Israeli team management software provider Monday.com has filed confidentially with the US Securities and Exchange Commission for a Wall Street Initial Public Offering (IPO). Monday.com is working with Goldman Sachs Group on the listing, according to people familiar with the matter, Trend reports with reference to Globes.
The IPO could take place as soon as this quarter, one of the people, who asked not to be identified because the matter is private, told "Bloomberg." Monday.com’s plans aren’t final and the timing and details of its potential listing could change, the people said.
Monday.com and Goldman Sachs declined to comment on the report, "Bloomberg" added.
Monday.com was founded in 2012 by co-CEOs Roy Mann and Eran Zinman. Monday.com was chosen as "Globes" most promising startup in 2017. Use of the company's team management platform has been boosted by the Covid-19 crisis and remote working, which according to "Bloomberg" has seen its valuation rise from $1.9 billion, when it raised $150 million in a financing round in July 2019, to $2.7 billion last year.
With offices in Tel Aviv, New York and elsewhere, Monday.com has raised $234 million from investors including, Sapphire Ventures, Entrée Capital, HarbourVest Partners, ION Crossover Partners and Vintage Investment Partners.