Miro Raises $ 400 Million in Series C Funding Round to Accelerate Innovation Through Visual Collaboration in New Hybrid Workplace | Business and finance


Miró, the online platform for accelerating innovation through visual collaboration, announced the closing of a $ 400 million Series C funding. This investment will support Miro’s continued efforts to help organizations and businesses unleash creativity, increase productivity, strengthen collaboration, and innovate rapidly. With the global movement towards remote and hybrid working, Miro has grown its user base to 30 million and now works with 99% of Fortune 100 companies as they embrace a new digitally-driven way of working.

This new capital injection brings Miro’s total funding to $ 476 million and a post-money valuation of $ 17.5 billion. As a profitable business, Miro will invest capital in the development of products and programs designed to bring the visual collaboration platform to more businesses, and continue to expand its global presence. Series C investors include ICONIQ Growth, Accel, Atlassian, Dragoneer, GIC, Salesforce Ventures and TCV.

Since Miro lifted his $ 50 million Series B April 2020 round of funding, the company increased its user base by 500% (from 5M to 30M) and its paying customer base by 550% (from 20,000 to 130,000).

Miro, who pioneered the visual collaboration category, brings teams together in a shared online workspace that begins as a blank canvas to solve complex problems, design products and services, improve processes, exchange ideas. and bring them to life in an agile way. The platform enables a new way of working that allows teams to quickly and inclusive co-author – no matter where they are – with over 100 app integrations and nearly a thousand templates designed for help teams get started quickly.

“For over a decade, Miro’s vision has been to create an endless canvas for better collaboration, both in person and online, helping organizations unleash their creativity and drive meaningful results,” said Andrey Khusid, co-founder and CEO of Miro. “We believe our platform is now more important than ever as organizations around the world redefine the way they work – looking for new ways to engage teams and remove siled thinking. Thousands of organizations use Miro’s platform every day to harness the power of collaboration to fuel new ideas, solve complex problems, and bring new products to market. We believe the ‘Miro Path’ will be the spark that enables teams to turn imagination into execution and opportunity into reality. “

Through its advanced collaboration platform, Miro helps businesses, nonprofits and universities tackle complex challenges that can impact millions of people around the world, during critical times of transformation. Miro’s customers use the endless canvas to market much-needed medical treatments, design category-defining products, and create new avenues of learning.

Miro’s customers include many of the world’s most innovative companies including Cisco, Dell, Deloitte, HP, Kaiser Permanente, Liberty Mutual, Okta and many more. Miro currently has 20 corporate clients who each pay over $ 1 million per year each.

Key business milestones over the past 12 months include:

  • Doubling of staff from 585 to over 1,200
  • Opening of five new hubs, including Berlin, Munich, London, Sydney and Tokyo, bringing the total global footprint to 11 hubs worldwide
  • Deepening partnerships by introducing new integrations with Atlassian, Cisco, Google Workspace, Microsoft Teams, Zoom and others to enable users to add Miro’s visual collaboration layer to their existing workflows, tools and processes

“Since our initial investment, Miro has grown with tremendous momentum, strong market leadership and incredible product speed,” said Matthew Jacobson, Managing Partner of ICONIQ Growth and Member of the Board of Directors of Miro . “We believe Miro stands at a powerful intersection between asynchronous and synchronous work that captures and ignites creative processes everywhere. In our opinion, Miro’s customer-centric culture makes it well positioned to address a myriad of use cases in hybrid work for over a billion knowledge workers globally. We are delighted to continue our partnership with Andrey and the entire Miro team.

“Miro’s platform helps millions of users, organizations and businesses around the world collaborate, strategize and execute creatively using visual collaboration,” said Alex Kayyal, SVP and Managing Partner, Salesforce Ventures. “In this fully digital world of work wherever you are, Miro’s mission to bring impactful collaboration to hybrid work environments is vital. We have been deeply impressed with the company’s product focus, rapid growth and community ecosystem, and view Miro as a generational business disrupting productivity.

“Miro is one of a unique category of companies that have built their success on strong business fundamentals and product-driven growth,” said John Doran, General Partner at TCV. “Global organizations are embracing the platform to engage teams and collaborate in more meaningful ways, for use cases ranging from product design to business transformation management to implementation. complex processes efficiently and productively. Miro’s intuitive, accessible and purpose-built collaboration platform enables teams to bring everyone to the table to co-create and positions Miro as a critical part of the new software stack driving modern hybrid work models.

“Companies are experiencing an undeniable shift in the way their teams come together to achieve their business goals and objectives, and are hungry for technologies that can help build collaboration and engagement,” said Chris Hecht, Business Development Manager at Atlassian Company. “Miro provides organizations with technology that has the power to truly transform the way they work to create more, build more and achieve more together. “

Other investors include Howie Liu (co-founder and CEO, Airtable), Andrew Ofstad (co-founder, Airtable), Frank Slootman (president and CEO, Snowflake) and Dan Springer (CEO, DocuSign).

Miro and the Miro logo are registered trademarks of RealtimeBoard, Inc., in the United States and in jurisdictions around the world. All other brands, trade names, or service marks used or mentioned herein are the property of their respective owners.

Miro is an online visual collaboration platform designed to unleash creativity and accelerate innovation in teams of all kinds. The platform’s infinite canvas allows teams to run engaging workshops and meetings, design products, launch ideas, and more. Miro, headquartered in San Francisco and Amsterdam, serves 30 million users worldwide, including 99% of the Fortune 100. Miro was founded by Andrey Khusid and Oleg Shardin in 2011 and currently has over 1 200 employees in 11 hubs around the world. For more information, please visit https://miro.com/index/.

ICONIQ Growth partners with exceptional entrepreneurs and leaders who drive impact and change globally. We are inspired by visionaries defining the future of their industries by creating corporate cultures that last. Our unique investment platform harnesses the power of ICONIQ Capital’s vibrant ecosystem of founders, pioneers and CEOs with the goal of delivering tangible value and amplifying the success of our portfolio companies. , from the initial growth stage to the IPO and beyond. ICONIQ Growth’s portfolio of innovators includes Adyen, AirBnB, Alibaba, Alteryx, Automattic, BambooHR, Braze, Chime, Collibra, Coupa, Datadog, Docusign, Gitlab, Marqeta, Miro, Procore, Red Ventures, Relativity, ServiceTitan, Snowflake , Sprinklr, Truckstop, Uber, Wolt and Zoom, among others. For more information and a full list of portfolio companies, please visit https://iconiqgrowth.com/.

About Salesforce Ventures

Salesforce Ventures is the global investment arm of Salesforce and is focused on partnering with the most ambitious enterprise technology companies every step of the way. Since 2009, Salesforce Ventures has invested over $ 3 billion in over 400 leading companies including Databricks, DocuSign, Guild Education, Hopin, monday.com, nCino, Snowflake, Snyk, Stripe, Tanium and Zoom. Salesforce Ventures gives portfolio companies unprecedented access to Salesforce, one of the world’s fastest growing enterprise software companies, including strategic advice, client presentations and the fastest growing cloud ecosystem. solid. Salesforce Ventures has invested in more than 25 countries with offices around the world including San Francisco, Irvine, New York, London, Tokyo and Sydney. Follow @SalesforceVC and learn more about salesforce.com/ventures.

Founded in 1995, TCV was established with a clear vision: to seize opportunities in the technology market through a specialized and consistent focus on investing in high growth companies. Since its inception, the company has built a solid reputation for successfully supporting public and private companies that have emerged as dominant industry players in the areas of Internet, Software, FinTech and IT. business computing. TCV has invested over $ 16 billion to date and has assisted CEOs through more than 145 IPOs and strategic acquisitions. TCV has invested in leading tech companies including Airbnb, Believe, Brex, Dream Sports, FarEye, Mollie, Nubank, Razorpay, RELEX Solutions, Revolut, RMS, Sportradar, Spotify, Trade Republic, The Pracuj Group and Zepz. TCV has successfully executed over 350 investments from different structures, including mid-term, late-stage and public enterprise investments, and has offices in Menlo Park, New York and London. For more information on TCV, including a full list of TCV investments, visit https://www.tcv.com/.



Copyright Business Wire 2022.

PUB: 05/01/2022 06:45 AM / DISC: 05/01/2022 06:47 AM

Copyright Business Wire 2022.

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