- Leading digital workspace company MURAL has announced it has raised $23 million in Series A funding led by Radian Capital
MURAL — a leading digital workspace company — announced it has raised $23 million in Series A funding led by Radian Capital with participation from Gradient Ventures (Google’s AI-focused venture group) and Endeavor Catalyst. And MURAL has been cash-flow positive for several quarters in 2019 and raised under $2 million in funding prior to this round.
With this round of funding, MURAL will be expanding its visual collaboration solutions based on experience design, agile development, and remote working tools. Plus the company is going to grow its go-to-market capabilities and product development teams globally with a goal of doubling in size by the end of this year.
“Visual techniques like experience mapping, business model design, program increment (PI) planning and agile retrospectives are now standard, and remote work is the new normal,” said Mariano Suarez-Battan, co-founder and CEO of MURAL. “On top of that, huge touchscreens are rapidly entering the marketplace, making it easier for teams to collaborate in a digital workspace. This funding will support our aggressive product roadmap to coach customers on how to run better meetings, and keep high levels of enterprise readiness to support global deployments. Greg’s experience building global teams will help us better serve our enterprise customers and improve how we work with consultants supporting brands in their culture transformations, which I’m truly excited about.”
MURAL was originally launched in 2011 as a digital whiteboard for users to collaborate in real-time. And in 2014, the company completed IDEO’s Startup in Residence program. From there, the company started focusing on supporting enterprises in deploying design thinking practices. Now MURAL is used by over 3,700 customers worldwide, including 40% of Fortune 100 global enterprises to visually collaborate and bring context to online meetings, brainstorming, knowledge sharing, project management, etc. Some of the company’s customers include IBM, USAA, E-Trade, Intuit, SAP, Atlassian, Autodesk and GitHub.
“As enterprise brands recognize the power of design to build better products that enable them to become more customer-centric, we’ve seen huge adoption of visual collaboration techniques like design thinking, lean, and agile,” added Weston Gaddy, Partner and Co-founder of Radian Capital. “The market opportunity for a secure, visual collaboration solution that connects the global distributed workforce has never been greater. MURAL’s product offering drives innovation on behalf of its customers and we see the potential to go even further, where MURAL transforms the modern offices of today.”
MURAL also announced it has hired Greg Kaplan as Chief Revenue Officer. Going forward, Kaplan will be overseeing global sales and partnerships and he will be helping MURAL expand its consultative approach along with building an ecosystem of global partners. Kaplan has over 25 years of experience leading enterprise software and cloud computing organizations, most recently serving in management positions at Bluewolf (an IBM Company), Oracle, and Salesforce.com.
“When Bluewolf/IBM began deploying design thinking across the company, I saw firsthand the impact MURAL made by bridging the work between in-person and remote team members,” explained Kaplan. “Mariano and his team’s ability to solve the challenges of remote teamwork and deliver rapid business outcomes, while integrating with established systems like Microsoft Teams, JIRA and Slack, is unparalleled in the industry, and I look forward to accelerating MURAL’s growth to new customers and markets.”