The Israeli startup Monday.com has received an investment of 150 million dollars in a financing round led by Sapphire Ventures. No fewer than 80,000 organisations now use the company’s project management service.
In addition to Sapphire Ventures, Hamilton Lane, HarbourVest Partners, ION Crossover Partners and Vintage Investment Partners also contributed to the financing round. Monday.com was valued at 1.9 billion dollars, writes Silicon Angle. At the previous investment round, last year, the company was valued at 550 million dollars.
Monday.com
The Monday.com service allows teams to organize outstanding tasks into boards that function as colorful, customizable spreadsheet tables. Each task that remains to be performed appears in a separate row with a description and important details such as the deadline.
Teams can customize what information is displayed in their boards, based on the projects they are working on.
There are also possibilities to choose a different view than the standard tables. For example, there is an option for a timeline, a calendar and a map that organizes tasks for each location where they are to be performed.
More features
Recently, Monday.com has been given more productivity functions. Earlier this year, for example, Automations was launched. This is an IFTTT-like tool that allows users to automate tasks. For example, it is possible to automatically notify the leader of a team when an important task has been completed.
The new financing for the startup will be used to expand the possibilities even further. The startup wants to complete the year with more than 150 integrations with external productivity tools. The startup also wants to add new compliance tools for large enterprise customers.
Monday.com has seen its customer base grow significantly over the past year. Whereas in 2018, 35,000 organisations still used its platform, that number has now grown to 80,000 companies. This also includes well-known enterprises such as WeWork, Philips and Hulu.
This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.
6 hours ago
