July 11, 2018 | Israeli project management software Monday.com announced Wednesday it has raised $50 million in a fresh funding round. This brings its total funds raised to $84 million. New York-based growth equity firm Stripes Group led the round, with participation from Insight Venture Partners and Entree Capital.
According to Reuters, the company has secured a strategic line of credit worth “tens of millions of dollars” from LeumiTech, the tech arm of Israel’s Bank Leumi.
The company has plans to build the “new generation of workplace collaboration tools, ” it said in a statement.
Founded in 2012 and formerly known as DaPulse, Monday.com previously raised $25 million in early 2017 before it rebranded its name. The platform, which visually provides software for team management, planning, and projects for companies, has paying customers like Discovery Channel and McDonald’s.