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News and research before hearing about CNBC and others. TEL AVIV (Reuters) – Israeli software provider Monday.com said Wednesday it raised $ 50 million in a new round of financing.
Stripes Group, a New York-based growth equity company, led the round with the participation of existing investors, including Insight Venture Partners and Entree Capital.
In addition, the company obtained a strategic credit line of tens of millions of dollars from LeumiTech, the technological arm of the Israeli bank Leumi.
Launched in 2014 with offices in Tel Aviv and New York, Monday.com is a platform that connects people to workplace processes, manages workloads, and tracks projects. Paying customers include Carlsberg Group, Discovery Channel and McDonald's.
Last year, the company tripled its revenues to several tens of millions of dollars, tripled its customer base to more than 35,000 and more than doubled its workforce.
(Report by Tova Cohen, edited by Steven Scheer)
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