Monday.com Raises $150 Million
What Happened?
Team collaboration platform monday.com raised $150 million in a series D funding round, led by Sapphire Ventures. Other vendor participation came from Hamilton Lane, HarbourVest Partners, Ion Asset Management, and Vintage Investment Partners.
Monday.com is now valued at $1.9 billion, nearly four times more than last year’s valuation.
Our Take
Monday.com is not a major player in the team collaboration market, but its year-on-year valuation increase is notable. Monday.com is gaining traction: SoftwareReviews’ scorecard lists that users are 88% likely to recommend monday.com.
Source: SoftwareReviews monday.com Scorecard, Accessed August 6, 2019
However, monday.com still has a long way to go to rival the two major team collaboration platforms: Microsoft Teams and Slack. Teams serves more than five times the amount of monday.com’s organizational users, and Slack’s market cap is ten times more than monday.com’s $1.9 billion valuation.
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