This member of the $100M ARR club keeps surprisingAs 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, its proven useful in business terms.
But even before the outbreak of the novel coronavirus, execs from a standout project management company swung by A Technology News Room HQ to chat with the Equity crew about their business and growth: Monday.com.What does an interview with Monday.comsEran 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 companys brass, the pair told A Technology News Room 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 doesnt have a free tier) is seeing its growth accelerate.Previously, Monday.com announced that it had reached the $120 million ARR mark, and A Technology News Room 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.Weve excised a larger-than-usual chunk of the interview for sharing, as theres a lot to take in:After the jump, we dig a bit deeper into the obvious IPO candidate