INSUBCONTINENT EXCLUSIVE:
As efforts to flatten the spread of COVID-19 pushes employees from their offices, remote work is undergoing a surge in popularity
Well-known remote-work-friendly companies like Zoom have seen a rise in usage, while Slack has already reported that it is successfully
converting new users into paying customers, which is pushing up its growth rate.
The pandemic is creating economic and social upheaval, but
for a specific cohort of software companies that help distributed teams work together, it proven useful in business terms
But even before the outbreak of the novel coronavirus, execs from a standout project management company swung by TechCrunch HQ to chat with
the Equity crew about their business and growth: Monday.com.
What does an interview with Monday.com Eran Zinman (co-founder and CTO) and Roy
Mann (CEO) have to do with COVID-19? Well, if remote-productivity-friendly services Slack and Zoom are seeing usage spikes amidst the
changes, Monday.com is likely benefiting from similar gains
And during our chat with the company brass, the pair told TechCrunch that their company had crossed the $130 million annual recurring
revenue (ARR) mark by mid-February
Add in a COVID-19 usage boost and perhaps Monday.com (which doesn''t have a free tier) is seeing its growth accelerate.
Previously,
Monday.com announced that it had reached the $120 million ARR mark, and TechCrunch had inducted it into the $100 million ARR club earlier
this year.
Revenue expansion was not our only topic
We also chatted with the pair of execs about customer acquisition costs and how to a run a SaaS business without terrifying burn
The Monday.com crew had more news up their sleeve, like when they expect the unicorn to become cash-flow positive.
We&ve excised a
larger-than-usual chunk of the interview for sharing, as there a lot to take in:
After the jump, we dig a bit deeper into the obvious IPO
