Who owns Monday.com? Ownership structure explained (2026)

Monday.com is often described as an Israeli success story, and its ownership tells that story in miniature. It started as a side project inside another company, drew in a small group of Israeli and US venture funds, and then converted them into public shareholders through a 2021 Nasdaq listing. Today it answers to a broad public float rather than to any one owner.

That structure is worth understanding because it sits between two extremes. Monday.com is not founder-controlled through supervoting stock the way many US tech companies are, and it is no longer dominated by the venture firm that once held the largest block. Instead, ordinary shares carry one vote each, the founders' economic stake has been diluted below 15%, and control rests on a mix of their remaining shares, their operating roles, and one unusual special share.

Understanding who owns monday.com means separating three things: who holds the economics, who holds the votes, and who holds the levers of day-to-day control. In this case those three groups overlap but are not identical, which is what makes the company's ownership more interesting than a single name on a cap table.

Monday.com was founded in 2012 in Tel Aviv by Roy Mann and Eran Zinman, with early contributor Eran Kampf on the founding team. The product began as an internal tool built at the website-builder Wix to fix communication and transparency problems as that company scaled. Mann and Zinman spun it out as an independent business called dapulse, raised $1.5 million in seed funding, and rebranded it to monday.com in 2017. Given that origin, a useful comparison is Wix's own ownership structure, since the two companies share both a birthplace and a founder network.

The company sells cloud-based work software. Its platform lets teams build workflows for project management, sales and CRM, IT service management, and software development, and in 2026 it repositioned the product as an "AI work platform" that orchestrates tasks between people and AI agents. It remains headquartered in Tel Aviv, with a large office in New York, and employs several thousand people.

Monday.com is public, so its financials are disclosed. Trailing twelve-month revenue reached about $1.37 billion by mid-2026, up roughly 24% year over year, and annual recurring revenue crossed $1.5 billion. Second-quarter 2026 revenue was $365 million, up 22%, at a non-GAAP gross margin near 89%. That margin profile is typical of scaled subscription software, and readers who want to see how gross margin flows into operating profit can model it with an EBITDA calculator.

Monday.com is publicly held. It listed on the Nasdaq in June 2021, priced at $155 per share, and raised about $574 million at an implied valuation of roughly $6.8 billion. The shares trade under the ticker MNDY. There is a single class of ordinary shares, and each share carries one vote on shareholder matters, so voting power tracks economic ownership rather than being concentrated in a founder super-class. That makes monday.com more exposed to shareholder pressure than peers with dual-class stock, but it also makes the ownership picture easier to read.

The founders no longer hold a controlling economic stake. As of the company's 2025 annual report, co-founder and co-CEO Roy Mann was the largest individual shareholder, at roughly 10% of ordinary shares. Co-founder and co-CEO Eran Zinman held a smaller position, reported at around 3.4%, though the company's filings disclose founder holdings less granularly than a US proxy statement would. Their combined stake has fallen below 15% after IPO sales and secondary offerings.

Founder influence runs through one additional mechanism: a single, special "founder share" held by Roy Mann. That share carries no economic rights and no ordinary voting rights. What it does grant is a veto over a narrow set of decisions, including a change of control in which someone would acquire 25% or more of the company, a sale of substantially all assets, and changes to the company's core strategy. The founder share converts into a rightless deferred share if Mann transfers it, leaves the company, dies or is incapacitated, chooses to convert it, or falls below a threshold of roughly one-third of the ordinary shares and vested options. So this is a targeted, sunsetting veto rather than the permanent supervoting control seen at many founder-led firms.

Before its IPO, monday.com raised a little over $230 million across five venture rounds from a mix of Israeli and US investors. The table below sets out those rounds and the 2021 public offering that converted the backers into public shareholders. Lead-investor attributions vary slightly by source, and early-round valuations were not all disclosed.

Insight Partners, the New York growth-equity firm, was the defining early investor. It led monday.com's Series B in 2017 and held roughly 29% of the company right after the IPO, making it by far the largest shareholder. Insight then sold down most of that position by the end of 2023 and is no longer reported as a 5%-plus holder. Its co-founder, Jeff Horing, still chairs the board, so the firm's influence outlived its stake.

With Insight's exit, ownership shifted toward passive index managers. Vanguard and BlackRock, the two largest index-fund providers, together held around 15% of monday.com in early 2026. These are index-driven positions rather than strategic bets, so they bring scale but little direct involvement in strategy. Stripes and Sapphire Ventures, which led the later private rounds, and strategic buyers Salesforce and Zoom, which each purchased $75 million of stock at the IPO, rounded out the investor base. Salesforce competes with monday.com in CRM, and its cap table makes an instructive contrast: see Salesforce's ownership structure.

Monday.com had about 51.16 million ordinary shares outstanding as of December 31, 2025, nearly all of them held in street name through the Depository Trust Company. The float is therefore dominated by institutional and retail public investors rather than insiders. Because the stock has fallen sharply from its highs, third-party market-cap figures have varied with the share count each tracker uses; the figures here follow trackers reporting about $3.85 billion in early September 2026. Investors trying to judge whether that price is cheap or expensive for a company still growing above 20% can run a business valuation against its revenue and cash flow rather than rely on the headline number.

Day-to-day control sits with the two founders. Roy Mann and Eran Zinman serve as co-founders and co-CEOs, a structure they have used since before the IPO, and both sit on the board. Zinman was re-elected as a director in 2026 to serve through the 2029 annual meeting, a confirmed sign that the co-CEO arrangement continues.

The board has seven members: the two founder-executives plus five independent directors. Jeff Horing, co-founder and managing director of Insight Partners, chairs the board. The independent directors include Avishai Abrahami, co-founder of Wix, along with Aviad Eyal, Gili Iohan, Ronen Faier, and Petra Jenner. That composition keeps a majority of independent voices on the board even though the founders run the company.

The clearest lever of founder control is structural rather than a matter of raw share count. With ordinary shares diluted below 15% between them, Mann and Zinman rely on their executive roles, their board seats, and the founder-share veto to steer the company. That veto is narrow and time-limited, so their long-run control depends on performance and on retaining shareholder support rather than on entrenched voting power.

In 2026 monday.com faced criticism over executive compensation. Weeks after announcing a restructuring that cut about 600 roles, roughly 20% of its workforce, the company sought to increase the pay of its co-CEOs. Shareholders ultimately backed compensation packages reported at about $14 million each. The timing drew public criticism, and it illustrates the tension a one-share-one-vote company faces when insiders own a minority of the stock but still set the agenda. The governance and reputational exposure created by decisions like this is the kind of item a competitive analysis template or risk review would flag when sizing up the company.

Monday.com's share price fell sharply in 2026, down about 70% over the year and far below its late-2021 peak. In July 2026 the company announced a plan to re-architect its product around AI agents, taking net charges of roughly $45 million to $55 million, mostly severance and office-space impairments, to fund an estimated $100 million in annual savings that it plans to reinvest in AI. Management guided to 19% to 20% revenue growth for the year while warning of temporary disruption, lower net-dollar retention, and currency headwinds. The strategy is a real bet: it concentrates the company on an AI transition at the same time public shareholders are repricing the stock.

As a company incorporated and headquartered in Israel, monday.com carries country-specific risks that it discloses in its annual filings. These include regional security conditions, the potential call-up of employees for military reserve duty, and currency and tax exposure tied to Israeli operations. None of these represents a regulatory finding against the company, but they are structural factors that any owner of the stock inherits.

Monday.com's ownership shapes how much freedom its founders actually have. Because voting power tracks economic ownership and the founders hold under 15% between them, the company is more exposed to shareholder activism and to a hostile approach than a founder-controlled peer would be. The narrow founder-share veto blunts a takeover but does not give the founders open-ended command over strategy or the board. In practice, Mann and Zinman lead by holding the CEO roles and delivering results, not by outvoting everyone else.

For investors, the shift from a single dominant backer to a base of index funds changes the dynamics. Insight Partners once held nearly a third of the company and shaped its governance; now Vanguard and BlackRock hold large but passive stakes that follow the index rather than push a strategy. That leaves more room for activists or for the market itself to discipline management, which matters after a 70% drawdown and a contested AI pivot. It also means the register of who owns monday.com looks much like that of other scaled public software firms, a contrast with the concentrated control still seen at rivals such as Atlassian's founder-led ownership.

For customers and employees, the structure cuts both ways. Public ownership brings disclosure, so users can see the company's revenue, margins, and cash position before committing to its platform, and it gives the business access to public capital. The trade-off is quarterly pressure, which contributed to the speed and scale of the 2026 layoffs and the aggressive reinvestment into AI. The same forces reshaping monday.com are visible across the broader industry, as the wider SaaS marketing statistics show, and they fall hardest on companies whose ownership demands growth and profitability at the same time.

Monday.com is run by two co-CEOs, Roy Mann and Eran Zinman, who also co-founded the company in 2012. Both sit on the board, and the co-CEO structure has been in place since before the 2021 IPO. Jeff Horing of Insight Partners chairs the board.

Yes. Monday.com listed on the Nasdaq in June 2021 under the ticker MNDY. It has a single class of ordinary shares that each carry one vote, and its market capitalization was about $3.85 billion in early September 2026, down sharply from its late-2021 peak near $13.6 billion.

Roy Mann and Eran Zinman founded the company in 2012, with early contributor Eran Kampf. It began as an internal tool at Wix, was spun out as a separate company called dapulse, and was renamed monday.com in 2017. Both founders still lead the business as co-CEOs.

Ownership is spread across index funds, the founders, and former venture backers. Vanguard and BlackRock together held roughly 15% in early 2026, co-founder Roy Mann held about 10%, and co-founder Eran Zinman held a smaller stake. Insight Partners, once the largest holder at about 29% after the IPO, has sold down most of its position, though its co-founder still chairs the board.

No. Monday.com began as an internal tool at Wix, but it was spun out as an independent company in 2012 and Wix does not own it. The connection survives through people rather than equity: Wix co-founder Avishai Abrahami sits on monday.com's board.

Monday.com raised a little over $230 million in venture funding before going public, then about $574 million in its 2021 IPO at a roughly $6.8 billion valuation. Its value peaked near $13.6 billion in late 2021 before falling to about $3.85 billion by early September 2026.