SAN FRANCISCO, Aug. 25, 2020 /PRNewswire/ -- MURAL, the leading digital workspace for visual collaboration in the enterprise, has closed $118 million in Series B funding, led by Insight Partners and joined by Tiger Global, Slack Fund, World Innovation Lab, and existing investor Gradient Ventures. Numerous other investors participated in the funding, including Ryan Smith, CEO and co-founder of Qualtrics; Bill Veghte, CEO of AthenePartners, former Microsoft SVP and former HP COO; and Allison Pickens, former COO of Gainsight. Jeff Lieberman, managing director at Insight Partners, has joined MURAL's Board of Directors and Insight Partners managing director, Nikhil Sachdev, has joined the Board as an observer.
"MURAL has repeatedly supported massive implementations and met the exacting specifications of global enterprises," said Jeff Lieberman of Insight Partners. "The company has shifted from a startup to a scaleup, not only growing revenue through rapid expansion within Fortune 500 companies, but also onboarding new enterprise customers and consulting partners at high velocity. Insight Partners looks forward to helping to accelerate market adoption of MURAL to support the future of team collaboration."
Enterprise teams and consulting leaders use MURAL to generate common understanding and solve problems through visual collaboration. More than an online whiteboard, MURAL enables innovation at scale. It is a digital workspace for product strategy and planning, research and design collaboration, facilitated workshops that use agile and design thinking methodologies, and sales and consulting engagements. MURAL integrates with Slack, Microsoft Teams, Dropbox, JIRA, Google Drive, and GitHub, among other platforms.
The Series B capital will enable MURAL to expand adoption to new types of teams and use cases within enterprises; extend its go-to-market operations globally; accelerate development of new enterprise-ready features; and deepen its community engagement initiatives that support facilitators, design thinkers, and agile experts as they advance the way teams work together.
"Slack Fund invests in companies that are reinventing the future of work, especially those addressing the unique challenges presented by distributed teams," said Jason Spinell, director, Slack Fund. "As the system of record for visual productivity, MURAL gives teams the ability to develop ideas in real-time to enhance innovation and collaboration at enterprise scale. We have seen that when integrated with the Slack platform, MURAL's solution transforms how distributed teams interact and imagine together to get work done."
"Imagination at work is key to innovation. The visual methods made popular to collaborate on ideas are here to guide us," said Mariano Suarez-Battan, MURAL's co-founder and CEO. "Early adopters in some of the largest organizations in the world realized that they don't need to be in the same room to turn imagination into innovation through visual collaboration. They now feel comfortable doing product strategy, improving processes, and engaging customers remotely. Today, everybody else is rushing to develop this level of remote work fluency. With this funding and the expansion of our team, we are ready to support teams all over the world in their journey."
MURAL has tripled annual revenue year over year, doubled headcount, and added more than a million monthly active users around the world so far this year. Enterprises such as IBM, Autodesk, Intuit, GitHub, and Atlassian each have up to tens of thousands of MURAL members collaborating with the product each month.
MURAL is the leading digital workspace for visual collaboration in the enterprise. Teams depend on MURAL to understand and solve problems and build consensus using visual methods. More than an online whiteboard, MURAL enables innovation at scale by providing a platform for everything from product strategy and planning to leading immersive workshops using agile and design thinking methodologies. Industry-leading teams at companies including IBM, IDEO, Autodesk, Intuit, GitHub, and Atlassian use MURAL to work together — at any time and from anywhere. Learn more at www.mural.co.
ABOUT INSIGHT PARTNERS
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.