Monday.com, the Israeli-founded visual project management tool, announced on Tuesday that it raised $150 million in a Series D funding round led by Silicon Valley-based venture capital firm Sapphire Ventures. US-based alternative investment management firm Hamilton Lane, Massachusetts-based private equity investment firm HarbourVest Partners, Israel’s Ion Asset Management, and Israeli-based Vintage Investment Partners also participated in the round.
Founded in 2014, Monday.com has created a fully customizable team management platform that offers project management, HR forecasting, marketing planning, event coordinator, and task tracking tools. Its customers include Carlsberg, Discovery Channel, WeWork, Glossier, Phillips, and Hulu, among others.
This financing round brings the company’s total funding to $234.1 million to date.
While the company says it has nearly tripled revenue and doubled its customer base to more than 70,000 paying teams around the world, the funding will be used to continue to accelerate the platform’s growth strategy, scale international operations, develop further platform integrations, and continue to refine localization and language offerings.
This year, Monday.com added new features that enable teams to connect unlimited cloud apps to the platform. Users now have the ability to integrate tools Jira, Typeform, MailChimp, and Slack. The platform is projected to have 200 integrated apps by the end of the year, according to a company statement.
“We see the future of software in the workplace as a seamless connection of cloud-based tools and our goal in building monday.com is to create the best platform we can to serve as the hub for those tools. We’re excited to add talented new investment partners to help us bring this goal to life,” said Roy Mann, CEO and co-founder of Monday.com, in the statement.