Business
monday.com Achieves Significant Financial Milestone with $1 Billion in Annual Recurring Revenue
The company has reached a notable milestone, setting a new standard for innovation and growth. NEW YORK & TEL AVIV, Israel--(BUSINESS WIRE)-- monday.com Ltd.
About this update from Monday.com Ltd.
[{"type":"text","content":"\nThe company has reached a notable milestone, setting a new standard for innovation and growth.\n\n\n NEW YORK & TEL AVIV, Israel--(BUSINESS WIRE)--\nmonday.com Ltd. (NASDAQ: MNDY) (“monday.com”), the multi-product platform that runs all core aspects of work, announced today that it has reached $1 billion in annual recurring revenue (ARR)1. The company recently achieved this significant financial milestone, just a decade after it launched its Work Operating System (Work OS) and eight years since it reached $1 million in ARR.\n\n\n“In 2014, we set out to disrupt traditional work software, and over the last decade, we’ve built a product that has become the core platform for companies worldwide,” says Roy Mann, co-founder and co-CEO at monday.com. “Hitting $1 billion in ARR is an exciting milestone on our journey to take on the immense opportunity in the work software industry. We believe software can be both a platform that people love and an effective way to solve core business challenges in a scalable and robust way. We wouldn’t have achieved this without our dedicated monday.com team, partners, and customers.”\n\n\nLaunched in 2014, the monday.com Work OS is a no-code, low-code open platform that allows customers, teams, and enterprises to create and shape the tools they need to pave their business success. In the past, companies had very limited options - rigid off-the-shelf point solutions typically designed for small to medium businesses that couldn’t scale or complex enterprise software with massive implementation and maintenance costs.\n\n\nFrom day one, monday.com’s goal was to address these challenges and develop a platform to run the core of all work. The platform consists of modular building blocks that are simple enough for anyone to assemble yet powerful enough to build solutions that drive the core business of any organization in any vertical. As monday.com enters its next phase of growth and evolves into a multi-product company, its commitment to understanding and addressing customers’ evolving needs has led to the development of the Work OS product suite. This suite includes monday work management, monday CRM, monday dev, and monday service (currently in beta), each tailored to specific use cases.\n\n\n“Achieving $1 billion in ARR is a testament to the value we provide for our customers, and we’re committed to co...