The Company
Monday.com is a cloud-based Work Operating System (Work OS) that enables organizations to build customized work management tools and software applications. By providing a low-code/no-code platform, it allows teams to intuitively connect people, processes, and systems, fostering transparency and efficiency across various business operations.
Financials
TAM / CAGR
The global project management software market, which includes platforms like Monday.com, was valued at approximately $5.37 billion in 2020. It is projected to grow at a compound annual growth rate (CAGR) of around 10.67% from 2021 to 2028, reaching an estimated $11.96 billion by 2028.
Products
Monday.com offers a suite of products tailored to various organizational needs. Below is a breakdown of their offerings:
| Product | Description |
|---|---|
| Monday Work Management | A customizable platform for planning, tracking, and delivering team projects and workflows. |
| Monday CRM | A customer relationship management tool designed to manage client interactions and sales pipelines. |
| Monday Dev | A platform tailored for software development teams to plan and execute projects. |
| Monday Service | An AI-driven enterprise service management product enabling customers to use AI agents for incident resolution. |
Customers
Monday.com serves a diverse range of industries, including marketing, project management, sales, software development, human resources, IT, operations, and construction. As of 2021, the company reported serving over 127,000 customers across more than 200 business verticals.
Competitors
In the competitive landscape of work management and collaboration tools, Monday.com faces competition from several key players:
| Competitor | Competing Product(s) |
|---|---|
| Asana | Project and task management software facilitating team collaboration and workflow tracking. |
| Smartsheet | A platform offering work management and automation features, including project tracking and collaboration tools. |
| Atlassian | Provides products like Jira for project tracking and Confluence for team collaboration. |
Main Investors
Monday.com has attracted investments from several prominent firms. Below is a summary of key investors.
| Investor |
|---|
| Insight Partners |
| Sapphire Ventures |
| Stripes Group |
| Entrée Capital |
Founding History
Monday.com was founded in 2012 by Roy Mann and Eran Zinman, who identified common challenges in scaling organizations and sought to create a solution that people would love to use. Initially named dapulse, the company secured $1.5 million in seed funding in 2012 and officially launched its product in 2014. In November 2017, the company rebranded to Monday.com to better reflect its mission and offerings. Over the years, Monday.com has experienced significant growth, culminating in its initial public offering (IPO) on June 10, 2021.
Invest Alpha 