US-based visual collaboration software producer Mural completed a $118m series B round yesterday featuring Gradient Ventures and Slack Fund, investing on behalf of internet technology provider Google and messaging platform developer Slack.
Growth equity firm Insight Partners led the round, which included Tiger Global Management, World Innovation Lab and private investors including Ryan Smith, Bill Veghte and Allison Pickens. Insight Partners managing director Nikhil Sachdev has taken a board observer role at Mural.
Mural is the creator of a software platform that allows commercial teams to collaborate on planning, strategy and product design through an online whiteboard. It can also integrate with other enterprise products including Slack’s communication application.
Slack Fund director Jason Spinell said: “Slack Fund invests in companies that are reinventing the future of work, especially those addressing the unique challenges presented by distributed teams.
“As the system of record for visual productivity, Mural gives teams the ability to develop ideas in real time to enhance innovation and collaboration at enterprise scale. We have seen that when integrated with the Slack platform, Mural’s solution transforms how distributed teams interact and imagine together to get work done.”
Growth equity fund Radian Capital led the company’s last round, a $23m series A in January this year that included Gradient Ventures and Endeavor Catalyst.
Mural had previously raised less than $2m, taking seed funding from chipmaker Intel’s investment arm, Intel Capital, Alta Ventures, 500 Startups and various angel investors in 2012, and adding $1.35m from Intel Capital, Alta Ventures, NXTP Labs and Collaborative Fund in 2016.
