monday.com Ltd. (monday.com) operates as a platform that democratizes the power of software to organizations for building software applications easily and work management tools that fit their needs.
The company calls its platform a ‘Work OS’ (Work Operating System). The company’s cloud-based platform is a no-code and low-code framework that consists of modular building blocks that are simple enough for anyone to use, yet powerful enough to drive core business within any organization. The compan...
monday.com Ltd. (monday.com) operates as a platform that democratizes the power of software to organizations for building software applications easily and work management tools that fit their needs.
The company calls its platform a ‘Work OS’ (Work Operating System). The company’s cloud-based platform is a no-code and low-code framework that consists of modular building blocks that are simple enough for anyone to use, yet powerful enough to drive core business within any organization. The company’s platform also integrates with other systems and applications, creating a new connective layer for organizations that links departments and bridges information silos. On top of the company’s platform, it has built a product suite to address the needs of specific industries and use cases — including monday work management, monday CRM, monday dev, and monday service. The company also offers independent products that can be used without the platform, including WorkCanvas, a digital whiteboard, and WorkForms, which allows users to create personalized forms or surveys and gain organizational insights. Additionally, it has begun incorporating AI capabilities throughout the entire platform.
By using the company’s platform and products, its customers can simplify and accelerate their digital transformation, enhance organizational agility, create a unifying workspace across departments, and increase operational efficiency and productivity. As of December 31, 2024, the company served nearly 245,000 customers across over 200 industries in more than 200 countries and territories.
Growth Strategies
The company’s strategies are to evolve the Work OS platform; prioritize the creation of new products that can work in harmony as they share a common code base; grow and invest in its ecosystem strategy; provide more value to, and increase the number of large accounts; and scale its go-to-market strategy, which includes continuing to scale its self-serve funnel complemented by expanding sales-led motion, driving growth by acquiring new customers, increasing adoption and expansion within its existing customer base, and expanding its global footprint.
Platform
With the monday.com Work OS platform, organizations can build software applications and work management tools to fit their needs. The company’s no-code and low-code 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. On top of the platform, it has built a suite of products, for work management, CRM, software development, and service verticals, to address the needs of specific industries and use cases. Additionally, the company has two independent products that can be used without the platform, to provide users with a digital whiteboard (WorkCanvas) and forms for data collection (WorkForms).
Users can use boards to hold any information and processes they have, within items and columns. The company’s schemaless database infrastructure is completely flexible, allowing users to easily define the way they capture and present data. They use views to manipulate and consume that board information in different ways. Users can create forms to capture data from anyone, including non-monday.com users.
Integrations pull data from other applications into the board, export data to other systems, and synchronize data across applications. Automations eliminate repetitive manual processes, saving time and reducing human error. monday workflows optimize customers’ automations and allow them to manage more complex workflows across teams and products. AI capabilities allow users to automate task generation, build formulas, compose emails, and generate content.
Users can build dashboards that pull data across many boards so stakeholders can get a complete high-level view of anything they may want. Users can access a variety of monday.com ‘stores’ to further customize any kind of building block: for example, the column store allows customers to add new data types to any board, including location, formulas, numbers, text, and dates. The views store provides different types of interactive interfaces, including calendar, location, and timeline views. The dashboard widget store includes many widgets, such as graphs, lists, and numbers for use in any dashboard layout customers want to create.
With monday workdocs, users can collaborate on documents in real-time and embed monday.com dashboards, images, videos, and more. Users can organize their boards, dashboards, and workdocs using workspaces.
Upon discovering the company’s platform, customers enroll in a 14-day free trial of its Pro plan for the product that fits their needs, after which they are prompted to either continue with its Free plan for small teams (limited to two users) or pay for one of its four paid subscription plans.
Products
The company’s product suite includes four products:
monday work management
This product manages workflows, projects, and portfolios to fuel team collaboration and productivity at scale. monday work management is the complete solution for connecting strategy to effective execution, at scale. It enables customers to manage all aspects of work, from daily tasks to entire projects, plus collaborating and reporting in real-time, all in one place. Users can build workflows that suit their needs using no-code and low-code building blocks across all departments and industries. The product can be further leveraged to streamline operations through automations and integrations with other software platforms.
In 2024, the product has evolved to better suit the needs of larger enterprise customers, including portfolio and resource management features. These enable customers to have birds-eye views of all ongoing projects at once, identify risks and bottlenecks faster, and ensure strategic use of resources.
monday CRM
This product tracks and manages all aspects of the sales cycle. monday CRM is a fully customizable CRM that can be implemented within minutes, empowering business owners and sales teams to manage every aspect of their sales cycle and customer data in one centralized place. In 2024, the company has focused on equipping teams at every stage of the deal lifecycle, from leads enrichment and qualification, to managing sequences and providing full visibility on every customer engagement.
Some key features of monday CRM include email sync, which connects to Gmail and Outlook, email tracking, which automatically notifies users when a lead opens or replies to an email, post-sales management, which helps users manage all their post-sale activities in one place, and sales operations, which allows users to plan and fast-track the sales hiring process while equipping teams with the necessary tools and resources to close more deals.
monday dev
This product builds agile product and software development workflows. monday dev provides product and development teams with the tools to seamlessly manage all development processes and achieve their goals faster in one easy-to-use platform.
monday dev key features include sprint management, which empowers scrum teams to easily manage end-to-end sprints from one place, product lifecycle management, which streamlines entire development workflows, and agile reporting that creates customizable, real-time reports.
monday service
This product creates a seamless connection between service desks and their data. monday service was a new addition as of 2024, empowering service teams to deliver exceptional support with AI and automations. The strategic focus is on equipping service teams with the tools needed to be proactive rather than reactive to service requests. The Portal is a unique feature of monday service, which functions as a fully customizable minisite where resource articles can be accessed, and tickets can be created. The entire lifecycle of a service ticket can be managed in monday service, from intake via Gmail, Outlook, monday inbox, WorkForm, or the Portal, to ticket resolution and evergreen resource generation. AI is leveraged specifically to intelligently prioritize and resolve tickets, as well as generate articles for the Portal.
The company has two additional products, with differentiated pricing, designed to complement its platform:
Workcanvas: a digital whiteboard for real-time, unstructured collaboration.
monday workforms: allows users to create personalized forms or surveys and gain organizational insights.
App Marketplace
The company expanded the scope of its building blocks by extending its platform to external developers through a no-code and low-code framework and app marketplace. The company’s framework and flexible application programming interface, ‘monday_code,’ allow customers, partners, and external developers to easily create their own building blocks and apps, either for private use or public availability on the app marketplace, while working with any of its products. Developers and app builders can also distribute their building blocks and solutions through its app marketplace. Marketplace vendors can choose to monetize their apps through third-party payment systems, or a payment processing system directly from within the platform. As of December 31, 2024, the company had 649 apps in the marketplace and 445 apps with native monetization.
AI capabilities
The company’s AI offering includes:
AI Blocks: no-code AI capabilities, packaged to perform specific tasks across the monday.com platform, in boards & columns, automations, and workflows. These actions include the ability to summarize information, extract from text, translate, categorize, and build formulas, for example. When combined, AI Blocks can create full, AI-powered workflows that allow people to automate everyday tasks and increase efficiency.
Intelligent products: the company has incorporated AI into its existing suite of products, leveraging it to solve domain-specific challenges. For Work Management, it has added an AI-powered risk analyzer, with the ability to scan an entire portfolio with thousands of projects, across structured and unstructured data, and flag any potential risks. It can also define the level of risk, and suggest next steps for resolution. This AI capability can turn project management from being unpredictable, unreliable, and time-consuming, to being an ‘always on,’ smarter and more efficient process.
The components of the company’s platform
The key components of the platform include:
Boards: capture data and manage processes. The company’s boards are at the core of its platform, as they are the starting point upon which all functionality on its platform is built. Each board has the infrastructure of a schemaless database with an easy-to-use interface, which users can easily customize, populate, and build applications upon.
Items: customized to fit any use case. An item is a row within a board that can represent virtually anything a user chooses, including an entity, workstream, or campaign. Users populate items with actions, steps, leads, contacts, or other elements of a workstream.
Columns: represent data in a tailored way. Each item has a number of columns associated with it. Users add columns to identify owners of an item or workstream, track the status of an item, rate specific items, and add files related to the item, along with many more options. Users can also customize columns to fit virtually any use case.
Views: visualize and tailor a board’s contents for any need. Users can view and work with their data with multiple board view options. Each view is built for a different set of workflow needs.
monday workdocs: collaborate on a powerful doc that empowers users to turn words into actions. monday workdocs enables users to work simultaneously on the same shareable documents. Users can tag each other and embed boards and dashboards to collaborate within the context of their workflows and processes. They can co-edit, comment, and drag and drop text in real-time without disrupting other users working on the doc.
WorkForms: capture data from others, including non-monday.com users. Users can create and collect data with intuitive, web-based, and easily shareable forms. Each submission generates a new item within the board, with all of the data supplied by the recipient automatically populated in the relevant columns.
Automations: save time and minimize human error by automating repetitive processes. Automations can be triggered when certain actions occur or thresholds are reached. They include automatically sending notifications, creating items, assigning ownership and due dates, and moving items to other boards. Users can automate work using the company’s predefined automation recipes or create their own.
Integrations: connect with external tools to share data and automate actions across tools. Integrations allow the company’s users to connect with external tools to share data and automate actions across tools. The company’s integration center includes integrations to other tools and is growing, such as Gmail, Outlook, Jira, Salesforce, Google Drive, Dropbox, Stripe, Slack, GitHub, and Zendesk. Users can find additional integrations in its app marketplace or build their own using the monday.com API.
monday workflows: simplify the entire workflow creation process by utilizing drag-and-drop blocks. The monday workflows add-on optimizes customers’ automations and allows them to manage more complex workflows across organizations, departments, and monday.com products. This includes a workflows and connections center, robust workflow capabilities, and an AI prompt to workflow feature. monday workflows is also open to third-party developers.
Dashboards: a high-level view of everything happening across an organization. Users can create dashboards with summaries and reports from data across multiple boards to track progress across their monday.com account. These dashboards help visualize everything happening across their organization to enable data-driven decision-making.
Dashboard widgets: track all data on a single pane of glass. Users can select any dashboard widget according to the data they want to display to build a dashboard, with different visualizations of the data they want to track, all on one screen. Dashboard widgets allow users to immediately get the full picture of their organization, from the drill-down or high-level insights.
Workspaces: keep work organized as work scales. Users can organize and centralize boards and dashboards using workspaces, which are defined by any category the user chooses. In large organizations, for example, workspaces can represent an entire department or a team working on a cross-company project.
My Work: centralize all assigned items in a single place. My Work allows users to view and manage all the items that are assigned to them without needing to go into individual boards. Users can customize the data on their My Work to get an instant overview of everything they are working on.
Mobile application
Mobile capabilities have become a key requirement for users as more work is done outside the office, including in industries where operational mobility is critical to success, such as construction or real estate. The company has invested in mobile development to ensure the high performance of its platform on smartphones and tablets. The company’s native mobile application is built for both iOS and Android and is designed to support mobile-first customer use cases. The company’s mobile application’s robust functionalities differ from the desktop version, as it has been designed to be more compact and thumb-friendly, creating an easy-to-use, on-the-go experience.
Technology and In-House Tools
Extensible technology platform
monday.com is a cloud-based, proprietary software-as-a-service platform that is built to be fully resilient and fault-tolerant while staying agile, flexible, and fast. To accomplish this, the company utilizes multiple data centers across multiple geographical regions of Amazon Web Services (‘AWS’) and Google Cloud Platform.
To make sure that anything the company’s customers build performs with speed and reliability, it has upgraded its core infrastructure through a flagship initiative called mondayDB (monday database).
In 2024, the company released mondayDB 2.0, which supports boards with up to 10x more items and 25x more dashboards.
The company’s in-house business intelligence tool, BigBrain, supports its data-driven culture by providing every monday.com employee easy access to the company’s core data that is required for their job.
BigBrain collects and processes data from over 1.5 billion events per workday from multiple separate sources and aggregates it into one place that every employee can access. This enables the company’s team to analyze and make informed decisions based on transparent data, in real-time. BigBrain includes various tools, such as a landing page generator, AI brain for monday-related content search and activities, account data insights, an AB test tool, and media buying statistics tracking, all of which were built by the company’s in-house team. BigBrain also aligns the company’s team around key performance indicators (‘KPIs’) and metrics. The company proactively connects employees to the business status via an internal app it developed, which is updated daily with high-level KPIs and strategically distributed data dashboards powered by BigBrain throughout its offices.
Customers
The company had a large customer base that consists of nearly 245,000 customers as of December 31, 2024. In 2024, it strategically emphasized growing its mid-market customer base. The company’s customers span thousands of use cases and range from teams of all sizes, though it is investing more in up-market growth in 2024. As of December 31, 2024, the company had 3,201 enterprise customers, with more than $50,000 in ARR. Because of the company’s easy-to-use interface, customers across industries use its platform, with a majority of customers working in traditionally non-tech industries, such as real estate, banking, journalism, and construction, alongside customers from traditionally tech industries, such as IT management, software development, and e-commerce.
Research and Development
The company’s research and development expenses were $213.7 million for the year ended December 31, 2024.
Sales
The company’s product suite provides it with an additional entry point into its sales flywheel. Because all products are built on top of the platform, customers can easily adopt additional products as they grow their accounts and use cases. As adoption of the company’s products grows, it has been able to increase the footprint of monday.com across accounts.
As the company employs a sales-led-growth strategy, the sales function has increased its geographical footprint for more boots-on-the-ground sales efforts. This strategy also includes more face-to-face interaction between its sales team and customers/prospects, such as at regional events.
Partners
As of December 31, 2024, the company had 272 channel partners in 50 countries and territories.
The company has 46 listed and partner-built solutions on the monday.com platform, across accounting, construction, HR management, and other verticals. In addition, the company’s partners built, listed, and started monetizing 78 applications on the monday.com marketplace, such as resource management, time tracking, and portfolio management.
The company has partnered with some of the world’s leading tech companies, such as Amazon AWS, as well as with a broad set of independent software vendors, in order to increase in scope, deepen the company’s products, and strengthen its ability to serve as the connective layer across organizations.
Customer Experience
The company’s customer experience team, along with its newly released AI bots, provides 24/7 support to its customers. It offers support to every account and every user, with extended service to enterprise customers. All customers receive an extensive self-service knowledge base, on-demand webinars and demonstrations, and access to the monday.com community, a place to connect with thousands of monday.com users to learn and share ideas. The company’s extended service includes priority support and specialized onboarding services, along with additional services.
Marketing
As a multi-product company, the company utilizes its marketing efforts to expand brand awareness, grow lead generation, and strengthen relationships with both existing and potential customers.
In order to expand the company’s brand awareness, it invests in organic marketing, online brand advertising, out-of-home campaigns, and is constantly testing new channels.
The company targets potential customers on the team and managerial levels with both a bottom-up and top-down marketing approach, casting a wide net of performance-based marketing, like acquisition and media-buying, across several digital and offline channels to help bring in new customers.
The company’s B2B marketing enables its client-facing teams to deliver value and impact to current and potential customers, as well as its partner ecosystem. The company is focused on delivering a tailored and valuable experience to all accounts with product-specific or industry-specific offerings. The company’s multidisciplinary marketing approach allows it to continue expanding upmarket, deliver value to customers in over 200 industries, and bring leads ranging from small businesses to Fortune 500 companies.
Competition
The company’s competitors include the following:
Companies that primarily offer project and work management solutions, including the application of processes, methods, skills, and knowledge to achieve specific objectives. This includes companies, such as Asana, Inc., Smartsheet Inc., Notion Labs, Inc., Atlassian Corporation PLC (Trello), ClickUp, and Freshworks Inc.
Companies that primarily offer customer relationship management solutions. This includes companies, such as SugarCRM, HubSpot, Pipedrive, and Zoho Corp.
Companies that primarily offer software development tools. This includes companies, such as Atlassian Corporation PLC (Jira).
Companies that primarily offer enterprise service management tools. This includes companies, such as Freshworks Inc. (Freshservice), and Atlassian Corporation PLC (Jira Service Management).
Intellectual Property
As of December 31, 2024, the company had 31 U.S. patent-pending applications, two U.S. provisional patent applications, 106 granted U.S. patents, three allowed U.S. patents, two EU patent-pending applications, one allowed Israeli patent, one Israeli patent-pending application, one Chinese (CNIPA) granted patent, and nine PCT applications relating to certain aspects of the company’s technology.
Privacy and Security
In order to increase the company’s customers’ privacy and security capabilities, the company has recently released the Guardian add-on to enhance data protection and governance, streamline organization-wide access, and adhere to compliance requirements with an extra layer of protection. The add-on includes: Tenant-level encryption (TLE), Bring Your Own Key (BYOK), and Multiple SSOs capabilities.
The company’s security strategy and controls are based on international standards and industry best practices, such as ISO 27001, ISO 27018, and OWASP Top 10, and are subject to independent annual SOC2 audits. Additionally, the company’s security strategy and controls include HIPAA-compliant features.
History
The company was founded in 2012. The company was incorporated in 2012. The company was formerly known as DaPulse Labs Ltd. and changed its name to monday.com Ltd. in December 2017.
