Management firm Labor Monday plans more than $ 6 billion IPO


The COVID-19 crisis has sparked triumphant success for many remote work startups around the world. Among these, an Israeli labor management company,, is planning to make its NASDAQ debut.

The company, along with funders including Silicon Valley-based venture capital firm Sapphire Ventures and US investment manager Hamilton Lane, Israeli firm Vintage Investment Partners, and New York-based venture capital firm Insight Partners, plans to sell 3.7 million shares for $ 125. at $ 140 each, which is roughly $ 518 million.

The Tel Aviv-based labor management startup said annual revenue in 2020 was $ 616.1 million, up from 106% the year before.

The investment arm of Salesforce and Zoom have each agreed to buy $ 75 million of shares in the labor management company in a private placement, the company said. was valued at $ 2.7 billion in its last funding round, according to Bloomberg News. seeks $ 100 million IPO in US

According to Renaissance Capital, an investment advisor registered with the SEC, plans to raise up to $ 100 million on its IPO, but could easily raise up to $ 500 million.

Founded in 2014, is co-managed by Roy Mann and Eran Zinmann. The startup is creating a fully customizable team management platform that manages work processes ranging from project management and follow-up tasks to event coordination and sales projection.

The startup has 125,000 clients in more than 200 industries in more than 190 countries. Its client list is filled with bigwigs, including Phillips, Carlsberg, Discovery Channel, Glossier, and Hulu.

“We see the future of workplace software as a seamless connection of cloud-based tools and our goal in creating is to create the best possible platform to serve as a hub for these tools.” CEO and co-founder Roy Mann said in 2019 after the company raised a $ 150 million Series D round. was listed among the 12 companies founded in Israel in the Forbes Cloud 100 and among the 100 technology challengers in 2020 by Boston Consulting Group.

Allen & Co and Jefferies, JP Morgan and Goldman Sachs are among the underwriters of’s IPO plans. It will be listed on NASDAQ under the symbol “MNDY”.

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