monday.com raises $50M Series C, doubles employee size and triples customer base

by Liz Warren
July 11, 2018
monday.com
image via monday.com

Project management platform monday.com is having a good year.

Since 2017, the Tel Aviv-based startup has majorly increased its revenue, doubled its employee size and tripled its customer base. And to cap it all off, the company just announced a $50 million Series C funding round.

The investment was led by Stripes Group with participation from existing investors and came alongside a strategic line of credit from Leumitech. The funds will be used to accelerate growth, scale internationally and refine new products and customization capabilities.

“There are many great workplace tools out there but unlike the others, our focus is on people — not projects or tasks,” said co-founder and CEO Roy Mann. “We want the platform to work for you, rather than you having to work for it.”

There are many great workplace tools out there but unlike the others, our focus is on people — not projects or tasks. We want the platform to work for you, rather than you having to work for it.”

About 35,000 teams around the world use the platform to manage work processes ranging from sharing files to collaborating with teammates. Its main goal is to bring transparency into how teams work together so they can work faster and smarter.

The company, formerly known as "dapulse", was originally launched in Tel Aviv — a tech hub that’s birthed a number of notable startups that have since migrated to NYC.

“With the bountiful startup community in Israel, we have direct access to incredible talent and great local resources,” said Mann. “We chose New York as our next office location because we love visiting, our newest investors are there and we really identified with the feeling of the tech community in the city.”

The latest round brings the company’s total funding to $84.1 million.

 

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