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Miro achieves $17.5bn valuation, fuelling continued expansion

Digital collaboration vendor Miro has raised $400 million (£299m) through Series C fundraising, fuelling expansion further by adding growth hubs in Amsterdam and Tokyo.

Andrey Khusid, co-founder and chief executive of Miro, said thousands of organisations are using Miro’s collaboration platform every day to nurture new ideas, solve complex problems and bring new products to market.

“We believe our platform is now more important than ever as organisations around the globe are redefining the way they work — looking for new ways to engage teams and do away with siloed thinking,” Khusid said.

Miro’s total funding is now at $475m, bringing it to a “post-money” valuation of $17.5bn.

Khusid said that Miro technology can help distributed teams transform “imagination into execution”.

The company boasts 30 million users worldwide of its visual collaboration and cloud whiteboarding tools — reflecting a 500% growth in the user base since April 2020.

“As a profitable company, Miro will invest the capital in product development and programmes designed to bring the visual collaboration platform to more enterprises, and continue expanding its global footprint,” the firm said in its official announcement.

Investors in the Series C round included ICONIQ Growth, Accel, Atlassian, Dragoneer, GIC, Salesforce Ventures, and TCV, it added.

In February, Miro cuts the ribbon on its second headquarters — in Amsterdam. The new hub becomes the largest of 11 locations across the US, Europe and Asia, with the Amsterdam-based workforce set to expand from 441 to nearly 1,000 staff in the next year across all functions.

Khusid said: “As an Amsterdam resident, I’m constantly inspired by the energy of this city and its growing technology scene.”

The announcement follows the opening of its Tokyo office to serve Japan-based enterprise customers, with jobs and Japanese product localisations to follow. It also recently expanded its presence in Austin, Texas as well as opening new offices in Munich and Berlin.

Chris Hecht, corporate development head at Atlassian, said: “Enterprises are experiencing an undeniable shift in the ways that their teams come together to achieve business objectives and goals, and are eager for technology that can help foster stronger collaboration and engagement.”

( Photo by krakenimages on Unsplash )

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