Monday.com

Last updated

monday.com Ltd.
Formerlydapulse (2012–2017)
Company type Public
Nasdaq:  MNDY
Industry Process management, project management software, productivity software, team management, low-code development platform, no-code development platform
FoundedFebruary 2012;12 years ago (2012-02) (as dapulse)
Founders
  • Roy Mann
  • Eran Zinman
  • Eran Kampf
Headquarters
Tel Aviv
,
Israel
Key people
  • Roy Mann (co-CEO)
  • Eran Zinman (co-CEO)
Services Process management, project management software, productivity software, team management, customer relationship management, collaborative software
RevenueIncrease2.svg US$730 million (2023) [1]
Increase Negative.svgUS$−39 million (2023) [1]
Increase Negative.svgUS$−1.9 million (2023) [1]
Total assets Increase2.svgUS$1.28 billion (2023) [1]
Total equity Increase2.svgUS$814 million (2023) [1]
Number of employees
1,854 (2023) [1]
Website monday.com

Monday.com Ltd. (styled in lowercase as monday.com) is a cloud-based platform that allows users to create their own applications and project management software. [2] [3] The product was launched in 2014 and in July 2019, the company raised $150 million, based on a $1.9 billion valuation. [4] [5] The company went public in June 2021 and is based in Tel Aviv, Israel. [6]

Contents

History

monday.com was founded in 2012 [7] by Roy Mann, Eran Kampf and Eran Zinman. [8] By August of that year, the company, then called dapulse, raised $1.5 million in seed funding. [9] [10] [11] The product was commercially launched in 2014. [12] [13] In June 2016, the company announced the closing of $7.6 million in a Series A round. [14] [11] The round was led by Genesis Partners, with participation from existing backer Entrée Capital. [11] In April 2017, the company raised $25 million. [15] The round was led by New York–based firm Insight Venture Partners, with participation from existing Series A investors Genesis Partners and Entrée Capital. [16] In November 2017, the company changed its brand name from dapulse to monday.com. [17]

In July 2018, the company raised a $50 million Series C funding round. [8] The round was led by New York–based growth equity firm, Stripes Group, with participation from existing Series A and B investors, Insight Venture Partners and Entrée Capital. In July 2019, the company announced it raised a $150 million Series D round, bringing total funding to $234.1 million. The round was led by Sapphire Ventures with participation from Hamilton Lane, HarbourVest Partners, ION Crossover Partners, and Vintage Investment Partners. [4] The funding gave the company a valuation of $1.9 billion, making it a unicorn. [4] As of 2021, the company reported it was serving over 127,000 customers across over 200 business verticals. [18] [19] [20] In May 2020, the company won the 2020 Webby Award for Productivity in the category Apps, Mobile & Voice. [21] [22] In May 2021, the company filed for a U.S. IPO. [23] [24] The company went public on June 10, 2021. [25]

API

Version 1 of monday.com's API is a REST-based JSON API capable of handling cross-origin resource sharing (CORS) requests and uses an API Token as authentication. [26]

Version 2 of their API is a GraphQL API that allows users to pull and/or alter data about users, updates, items, boards, tags, and more.[ citation needed ]

In June 2020, monday.com released its API to third-party developers. monday.com's open API allows users to build on the platform capabilities to fit their needs. Use cases include custom views, dashboard widgets, automations, and integrations with other work apps. [27]

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References

  1. 1 2 3 4 5 6 "monday.com 2023 Annual Report (Form 20-F)". SEC.gov. U.S. Securities and Exchange Commission. March 14, 2024.
  2. ↑ Zaveri, Paayal (February 5, 2020). "Hot productivity startup Monday.com is making a bet on helping non-developers build apps to manage any kind of project, without coding". Business Insider.
  3. ↑ Nicole Willing, Monday.com IPO: is the latest software listing a buy?, Capitol.com, June 7, 2021
  4. 1 2 3 Konrad, Alex (July 30, 2019). "Israel's New Top Unicorn: Monday.com Hits $1.9 Billion Valuation With $150 Million Raise". Forbes.
  5. ↑ Megan Hernbroth, monday.com, a proudly unprofitable workplace productivity tool reaches $1.9 Billion valuation with $150 Million Series D, Business Insider, July 30, 2019
  6. ↑ Lakin, Robert (June 10, 2021). "MNDY Stock IPO: What to Know as Monday.com Starts Trading Today". InvestorPlace. Retrieved June 27, 2021.
  7. ↑ Wenkert, Amarelle (February 26, 2019). "Insight Venture Buys Portfolio From Israel-Based Venture Firm Genesis Partners". calcalistech.com. Retrieved September 10, 2021.
  8. 1 2 Konrad, Alex (July 11, 2018). "Israeli Startup Monday Had To Change Its Name To Crack The U.S. Now Its Team Software Is Worth $550M". Forbes. Retrieved May 24, 2021.
  9. ↑ O'Hear, Steve (August 1, 2012). "Standing On Its Own: Wix Spin-Off daPulse Scores 1.5m Series A For Its Internal Communications Tool". TechCrunch.
  10. ↑ "daPulse הישראלית מגייסת 1.5 מיליון דולרים". Geektime.com (in Hebrew). August 1, 2012.
  11. 1 2 3 O'Hear, Steve (June 23, 2016). "Dapulse closes $7.6M Series A for its project management SaaS". TechCrunch. Retrieved May 24, 2021.
  12. ↑ Eliran Rubin, מאדריכלים ועד חברות היי-טק: DaPulse גייסה 25 מיליון דולר כדי לעזור בניהול הארגון, The Marker, April 6, 2017
  13. ↑ Rob Watts, Monday.com in the PCMag Startup Spotlight. PC Mag, July 18, 2018
  14. ↑ "Team management platform DaPulse raises $7.6m". Globes. June 26, 2016.
  15. ↑ Magistretti, Bérénice (April 6, 2017). "Dapulse raises $25 million for its project management tool". VentureBeat.
  16. ↑ "Israeli management software start-up Dapulse raises $25 mln". Reuters. April 6, 2017.
  17. ↑ Peterson, Becky (November 12, 2017). "The project management startup dapulse is changing its name because people kept making fun of it". Business Insider.
  18. ↑ Reuters and CTech, monday.com targeting over $6 billion valuation in Nasdaq IPO, June 1, 2021
  19. ↑ "Monday.com wants to become your company's Work OS". BestTechie. February 4, 2020.
  20. ↑ Lunden, Ingrid (July 30, 2019). "Monday.com raises $150M more, now at $1.9B valuation, for workplace collaboration tools". TechCrunch.
  21. ↑ "Webby Awards 2020 – monday.com: Connecting 500K people to workplace processes - Winner" . Retrieved June 10, 2021.
  22. ↑ Kastrenakes, Jacob (May 20, 2020). "Here are all the winners of the 2020 Webby Awards". The Verge. Retrieved May 22, 2020.
  23. ↑ "Israeli work management firm monday.com files publicly for U.S. IPO". Reuters. Reuters. May 17, 2021. Retrieved January 14, 2022.
  24. ↑ "Monday.com files publicly for U.S. IPO, reveals $39 million net loss in Q1 2021". Calcalis Tech. May 17, 2021. Retrieved May 24, 2021.
  25. ↑ "Monday.com Shares Jump at IPO, Minting a New Cloud Software Billionaire in Israel". Forbes . June 10, 2021. Retrieved June 10, 2021.
  26. ↑ "daPulse". ProgrammableWeb. May 19, 2014.
  27. ↑ Steve Brooks, "Monday.com launches Apps Framework", Enterprise Times, June 30, 2020
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