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monday.com
Formerlydapulse
Company typePrivate
IndustryProcess management, Project management, productivity software, team management, Low-code development platform, No-code development platform
FoundedFebruary 2012; 12 years ago (2012-02) (as daPulse)
FoundersRoy Mann
Eran Zinman
Headquarters
Tel Aviv
,
Israel
ServicesProcess management, Project management, productivity software, team management
Ownermonday.com, Ltd.
Number of employees
471[1]
Websitewww.monday.com

monday.com is a work operating system (Work OS)[2] that enables organizations to build custom workflow apps in a code-free environment - to run projects, processes and everyday work.[2] As of 2020, the company serves 100,000 organizations[3] from around 200 vertical markets, including many non-technical organizations.[4] In July 2019, the company raised $150 million, based on $1.9 billion valuation.[5] Monday.com won the 2020 Webby Award for Productivity in the category Apps, Mobile & Voice.[6]

History

The product was created in 2010[7] as an internal tool in the Israeli company Wix.com.[8] In February 2012, the product left Wix to become a separate company named daPulse, with Roy Mann, former Wix employee as CEO.[9] By August that year, the company raised $1.5 million in seed funding.[9]

In June of 2016, the company announced the closing of $7.6 million in a Series A round.[10][11] The round was led by Genesis Partners, with participation from existing backer Entrée Capital.[10]

In April 2017, the company raised $25 million.[12] The round was led by New York-based firm Insight Venture Partners, with participation from existing Series A investors Genesis Partners and Entrée Capital.[13]

In 2017 Monday grew to $13.0 million in revenue, up 100% from $6.5 million in 2016. As of 2017 Monday has 70 employees and 15000 customers.[14]

In November 2017, the company changed its brand name from daPulse to monday.com.[15]

In July 2018, the company raised a $50 million Series C funding round.[16] The round was led by New York-based growth equity firm, Stripes Group, with participation from existing Series A and B investors, Insight Venture Partners and Entrée Capital.

In July 2019, the company announced it raised a $150 million Series D round, bringing total funding to $234.1 million. The round was led by Sapphire Ventures with participation from Hamilton Lane, HarbourVest Partners, ION Crossover Partners and Vintage Investment Partners.[5]

The product

The product is a web and mobile app platform for work management, including tracking projects, deadlines, and team collaboration.[17] The product is customizable to fit a wide range of business operations, including R&D, marketing, sales, IT, customer support, HR and media production.[18] The platform's capabilities include more than 100 prebuilt automation recipes and over 50 integrations with other work apps.[19] Forrester, Inc. reports that "Monday.com excels at work management, delivering highly flexible planning and tracking capabilities."[20]

Work OS Features

In February 2020, monday.com rolled out monday 2.0, positioned as a Work OS. Here are its key features:[21]

  • Building blocks: Assemble drag-and-drop components into workflow apps.
  • Structured Data Store: Build a decentralized database to store and update data and information.
  • Data & apps integration: Ability to connect external data sources and work apps.
  • Workflow Automation: Custom built-in recipes that enable teams to automate routine work.

Some Work OS platforms also include features of low-code/no-code app creation, tracking progress, and communication

API

Version 1 of monday.com's API utilizes REST JSON Application Programmable Interface (API). The API is capable of handling Cross-Origin Resource Sharing (CORS) requests and uses an API Token as authentication.[22]

Version 2 of their API is based on the GraphQL structure (an alternative to REST based API). As a result, the user can use the API to pull and/or alter data about users, updates, items, boards, tags and more.[23]

References

  1. ^ monday.com's Profile Page on craft.co, May 2020
  2. ^ a b Hot productivity startup Monday.com is making a bet on helping non-developers build apps to manage any kind of project, without coding, Business Insider, February 2020
  3. ^ Monday.com wants to become your company’s Work OS, BestTechie, February 4, 2020
  4. ^ Monday.com raises $150M more, now at $1.9B valuation, for workplace collaboration tools, TechCrunch, Ingrid Lunden, July 30, 2019
  5. ^ a b Israel's New Top Unicorn: Monday.com Hits $1.9 Billion Valuation With $150 Million Raise, Alex Konrad, Forbes, July 30, 2019
  6. ^ Kastrenakes, Jacob (20 May 2020). "Here are all the winners of the 2020 Webby Awards". The Verge. Retrieved 22 May 2020.
  7. ^ daPulse הישראלית מגייסת 1.5 מיליון דולרים, August 1, 2012, Geektime
  8. ^ Dapulse closes $7.6M Series A for its Project Management SaaS, June 23, 2016, TechCrunch, Steve O'Hear
  9. ^ a b Standing On Its Own: Wix Spin-Off daPulse Scores 1.5m Series A For Its Internal Communications Tool, August 1, 2012, TechCrunch, Steve O'Hear
  10. ^ a b Dapulse closes $7.6M Series A for its project management SaaS, June 23, 2016, TechCrunch, Steve O'Hear
  11. ^ "Team management platform DaPulse raises $7.6m", June 26, 2016, Globes, Globes Correspondent
  12. ^ Dapulse raises $25 million for its project management tool, April 6, 2017, VentureBeat, Bérénice Magistretti
  13. ^ Israeli management software start-up Dapulse raises $25 mln, April 6, 2017, Reuters, Reuters Staff
  14. ^ "How Monday hit $13.0M in Revenue, 15K Customers in 2017". LATKA. Retrieved 2020-05-23.
  15. ^ The project management startup dapulse is changing its name because people kept making fun of it, November 12, 2017, Business Insider, Becky Peterson
  16. ^ Israeli Startup Monday Had To Change Its Name To Crack The U.S. Now Its Team Software Is Worth $550M, July 11, 2018, Forbes, Alex Konrad
  17. ^ How Monday.com Grew 350% in 2016 Archived 2019-05-24 at the Wayback Machine, November 15, 2017, MarTech Series, Yolande D'Mello
  18. ^ Israeli SaaS co dapulse raises $25m, April 6, 2017, Globes, Tali Tsipori
  19. ^ Monday.com 2.0 workflow platform lets companies build custom apps, TechCrunch, February 2020
  20. ^ The Forrester Wave™: Collaborative Work Management Tools For The Enterprise, Q4 2018, Forrester Research, October 24, 2018
  21. ^ Work OS: critical capabilities, monday.com, February 2020
  22. ^ "daPulse". ProgrammableWeb. May 19, 2014.
  23. ^ "monday.com". Feb 20, 2020.
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