Israeli supplier of team management software Monday.com has confidentially surrendered the U.S. Securities and Exchange Commission for an initial public offering from Wall Street (IPO). Bloomberg reports that Monday.com is working with the Goldman Sachs Group on the listing, according to people familiar with the issue.
The IPO could take place as soon as this quarter, one of the people told Bloomberg who asked not to be identified because the matter is private. Monday.com’s plans are not final and the timing and details of its potential listing could change, people said.
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Monday.com and Goldman Sachs declined to comment on the report, Bloomberg added.
Monday.com was founded in 2012 by co-executives Roy Mann and Eran Zinman. Monday.com was named Globes’ most promising startup in 2017. Use of the company’s team management platform was boosted by the Covid-19 crisis and telecommuting, which, according to Bloomberg, estimated growth at $ 1.9 billion when in July 2019 raised $ 150 million in funding, up from $ 2.7 billion last year.
With offices in Tel Aviv, New York and elsewhere, Monday.com raised $ 234 million from investors, including Sapphire Ventures, Entrée Capital, HarborWest Partners, ION Crossover Partners and Vintage Investment Partners.
Posted by Globes, business news in Israel – en.globes.co.il – May 7, 2021
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