(Bloomberg) — Monday.com Ltd., the workplace management software maker, priced its U.S. initial public offering above a marketed range to raise $574 million.

The Tel Aviv-based company sold 3.7 million shares for $155 each on Wednesday, according to a statement. It had marketed them for $125 to $140.

The IPO gives Monday.com a market value of about $6.8 billion based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission. Including stock options, the company’s diluted value would be more than $7.8 billion.

Salesforce.com Inc.’s venture arm and Zoom Video Communications Inc. has each agreed to purchase $75 million the company’s shares in a private placement at IPO price, according to Monday.com’s filings.

Venture capital firms Insight Partners and Stripes, as well as Entrée Capital, are among the biggest shareholders of Monday.com.

The offering is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co. Monday.com’s shares are expected to start trading Thursday on the Nasdaq Global Select Market under the symbol MNDY.

(Updates with statement in second paragraph.)

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

(305) 707 0888