monday.com raises $50M in new funding round, unveils fresh collaboration tools

Working with colleagues in a digital environment requires solutions that can measure up to various demands, and monday.com's collaboration tools are designed to help make that task more frictionless. The collaboration startup announced that it has raised $50 million in a new Series C round of funding led by Stripes.

The company said its total funding now amounts to $84.1 million following the latest round. The Israeli team management system provider, formerly called Dapulse, raised $25 million in April last year. On top of the new funding, monday.com obtained an additional capital from LeumiTech, Bank Leumi's technology banking arm.

monday.com also claims it has achieved a rapid growth over the past year: its revenue grew three times to tens of million dollars and the number of teams subscribed to its solutions now exceeds 35,000 worldwide.

The startup said it will use the funding to further grow its global footprint and create more product integrations. As part of that effort, monday.com unveiled a new range of products designed to help streamline the workplace, namely the Column Center for various types of data input, Board Views for visualizing and analyzing data, and monday Stories for sharing use cases and best practices.

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