The valuation of Monday.com, an Israeli startup that makes software to help employees work remotely, jumped to $2.7 billion, according to people familiar with the matter, managing a 42% increase since it last raised money even as many startups confront down rounds.
The Tel Aviv-based company’s worth jumped when some of its existing backers cut their stakes in a secondary share sale, said the people, who asked not to be identified because the terms were private. Monday.com was valued at $1.9 billion at its most recent funding round last year.
