Good Monday, the Copenhagen-based startup that aims to make employees happier and workspace management more efficient, has raised $ 4 million (€ 3.5 million). Leading the round is Firstminute Capital, with participation from existing investors Creandum, Seed Capital, and Preseed Ventures.
The new capital will be used to expand to London, fuel product development, and accelerate the mission to change the way companies run their offices.
Founded in May 2018 by Mik Strøyberg, Good Monday has built a Workspace Management Platform with an integrated marketplace of office services. This includes everything from cleaning, coffee, and lunch to employee benefits such as gifts, flowers, birthday cakes, and yoga. The platform gives companies full flexibility and provides a complete economic overview of how the office is run. In other words, Good Monday has taken the infrastructure from co-working, made it digital, and injected it into private offices.
During COVID-19 the platform has only become more relevant according to Mik:
“The current situation has been a huge challenge but most importantly it has validated exactly why our customers have chosen us. We started Good Monday in 2018 with the promise of full control, overview, and no long terminations periods. More than ever, we now see the true power of our easy-to-use platform, which really shows to free up resources for our customers to focus on other tasks than the workspace-related ones,” says Mik
Next up: London
So far, Good Monday has been operating in Copenhagen and with more than 150 companies on the client list – ranging from tech startups to embassies and law firms – it’s now time to take on a new market: London.
The vision for the Danish startup is to become the world’s leading Workspace Management Platform. At the first stop on that international journey, the London office is set up with five employees and multiple clients are already on board.
Making the international expansion financially possible is primarily the UK early-stage VC Firstminute Capital, led by Brent Hoberman. According to Hoberman, who’s also the founder of Lastminute.com, Good Monday is a unique player when it comes to changing the way an office is run.
“COVID-19 has changed the office space as we know it. As lockdown eases, it will be more important than ever for office environments to offer something compelling enough to compete with the benefits of working from home. Such services – that help build a strong office culture and a more productive work environment – are the types of services that Good Monday’s marketplace unlocks,” says Brent
“Good Monday taps into the same zeitgeist as co-working spaces, offering companies a headache-free office environment, but with a radically more sustainable and capital-efficient business model. We’re proud to back team Good Monday as they expand internationally to make office operations smoother, more transparent, and fun,” he continues.
In 2019, Good Monday reports it has seen a 230% growth in revenue and a 430% growth in the number of customers. With this latest capital injection, Good Monday has now received close to $ 7 million (€ 6 million) in less than 2 years, and at the start of next year, the startup says it is looking to raise a Series A.