Mural secures $50M series C at a $2B valuation to expand guided visual collaboration in the enterprise
Bill Veghte, founder of AthenePartners, to assume the role of Executive Chairman of the Board of Directors and Qualtrics Founder Ryan Smith appointed as an Advisor of MURAL.
July 20, 2021
SAN FRANCISCO, JULY 20, 2021 — MURAL, the leading provider of digital workspaces for guided visual collaboration in the enterprise, has closed $50 million in Series C funding, led by existing investors Insight Partners and Tiger Global. Following the company’s $118M Series B round in August 2020, this investment brings the company’s total funding to approximately $200 million and values the company in excess of $2 billion. AthenePartners Founder and former Microsoft SVP and HP COO, Bill Veghte, was appointed as executive chairman of the board of directors. In addition, MURAL announced it has appointed Qualtrics Founder and Executive Chairman, Ryan Smith, as an advisor to the company.
Bill Veghte shared, “Simply put, MURAL enables a better way to innovate, connect, and collaborate within a team and across teams, from product creation to customer engagement, to staff meetings to board meetings. MURAL transforms brainstorming and teamwork in a way that’s as fundamental to work as slides and spreadsheets. It is a privilege to work with Mariano and the MURAL team to help enable this transformation.”
The MURAL® platform is different from most collaboration platforms in that it supports enterprise teamwork with guided visual collaboration. The software offers teams in product, consulting, leadership, innovation, technology, sales and customer success, among others, a digital workspace for visual collaboration, as well as methods for ideation and co-creation. MURAL’s enterprise-grade software makes this kind of teamwork possible at any time and from any location with the security and controls demanded by the most sophisticated global enterprises.
Enterprise teams use guided visual collaboration in MURAL to work together from anywhere. MURAL co-founder and CEO, Mariano Suarez-Battan, shared, “Thoughtworks sought a way to adapt their global leadership offsite for remote participation. They wanted to retain the highly collaborative and interactive nature of an in-person workshop. With a focus on strategic planning, they found MURAL facilitated multiple key exercises, including prioritization, group voting, and retrospective sessions. This eliminated travel expenses, enabled asynchronous participation, and sped up the workshop.”
At global enterprise companies such as IBM, Microsoft, Facebook, Booz Allen Hamilton, Publicis Sapient, SAP, and Atlassian—as well as MURAL’s other customers—tens of thousands of teams collaborate visually with MURAL. They use visual methods to guide their work together and facilitation to foster team participation and imagination.
"MURAL helps thousands of enterprise teams run high-impact workshops and meetings. These teams can now go from ideation to innovation faster than ever before,” said John Curtius, Partner, Tiger Global. "MURAL’s platform and best-in-class member services help organizations completely reimagine what it means to work together. You can finally see a team’s ideas come to life, be shaped by methods and expert facilitators, and be turned into tangible plans of action. MURAL is making this happen, and it’s only the beginning.”
“Last year, Insight Partners saw teams transform how they interact and creatively work together through the adoption of digital-first visual collaboration with MURAL. Now, as organizations shift to a new hybrid way of working, MURAL is uniquely positioned to make it easy for teams to ideate and create together from anywhere.” said Jeff Lieberman, managing director at Insight Partners. “Our team has been using MURAL for our own workshop and board meetings, too. The meetings we run in MURAL are much more engaging and fun.”
MURAL plans to use the new capital to further platform development to support hybrid and distributed workforces. This includes new software integrations with Microsoft Teams, Zoom Video Communications, Inc., Webex by Cisco, and Atlassian. These integrations and more to come ensure teamwork remains accessible and inclusive from any location.
The funds will also support programs for MURAL’s growing community of tens of thousands of facilitators, team leaders, and design thinking and Agile experts. These programs will help visual collaboration pioneers—MURAL calls them “Playmakers™️”—share methods, playbooks, and best practices while learning from each other.
Finally, the company expects to further progress toward hiring targets and expand go-to-market efforts around the world.
Has more than tripled annual recurring revenue (“ARR”) year over year
Enables more than 100 customers that contribute more than $100,000 in revenue per year, an over 3x increase year over year
Enables seven customers that contribute more than $1,000,000 in revenue per year
Enables over 75 percent of the Fortune 100, up from around 40 percent at the end of 2019
Supports through the MURAL for Good Program over 2,300 nonprofits for free across education, health and safety, climate and environment, diversity and inclusion, economic growth, and global partnerships
MURAL is the leading provider of digital workspaces for guided visual collaboration in the enterprise. Different from online whiteboarding and design software, the MURAL® platform transforms teamwork by making meetings and workshops interactive experiences designed for problem solving, play, and imagination. Teams in product, consulting, leadership, innovation, technology, and sales and customer success, among others, collaborate visually with MURAL. They use guided visual methods and Facilitation Superpowers™ features to innovate, strategize, plan, and reflect. The platform makes it possible to deploy at scale templates and playbooks on especially complex, difficult teamwork. Tens of thousands of teams at companies such as IBM, Intuit, Facebook, Publicis Sapient, SAP, Thoughtworks, and Atlassian, as well as MURAL’s other customers, use the platform to foster inclusive, imaginative teamwork and turn shared ideas into a shared reality—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.
ABOUT TIGER GLOBAL MANAGEMENT
Tiger Global Management is a leading global technology investment firm with over $70 billion under management. The firm focuses on private and public companies in the internet, software, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Tiger Global's investments have included JD.com, UiPath, Stripe, Databricks, Bytedance, Snowflake, Facebook, Alibaba, Procore, Chime, Blend, Peloton, Attentive, LinkedIn, Flipkart, and Toast.