(Reuters) - Israeli work management company monday.com is aiming for a valuation of more than $6 billion in its U.S. initial public offering, according to a regulatory filing on Tuesday.
The company, with backers including venture capital firm Sapphire Ventures and investment manager Hamilton Lane (NASDAQ:HLNE), plans to sell 3.7 million shares for $125 to $140 apiece, raising up to about $518 million. https://
Salesforce.com (NYSE:CRM)'s investment arm and Zoom Video Communications (NASDAQ:ZM) have each agreed to buy $75 million of monday.com's shares in a private placement, the company said.
monday.com was valued at $2.7 billion after its last funding round, Bloomberg News reported in May last year. (https://bloom.bg/3hxgWNY)
Launched in 2014 and co-led by top bosses Roy Mann and Eran Zinman, the company handles work processes ranging from project management and tracking tasks to projecting sales and event coordination.
Goldman Sachs (NYSE:GS), J.P. Morgan, Allen & Co and Jefferies (NYSE:JEF) are among the underwriters for monday.com's IPO. It will list on Nasdaq under the symbol "MNDY".