Monday.com: $120 Million In ARR And Monday 2.0 Launches

By Amit Chowdhry ● February 5, 2020
  • Workplace productivity platform company Monday.com recently announced it is rolling out monday 2.0. And the company also revealed it is now seeing $120 million in annual recurring revenue (ARR).

Workplace productivity platform company Monday.com recently announced it is rolling out monday 2.0. monday 2.0 is an iteration of its platform that transforms it into a work operating system (work OS), which enables organizations of any size to build custom workflow apps in minutes.

With the launch of the new platform, Monday.com now provides a centralized platform for code-free app creation, process management, and project management. And the launch of Monday 2.0 is a culmination of new capabilities added to the platform that further enables teams to execute in alignment, focus on work that maximizes impact, and achieve significant results.

“When teams are empowered to build their own apps, they start unlocking their true potential – we experienced this firsthand with our team,” said Roy Mann, co-founder and CEO of monday.com. “Launching monday 2.0, our work OS, is a big milestone along our vision in driving any team and organization to excellence in every part of work. We continue to learn and be inspired from the amazing things our customers build on the monday.com platform.”

Currently, Monday 2.0 is used by over 100,000 paying organizations. And it is comprised of an ever-growing list of code-free work blocks along with unique platform features that teams can use to easily build custom workflow apps.

“At HubSpot, our mission is to help millions of organizations grow better,” added Mark Znutas, Senior Director of Operations at HubSpot. “The monday.com work OS plays a key role in our work towards this mission. It is the central hub from which HubSpot teams manage critical cross-functional projects. With monday.com, we’re able to work in a way that suits our needs while still keeping teams closely aligned and highly empowered.”

The expansive modular blocks provide opportunities to customize workflows and empower teams to focus on the work that maximizes impact while creating an open flow of information to and from other tools already in use. And in using monday 2.0, companies are resolving conflicting priorities, aligning inconsistent goals, breaking through data silos, and minimizing time-consuming meetings and emails.

Monday 2.0 includes the following enables developers to create and package custom widgets, workflows, integrations, and apps. And it has a code-free form builder to collect business data from customers, suppliers, and employees — which is stored securely to drive action and power workflows. Plus it has over 100 prebuilt automation recipes and a code-free custom automation builder to eliminate manual recurring tasks.

And Monday 2.0 has Resource Management tools, which makes visual resource planning and allocation visible to every team member to ensure the entire team is most effectively utilized. It also has more than 50 data types and the ability for teams to create their own custom data types. Teams are able to manage business entity, including products, employees, processes, contracts, support tickets, leads, and opportunities.

In terms of organized collaboration, there are shared work hubs for teams to collaborate towards common goals with governance to control access and functionality permissions. And there are over 50 code-free integrations to applications, including email, spreadsheets, Salesforce, Jira, HubSpot, Zendesk, and an open API. Plus there are code-free custom dashboards with more than 25 interactive widgets.

And Monday 2.0 also has a variety of views for teams to visualize, understand and extract data from the platform — all while increasing engagement. The process views include a Kanban view, timeline, calendar, map, and Gantt chart.

“monday.com is providing our Risk Advisory and Assurance Department the ability to create the custom workflows we need for every aspect of our continuous improvement initiatives,” stated Richard Brilliant, SVP and Chief Audit Officer at Carnival Corporation & PLC. “The work OS has been so successful in keeping our teams aligned, that it’s spreading rapidly throughout our organization. monday.com provides our team with clarity to know where we’re going, how we’re going to get there, and what our respective roles are, and this has proven immeasurably valuable. We are excited to take advantage of everything 2.0 has to offer.”

Coinciding with this announcement, Monday.com also revealed that it now has 100,000 paying organizations and $120 million in annual recurring revenue (ARR). Back in July, Monday.com raised a $150 million Series D round of funding at a $1.9 billion valuation.