monday.com is to open its first office in the UK as it targets further growth across Europe. The new London office will act as the headquarters for Europe as it continues its rapid expansion and growth. This expansion follows its IPO earlier this year and superb Q3 results. It achieved 95% revenue growth year over year in Q3 and also announced new teams in Sao Paolo and Tokyo.
The UK is a key market for the company. It already has 13,000 customers including several enterprise customers such as BBC Studios and Ocado. It’s now making a bigger commitment to growing its team in the UK and its partner ecosystem.
It currently lists eleven partners with a presence in the UK. However, four are global Si’s, Cementica has a partner company in the UK and NCheng LLP has no presence at all. Only two appear to have a significant presence in the country, Enable.services and Automation Consultants. Provident CRM is mainly based in Eire.
It plans to grow its partner channel in the UK by 70%. Bearing in mind the above numbers, that could be anything from one to eight. Enterprise Times asked monday.com to confirm the target number but to date, no response was received.
Naveed Malik, Regional Director EMEA at monday.com commented, “We’re very excited to onboard new partners that understand the local market and use monday.com to fit their needs, build their own unique solutions on top of monday.com and to be our true partners in democratizing the power of software. Broadening our presence in the UK will help us grow our local partner ecosystem to more than double in the year ahead and further expand in Europe.”
Employee likely to fuel growth
More significant is the growth in employee numbers. LinkedIn lists the company as having 36 employees in the UK. monday.com plans to double this in the next twelve months. It already lists eleven open positions on its website in the UK. These include consulting, sales, marketing and operations.
Will Hale, Northern European Leader, monday.com commented, “The expansion in the UK market is another key phase in monday.com’s continued growth, and marks the company’s first office directly serving the European market. We’re thrilled to welcome new customers and partners and to build out our thriving team in London, allowing more companies to excel and grow with monday.com Work OS.”
Enterprise Times: What does this mean
Expect to hear more from monday.com in 2022 as it settles into its new home. It is likely to start new marketing campaigns to add further customers. Existing customers will also benefit from a local presence. monday.com has embarked on a rapid growth plan to capture customers and revenue ahead of its rivals. Can it maintain the momentum through 2022?