July 30, 2019 / 10:57 AM / a year ago

Israeli work management firm monday.com raises $150 million

TEL AVIV (Reuters) - Israel’s monday.com, a work management platform, said on Tuesday it raised $150 million in a late-stage financing round, bringing total funding to $234.1 million.

Silicon Valley-based venture capital firm Sapphire Ventures led the round with participation from Hamilton Lane, HarbourVest Partners, ION Crossover Partners and Vintage Investment Partners.

Launched in 2014 with offices in Tel Aviv and New York, monday.com is a centralized hub for all work processes ranging from project management to tracking tasks, projecting sales and event coordination.

Its customers include Carlsberg, Discovery Channel and Hulu.

In the last year, the company nearly tripled revenue into the tens of millions of dollars and doubled its customer base to more than 80,000 paying teams. The new funding will be used to accelerate growth, expand international operations and develop more platform integrations.

Reporting by Tova Cohen; Editing by Steven Scheer

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