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Miro, a visual collaboration and online whiteboarding platform used by companies like Dell, Cisco, and Deloitte, has raised $400 million in a series C round of funding at a whopping $17.5 billion valuation.
The company’s raise comes as companies across the spectrum have had to rethink how they work within an increasingly distributed workforce.
The Miro platform, which now claims some 30 million users, can be used to stage meetings and workshops, run brainstorming sessions, plan sprints, and illustrate complex concepts visually through mapping and diagramming — all built upon a web-based whiteboard and “zoomable” canvas.
Above: Miro: Mapping and diagramming
With support for both asynchronous and real-time collaboration, Miro is built to aimed at smaller businesses and regional divisions, as well as larger global enterprises that operate across time zones. Miro also packs a bunch of enterprise-grade features such as single sign-on (SSO), permissions management, analytics, and more.
Initially founded in 2011 as RealtimeBoard, Miro had previously raised $76 million, the lion’s share arriving via its series B funding round nearly two years back — just as the world was going into lockdown. Fast-forward to today, and much of the world remains partly in lockdown, with many employers supporting at least a hybrid work approach. This has guided Miro’s user base to grow by 500% from the 5 million it reported in April 2020, while its paying customer base has increased from 20,000 to 130,000. Moreover, Miro now claims to work with 99% of Fortune 100 companies, with 20 enterprise clients paying at least $1 million each annually.
“We believe that our platform is now more important than ever as organizations around the globe are redefining the way they work — looking for new ways to engage teams and do away with siloed thinking,” Miro CEO and cofounder Andrey Khusid said in a press release.
The company’s series C investment included both institutional and angel backers such as Iconiq Growth, Accel, Atlassian, Salesforce Ventures, and Snowflake CEO and chairman Frank Slootman.
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