monday.com, which provides a modular project management software platform, raised $574 million by offering 3.7 million shares at $155, above the range of $125 to $140. The company had planned to raise an additional $150 million in concurrent private placements to Salesforce and Zoom Video. At pricing, the company raised 17% more in proceeds than anticipated and commands a fully diluted market value of $7.9 billion.
monday.com allows organizations to easily build software applications and work management tools that fit their needs. Its cloud-based platform is a no-code and low-code framework that consists of simple yet powerful modular building blocks. As of March 31, 2021, the company served nearly 128,000 customers across over 200 industries in more than 190 countries.
monday.com plans to list on the Nasdaq under the symbol MNDY. Goldman Sachs, J.P. Morgan, Allen & Company, and Jefferies acted as lead managers on the deal.
