The following is a Nov. 17 press release from the project management software company Monograph announcing an additional $20 million in funding to expand its practice operations.
Monograph, a San Francisco-based technology company revolutionizing practice operations software for the architecture and design professional community, has officially closed $20-million Series B funding. Tiger Global Management, LLC, an investment firm focused on public and private companies in the global Internet, software, consumer, and financial technology industries, led the funding, with participation from Index Ventures, Homebrew, and Tishman Speyer.
Since its inception in 2019, Monograph’s cloud-based platform equips architecture and design professionals with top-of-the-line digital workflows to manage their firms while transparently collaborating on projects with multiple stakeholders. Robert Yuen, Alex Dixon, and Moe Amaya—three design technologists with backgrounds in architecture—founded Monograph to revolutionize communication and operations within firms. Comprising architects, landscape architects, designers, and technologists, Monograph’s team builds easy-to-use tools to help design professionals oversee projects, timesheets, and forecasts in one integrated and simple interface. To date, Monograph’s platform has helped manage over $550 million in projects of all scales.
“This announcement is a testament to the hard work the Monograph team has accomplished over the 18 months during these unprecedented times,” said Robert Yuen, Co-Founder and CEO of Monograph. “Monograph was created in response to an industry-wide issue in architecture and design. In three short years, we have received tremendous support from our colleagues and friends in the industry. Just this year, our team hosted our first-ever virtual conference—Section Cut, and we were blown away by the number of attendees. Our team is more motivated than ever to improve the financial health of architecture and design firms across the country, following the closure of the Series B funding.”
John Curtius, Partner at Tiger Global Management, was closely involved in the recent Series B funding, added, “We are confident that Monograph’s innovative and industry-leading software solutions, paired with their community building within the architecture and design industry, will drive rapid global adoption and accelerate breakthroughs in practice operations. We’re excited to partner with Robert, Alex, and Moe given their unique perspective of project and cost management for the architecture and design industry.”
The $20-million Series B funding signifies a new milestone for Monograph, which helps accelerate Monograph’s growth as a premier practice operations platform. In March 2020, the tech startup raised $1.9 million in seed funding, led by Homebrew and Parade Ventures, with participation from Designer Fund, Hustle Fund VC as well as angel investors. And in May 2021, the company secured a $7.4-million Series A round of funding, led by Index Ventures with continued participation from existing investors Homebrew, Parade Ventures, Designer Fund, and several angel investors.
“Architects devote an incredible amount of time and effort toward their designs but encounter challenges when running the operations side of their business. They often rely on on-premise, outdated software or Excel spreadsheets,” said Nina Achadjian, Partner, Index Ventures, and a member of Monograph’s Board of Directors. “Built for architects by architects, Monograph offers world-class solutions for the architectural community to help them efficiently manage their businesses while productively allocating their time.”
Satya Patel, Co-Founder of Homebrew Ventures, added, “The team at Monograph acutely understands the pain points of the architecture community. They empathize with their growing customer base and offer practice operations that are easy, intuitive and optimized to fit the needs of today’s firms. More importantly, Monograph has tapped into a profitable market opportunity, taking into consideration all of the stakeholders involved in construction and design projects and the dollars that are spent on them. Monograph has a very specific vision for how to make project management less painful, more efficient and more profitable for all stakeholders.”