Visual collaboration firm Miro bags USD 400 Mn in Series C funding

Author : Pankaj Singh | Published Date : 2022-01-07 

Miro, a visual collaboration organization has reportedly raised USD 400 million in a Series C fundraising round, bringing its valuation to USD 17.5 billion.

The round was led by Iconiq Growth and fellow investors including Atlassian, Dragoneer, Accel, Salesforce Venture, GIC, and TCV. Airtable co-founders, Andrew Ofstad & Howie Liu, Snowflake CEO Frank Slootman, and DocuSign CEO Dan Springer were among the individual investors.

Over 100 apps are integrated into the company's solutions, with help from collaborations with Atlassian, Google Workspace, Cisco, Microsoft Teams, and Zoom. It also boasts of nearly 1,000 templates to enable users and their teams to work together quickly, regardless of their geographic locations.

Since the company was launched in 2011 by Oleg Shardin and Andrey Khusid, Miro has received USD 476 million in total funding.

Andrey Khusid, CEO of Miro intends to use the new funds to invest in product and technology development, as well as for expanding its global footprint and bringing products to more enterprise clients.

Visual collaboration is a tool that helps companies' teams communicate more effectively. It is a fantastic chance to better communicate ideas, issues, and design solutions, Khusid mentioned in a statement.

Furthermore, with the venture capital market currently favorable and given Miro's ambition of developing a generational firm, it seemed logical to seek extra money to ensure that the resources needed to build a great brand for customers were in place. 

Miro, which has its headquarters in both San Francisco and Amsterdam, had raised USD 50 million in a Series B financing round headed by Iconiq Capital in 2020. Since then, according to Khusid, the company's user base has surged  500% - from just 5 million to a massive 30 million, while its paying customer base has grown by 550%.

For the record, the company has grown to employ 1,200 people in 11 hubs across the world in the last year, while incorporating new offices in Munich, Berlin, Sydney, London, and Tokyo.

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Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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