Monday.com job management platform to file Nasdaq IPO

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Monday.com, the Israel-founded job project management tool, on Monday filed a registration form with the Securities and Exchange Commission for a proposed initial public offering of its common stock on the Nasdaq Global Select Market under the ticker symbol “MNDY”.

The number of shares to be offered and the price range of the proposed offering have not yet been determined, the company said in a statement. According to Renaissance Capital, an SEC-registered investment adviser, Monday.com plans to raise up to $ 100 million in an initial public offering, but could raise up to $ 500 million.

Founded in 2014, Monday.com has created a fully customizable team management platform that offers tools for project management, HR forecasting, marketing planning, event coordination, and task tracking. The company says it currently has 125,000 customers in more than 200 industries in more than 190 countries. Major clients include Carlsberg, Discovery Channel, Glossier, Phillips, and Hulu.

Monday.com has teams in Tel Aviv, New York, San Francisco, Miami, Chicago, London, Kiev and Sydney, and has raised more than $ 200 million to date. The firm was backed by Silicon Valley-based venture capital firm Sapphire Ventures, US alternative investment management firm Hamilton Lane, Israeli firm Vintage Investment Partners, and New York-based venture capital firm Insight. Partners, the company’s largest shareholder.

Monday.com was last valued at $ 2.7 billion last year, according to Bloomberg.

“We see the future of workplace software as a seamless connection of cloud-based tools and our goal in creating monday.com is to create the best possible platform to serve as a hub for these tools.” Monday.com CEO and co-founder Roy Mann said in 2019 after the company raised a $ 150 million Series D round.

Monday.com was recently named among 12 Israel-founded companies in the Forbes Cloud 100 list, and among 100 tech challengers that became powerful forces in 2020 by US management consulting firm Boston Consulting Group (BCG).


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