Summary by Futu AI
On August 26, 2024, monday.com Ltd., a leading multi-product platform company, announced a significant financial achievement, reaching $1 billion in annual recurring revenue (ARR). This milestone comes just ten years after the launch of its Work Operating System (Work OS) and eight years after hitting $1 million in ARR. Co-founders and co-CEOs Roy Mann and Eran Zinman highlighted the company's journey from disrupting traditional work software to becoming a core platform for companies globally. The monday.com Work OS, known for its no-code, low-code capabilities, enables customers to create custom work management tools. The company has expanded its product suite to include monday work management, monday CRM, monday dev, and monday service, addressing various business needs. CFO Eliran Glazer emphasized the company's operational efficiency and the transition to a multi-product company as key factors in achieving this growth. monday.com, with a presence in multiple global locations, serves over 225,000 customers across diverse industries and is committed to continuous innovation and addressing customer needs.