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We started the company 10 years ago with a very simple idea of bringing the whiteboard into a browser. How is the Miro of today different from the Miro of 2011, when you helped found the company? This interview has been condensed and edited for clarity.
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Protocol chatted with Khusid about Miro’s transformation from “just a whiteboard” to a visual collaboration platform, its focus on meetings and its role in the workplace. The company reports its users have grown from 5 million to 30 million since April 2020. CEO Andrey Khusid said Miro’s never been “focused on how much the company’s valued, we were focused on the value we create for users.” But it’s hard not to shout from the rooftops about a $400 million funding round and a $17.5 billion valuation. Miro has kept its financial metrics under wraps since the beginning of the pandemic in April 2020, when the company was worth $725 million post-money. AirTable reached decacorn status at $11.7 billion last month. ClickUp, another productivity platform, also raised $400 million: At the time, it was one of the biggest series C funding rounds in the workplace productivity market ever. Workplace tools like Miro have surged in popularity through the pandemic, and investors have taken notice. As we ease into 2022, productivity apps still can’t stop making money. The company recently raised $400 million in its series C funding round. Miro has no problem with both: the company is on track to make more than $300 million in annual recurring revenues this year, three times what it made in 2020, and as of last year was profitable.Whiteboard tool Miro announced today that it has joined the unicorn ranks with a $17.5 billion post-money valuation. The Bottom Line: Some start-ups prioritize scale, others profitability.
Online miro series iconiq growth 725m software#
Researchers at Gartner estimate visual collaboration software have received a 10-fold increase in interest in just the last 18 months.In September, Australian design software company Canva raised $200 million that valued it at $40 billion, while competitor Figma raised $200 million at a $10 billion valuation in June.It would be just the latest workplace collaboration start-up to fetch a massive valuation:
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Other investors have tabled offers that would value the company at $20 billion. The company - which has 25 million users and 95% of Fortune 100 companies as clients - is now in talks with wealth investment firm Iconiq Capital for a $400 million round that would value Miro at $17 billion. Working from home became an essential component of life for almost every white collar worker on the planet, and Miro had spent the last decade building software for that very purpose.
Online miro series iconiq growth 725m free#
The company, now jointly headquartered in San Francisco and Amsterdam, spent the last decade in modest growth, building out free and subscription-based software for teams to collaborate in shared, visual workspaces.Īnd then, of course, the pandemic happened. When Andrey Khusid founded Miro in Russia in 2011, all he wanted was a virtual whiteboard so he could talk to clients of his design agency that weren't in the room. It's a testament to the enduring appeal of work-from-home tech, and the emerging metaverse. On Thursday, the Financial Times reported that Miro - a software company that lets teams and coworkers use shared, visual workspaces - is on the precipice of fetching an enormous valuation. An app that lets coworkers use a whiteboard in digital space is worth between $17 billion and $20 billion. A real life 36" x 24" dry erase white board goes for as little as $30 on Amazon.