The multinational software company has reaped the rewards of working remotely, having expanded to five new locations and adding staff.
Miro, a software company that focuses on facilitating “co-creation” between remote work teams, has seen a significant increase in users over the past 20 months. The virtual whiteboard software company saw its number of users jump from 5 million to around 30 million.
In a blog post published today (January 5), Miro co-founder and CEO Andrey Khusid said its “unprecedented growth” is a testament to “the urgency with which companies are redefining the way they work “.
What is Miro?
Founded in 2011, the software company is headquartered between Amsterdam and San Francisco. Then called RealtimeBoard, Miro was created when Khusid, who has a background in design, realized he needed a platform to allow his design agency to collaborate with clients and colleagues who were in a different place. The virtual whiteboard he created eventually evolved into Miro. The platform supports teams spread across a variety of industries, from engineering to sales and marketing, to organize brainstorming sessions, design projects, and manage workflows.
In line with Khusid’s design experience, it offers clients a choice of different working models so that they can visualize and map their strategies together. It also has a resources section on its website where users can find out how to navigate remote work and collaboration.
Image: Miro
It has 11 hubs in Europe, the United States, Sydney and Tokyo. Five of them have been opened in the last 12 months. The company also has a plethora of experienced investors and advisors, including Google Meet founder Jake Knapp, Intercom founder Des Traynor, and former Atlassian management team members Alex Estevez and Sherali Karimov.
Khusid’s blog was posted to celebrate the announcement of Miro’s successful close of its Series C funding round, bringing its current valuation to $17.5 billion.
“For more than a decade, Miro’s vision has been to create an infinite canvas for better collaboration, both in person and online, helping organizations unleash creativity and drive meaningful results,” said said Khusid.
“We believe our platform is now more important than ever as organizations around the world redefine the way they work – looking for new ways to engage teams and get rid of siled thinking. Thousands of organizations use Miro’s platform every day to harness the power of collaboration to fuel new ideas, solve complex problems, and bring new products to market. We believe the “Miro Method” will be the spark that allows teams to turn imagination into execution and opportunity into reality.
The company plans to use the fund to advance product development and programs designed to bring the visual collaboration platform to more companies, as well as continue to expand its global footprint. Its current clients include Cisco, Dell, Deloitte, HP, Kaiser Permanente, Liberty Mutual and Okta.
Miro has been riding the wave of remote work for some time now, closing a $50 million Series B funding round in 2020. Last year, the company also increased its workforce from 585 to 1,200 to cope with its rapid expansion.
“Since our initial investment, Miro has evolved with tremendous momentum, strong market leadership and incredible production speed,” said Matthew Jacobson, general partner of Iconiq Growth, which was part of the latest investment round.
“We believe Miro sits at a powerful intersection between asynchronous and synchronous work,” he added. “In our opinion, Miro’s customer-centric culture positions it well to address a myriad of use cases in hybrid working for over one billion knowledge workers worldwide.
John Doran, General Partner of TCV, which also invested in the round, said the “intuitive, accessible and purpose-built collaboration platform enables teams to bring everyone to the table to co-create,” positioning Miro “as an essential part of the new software stack that drives modern and hybrid working models.
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