Home / Tech News / Monday.com raises $50 million to build the “next generation” team collaboration tools

Monday.com raises $50 million to build the “next generation” team collaboration tools

Monday.com, the crew and challenge control software previously referred to as Dapulse, has raised $50 million in a sequence C spherical of investment led via Stripes Workforce, with participation from Perception Challenge Companions and Entrée Capital.

Based out of Tel Aviv in 2012, Monday.com is an all-in-one crew communique, making plans, and control software that permits you to create and assign duties, plan workloads, make feedback, notify teammates, percentage information, and visualize the whole lot that everybody is lately operating on.

monday com raises 50 million to build the next generation team collaboration tools - Monday.com raises $50 million to build the “next generation” team collaboration tools

Above: Monday.: Visible timeline

Along its investment information these days, Monday.com additionally lifted the lid on a handful of recent gear and contours, reminiscent of Monday Tales, which is mainly a neighborhood of Monday.com customers the place use circumstances and best possible practices are shared throughout companies. And there’s one thing referred to as “board perspectives” which serves as a brand new strategy to visualize initiatives and processes.

1531305699 222 monday com raises 50 million to build the next generation team collaboration tools - Monday.com raises $50 million to build the “next generation” team collaboration tools

Above: Monday.com: Board view

Monday.com isn’t on my own in seeking to beef up staff’ productiveness thru crew making plans gear. Asana, which used to be co-created via Fb cofounder Dustin Moskovitz, lately raised $75 million prior to occurring to release a brand new timeline software for corporations to visualise challenge duties, very similar to what Monday.com gives.

In other places, Atlassian snapped up competing platform Trello ultimate 12 months for $425 million.

What’s in a reputation?

At its earlier $25 million sequence B lift again in early 2017, the corporate used to be nonetheless referred to as Dapulse, however later within the 12 months it rebranded to steer clear of the distractions that its authentic branding it appears brought about. In a self-deprecating video saying the name-change, staff learn out tweets posted via the general public that wondered the that means of the corporate’s call. “Dapulse, actually? Wat, we rappers now?” is one such hilarious message.

But it surely’s only a call.

The corporate has up to now raised greater than $34 million in out of doors investment, and with every other $50 million within the financial institution, it mentioned that it plans to expedite its plans to construct the “new technology of administrative center collaboration gear,” in step with a observation.

“We’re made up our minds to convey the standard and straightforwardness of use generally reserved for client merchandise to the undertaking,” famous Monday.com cofounder and CEO Roy Mann. “To successfully replace how groups paintings, they should in reality love the gear they use and that’s our objective in construction Monday.com.”

Monday.com mentioned that it tripled its revenues over the last 12 months into the “tens of thousands and thousands of bucks,” whilst additionally tripling its buyer base to 35,000 corporations, with big-name purchasers together with Carlsberg, Discovery Channel, McDonald’s, and WeWork.

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