Israel workplace management startup monday.com raises $150m
Funds will help company increase international activities, create new versions of software in a more languages, firm says
Shoshanna Solomon is The Times of Israel's Startups and Business reporter
Israel’s monday.com, a startup that has created a workplace collaboration and management platform, said on Tuesday it has raised $150 million, bringing the total amount of funds raised by the firm to date to $234.1 million.
The round was led by Silicon Valley-based VC fund Sapphire Ventures. Other investors included Hamilton Lane, HarbourVest Partners, ION Crossover Partners and Vintage Investment Partners.
The Tel Aviv-based company, founded in 2012, also has offices in New York. The firm’s software enables users to manage all of their work tasks from one centralized hub, including project management, marketing campaigns, customer and sales management projects.
Carlsberg, Discovery Channel, Philips and WeWork are among the company’s customers, the firm said in a statement.
In the past year the company almost tripled its revenues to tens of millions of dollars and doubled the number of paying customers to more than 80,000 work teams globally, the statement said.
The new funding will enable the company to increase its international activities, develop new strategies and create new versions in a variety of languages and for a more diversified customer base, according to the statement.