Monday.com expands Tel Aviv office space by 50%, plans 20% workforce growth
Monday.com expands Tel Aviv office space by 50%, plans 20% workforce growth
The software company will add 11,000 square meters in Azouri EcoTower while retaining its 17 floors in the TOU Towers.
Software company monday.com is expanding its office space. The company will lease 10 floors, covering 11,000 square meters, in the Azouri EcoTower on Hamasger Street in Tel Aviv. The new offices will include 100 parking spaces, with occupancy expected by late 2025. These offices will complement the 17 floors—spanning 22,000 square meters—that monday currently leases in the TOU Towers on Yitzhak Sadeh Street.
Monday, which develops a multi-product platform, employs 2,500 people worldwide, including 1,500 in Israel. The 50% increase in office space is driven by the company's expansion plans and the recruitment of additional employees. Monday plans to grow its workforce by 20% and is currently hiring for 400 open positions in Israel. This expansion is part of the company’s broader global growth strategy.
As part of this strategy, monday’s London office will move to a new complex in June 2025, tripling its current space. In the U.S., the company expanded its Denver office by approximately 2,500 square meters last November. Additionally, monday is significantly increasing its presence in São Paulo and launching new offices in France and Germany.
Azouri EcoTower is the first ecological building in Tel Aviv, meeting the stringent LEED Gold certification—the highest American standard for green building. The tower is designed to be energy-efficient and features systems for recycling air conditioner water and capturing up to 80 liters of rainwater per day.
Currently, monday pays NIS 2 million per month for its offices in the Rubinstein Tower, which it shares with the law firm Herzog Fox Neeman (HFN). Although the company signed a 10-year lease for its current space, typical agreements include an exit option after five years, allowing Monday to vacate the floors in 2026.
Founded in 2014 by Roy Mann and Eran Zinman, monday has grown into one of Israel’s largest high-tech companies. It is publicly traded on Wall Street with a market valuation of $12 billion. Recently, monday announced it had reached an annual recurring revenue (ARR) of $1 billion. In addition to organic growth, the company has signaled that acquisitions are under consideration, which would further expand its workforce.
Monday ended the first half of 2024 with $453 million in revenue—a 38% increase year-over-year—and posted a net profit of $22 million, reversing a loss of a similar amount in the previous year.
