We partnered with monday.com in 2017; from then, our operational processes have been revolutionised. This has transformed the way we work, allowing us to streamline, organise, and perfect every task or activity we have in place.
monday.com started as an internal development tool for Wix.com, and a couple of years later, it went on to be an independent product with a capital raise of £1.5 million. Since then, monday.com has generated £2 of ARR for every £1 of capital used. In 2017, the company had a re-brand, changing from its original name, Dapulse, to monday.com. From January 2020 to January 2021, the company’s revenue grew from £31.9 million to £59 million, resulting in an 85% growth approx.
An incredible milestone
As a partner, we are incredibly proud to announce that monday.com has gone public via Nasdaq. The business is expecting to raise nearly £500 million at a price range of £125 – £140 per share. This puts the market capitalisation at £6.8 billion! Salesforce and Zoom have already purchased a massive £75 million in shares each via private placement. With the tech market still rapidly growing, monday.com‘s founders see this as a great opportunity to get the public involved in their journey.
“We really wanted to build a long-term, big company, and an IPO is a milestone on the way,” says Roy Mann, co-CEO of monday.com. “It was a time that the company was mature, and the market seemed to be in a great position, so it was perfect timing.”
What does this mean for our partnership with monday.com?
It doesn’t change anything for our partnership with monday.com or our customers. You’re still in safe hands; if anything, it means that monday.com is likely to grow. The more shares people buy into the company, the more funding it has to develop the product even further and provide more resources for monday.com customers. If you want to find out more about monday.com, get a free consultation.
