monday.com (formerly dapulse), a Tel Aviv, Israel- and New York-based team management platform that connects people to workplace processes, raised a $50m Series C funding round.
The round, which brought total funding to $84.1m, was led by growth equity firm Stripes Group, with participation from existing Series A and B investors, Insight Venture Partners and Entrée Capital.
The company also secured a strategic line of credit from LeumiTech, the technology banking arm of Bank Leumi, providing the company with additional non-dilutive capital to scale.
The new funding will be used to accelerate monday.com’s growth strategy, scale international operations, develop further product integrations, and continue to refine vertical-specific customization.
Launched in 2014 by Roy Mann, CEO, monday.com provides a team management platform connecting people to workplace processes meeting the needs of small groups working together, as well as vastly complex workplace operations of thousands, spanning different departments and time zones. The product has been adopted across over 200 business verticals. Active paying customers include Carlsberg Group, Discovery Channel, McDonalds, and WeWork, among over 35,000 others from over 140 countries.
In conjunction with the closing of this Series C round, the company is launching three new offerings, including:
– The Column Center: An addition of 15 new functionalities to the essential structure of the platform that facilitate any sort of data input such as time tracking, creation log, location views, and more
– Board Views: A new way for teams to visualize, understand and extract data from the platform, all while increasing engagement
– monday Stories: A community of monday.com users where use cases and best practices can be shared across over 200 business verticals