Miro Acquisition, Valuation, Funding & Investors
Miro was acquired by Bending Spoons for $1.4B in September 2026, a 2.3x multiple on $600M of revenue.
Miro revenue at acquisition
$600M
Last twelve months · Sep 2026
Miro revenue multiple at acquisition
2.3x
EV/Revenue · Sep 2026
Cumulative funding Miro raised
$476M
across 4 funding rounds
About Miro
Miro is a visual collaboration software company, founded in 2011 as RealtimeBoard by Andrey Khusid and Oleg Shardin and based in San Francisco with a large hub in Amsterdam. Its online whiteboard, now branded as an AI innovation workspace, lets distributed teams brainstorm, diagram, plan and prototype on a shared canvas. In 2026 it served more than 100 million users across 250,000 customers, with nearly 4 million paying users and around 600 million dollars in annual recurring revenue. It sells subscriptions, mostly to business and enterprise customers. Accel, ICONIQ, Atlassian, Dragoneer, GIC, Salesforce Ventures and TCV backed it, and a 400 million dollar Series C in January 2022 valued it at 17.5 billion dollars. It bought A Web Whiteboard, Around, Cardinal, Uizard and Reforge. Bending Spoons agreed in September 2026 to acquire it at an enterprise value of 1.355 billion dollars.
Founded
2011
HQ
San Francisco, CAWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$300M (Jan 2022)
Valuation
$18B (Jan 2022)
Miro Acquisition
Miro was acquired by Bending Spoons for $1.4B on 10 September 2026.
The acquisition price implies a 2.3x revenue multiple on $600M of revenue.
Before the acquisition Miro had raised $476M across 4 funding rounds.
Bending Spoons agreed to acquire Miro in an all-cash transaction valued at a $1.355 billion enterprise value, implying an equity value of about $1.79 billion after accounting for Miro’s net cash. As part of the deal, certain Miro shareholders will reinvest $295 million of their proceeds into newly issued Bending Spoons equity. The transaction fits Bending Spoons’ strategy of acquiring digital businesses and operating them with a disciplined, long-term ownership model. Miro said the business has grown to around $600 million in annual recurring revenue, with nearly 90% coming from business and enterprise customers, and the company is described as profitable with a large installed base of paying and total users. Miro is a workplace collaboration platform known for serving product, design, and enterprise teams, and the acquisition is expected to extend Bending Spoons’ portfolio of software assets. The deal was announced in September 2026 and is structured as a cash acquisition with a partial equity reinvestment by existing Miro shareholders.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 10 Sep 2026 | Strategic M&A | $1.4B | 2.3x |
Sources: investors.bendingspoons.com, techcrunch.com
Miro Valuation
Miro is currently valued at $18B, based on its Series C in January 2022. Read the announcement ↗
The $400M round was led by ICONIQ Capital, with participation from Salesforce Ventures, Dragoneer, Andrew Ofstad, Frank Slootman, Daniel Springer and 5 other investors.
Miro's valuation has grown 125x from $140M at its Series A in November 2018 to $18B in January 2022, across 2 priced rounds.
Miro valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2022 | Series C | $18B | 58.3x |
| Nov 2018 | Series A | $140M | 14.0x |
Miro Revenue
Miro's latest recorded revenue is $300M, as of its Series C in January 2022. At a $18B valuation, that implies a 58.3x revenue multiple.
Revenue grew from $10M in November 2018 to $300M in January 2022, while the revenue multiple moved from 14.0x to 58.3x.
Miro revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2022 | $300M | $18B | 58.3x | Series C |
| Nov 2018 | $10M | $140M | 14.0x | Series A |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Miro Funding History
Miro has raised a total of $476M across 4 funding rounds.
Miro's first fundraising round was a $1M seed round in March 2017. The most recent completed round was a $400M Series C in January 2022.
Miro funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series C | ICONIQ Capital (lead); Salesforce Ventures; Dragoneer; Andrew Ofstad; Frank Slootman; Daniel Springer; GIC; TCV; Atlassian; Howie Liu; Accel | $400M | $18B | Miro is an online platform for visual collaboration that enables teams to accelerate innovation and enhance productivity across remote and hybrid work environments. The company was founded in 2011 by Andrey Khusid and Oleg Shardin and serves as a digital-first workspace solution for enterprises. By early 2022, Miro had grown to 30 million users and worked with 99% of Fortune 100 companies, establishing itself as a leader in the visual collaboration space. In January 2022, Miro closed a Series C funding round of $400 million at a post-money valuation of $17.5 billion, bringing total funding to $476 million. The round was led by ICONIQ Growth and included investors such as Accel, Atlassian, Dragoneer, GIC, Salesforce Ventures, and TCV, alongside individual investors including Airtable co-founders Howie Liu and Andrew Ofstad, Snowflake CEO Frank Slootman, and DocuSign CEO Dan Springer. Company leadership indicated plans to deploy the capital toward product and technology development, expanding enterprise customer reach, and increasing global footprint, while also exploring M&A opportunities. As a profitable company at the time of the funding, Miro leveraged the favorable venture capital environment and its strong market position to secure resources for scaling operations and building brand strength among enterprise customers. |
| Apr 2020 | Series B | ICONIQ Capital (lead); Bradley Horowitz; Accel | $50M | - | Miro, an online whiteboard platform for team collaboration founded in 2011 as RealtimeBoard and rebranded in 2019, secured $50 million in Series B funding on April 23, 2020, led by ICONIQ Capital with participation from Accel and individual investors including Bradley Horowitz, Olivier Pomel of Datadog, Bob Muglia of Snowflake, and Irene Au. The round brought total funding to approximately $75-76 million. Miro served over 5 million users worldwide and 20,000 paying customers, including 80% of Fortune 100 companies such as Dell, Cisco, Salesforce, PwC, Netflix, Logitech, Spotify, Twitter, and Electronic Arts, with 290 employees across offices in San Francisco, Amsterdam, Austin, Los Angeles, and Perm. The funding aimed to scale global sales and marketing teams and expand the platform with APIs for enterprises and developers to embed Miro whiteboards into business applications, alongside enhancements in product performance, online meeting functions, security, and plugin integrations. CEO Andrey Khusid emphasized the platform's focus on real-time collaboration to enable teams to work as if in the same room regardless of location, which gained relevance amid the shift to remote work during the coronavirus pandemic. Subsequent growth was notable: by the January 2022 Series C ($400M led by ICONIQ Growth), Miro reached 30 million users (500% increase), 130,000 paying customers (550% increase), total funding of $476 million, and a $17.5 billion post-money valuation, positioning it as a leader in visual collaboration for remote and hybrid teams. |
| Nov 2018 | Series A | Accel (lead); AltaIR Capital | $25M | $140M | Miro, originally founded as RealtimeBoard, is a visual collaboration platform providing an online whiteboard for teams to brainstorm, plan, and work together asynchronously and synchronously. The company, founded in 2011 by Andrey Khusid and Oleg Shardin, bootstrapped initially before raising external capital, achieving profitability early without significant marketing spend. On November 8, 2018, Miro raised $25 million in a Series A round led by Accel, with participation from existing investor AltaIR Capital, at a post-money valuation of $140 million. This funding came after a $1.3 million seed round from AltaIR Capital in March 2017. The 2018 round supported product development and growth as remote and hybrid work tools gained traction. Around 2018, Miro generated approximately $10 million in annual revenue, building a foundation for later hypergrowth from $5 million ARR in 2018 to hundreds of millions. Miro's traction accelerated post-2018, reaching 30 million users by 2022, with nearly all Fortune 100 companies as clients and strong enterprise adoption. Subsequent rounds included a $50 million Series B in April 2020 at $725 million valuation led by ICONIQ Growth, and a $400 million Series C in January 2022 led by ICONIQ Growth, catapulting valuation to $17.5 billion with total funding over $476 million from investors like Atlassian, Dragoneer, GIC, and Salesforce Ventures. Investors highlight Miro's market leadership in visual collaboration, viral adoption, and potential to serve over a billion knowledge workers. |
| Mar 2017 | Seed | AltaIR Capital (lead); Andrew Izyumov; Acrobator Ventures | $1M | - | RealtimeBoard, the online whiteboard company later renamed Miro, received a seed investment of US$1.3 million from AltaIR Capital in March 2017. The venture firm backed the product before the company's first institutional growth round. Other small investments came from business angels, according to the Russian business press. The company had been founded in 2011 by Andrey Khusid and Oleg Shardin and grew from a Perm-based team into a visual collaboration platform for distributed teams. The seed money funded product development ahead of the US$25 million Series A led by Accel in November 2018, when the platform counted more than 2 million users and 8,000 paying teams. |
Who has invested in Miro?
15 investors have backed Miro across its funding rounds, including Accel, ICONIQ Capital, AltaIR Capital, Salesforce Ventures, GIC and TCV.
Lead investors include ICONIQ Capital, Accel and AltaIR Capital.
Miro Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Palo Alto, CA | 3 | Lead | Nov 2018 | |
| San Francisco, CA | 2 | Lead | Apr 2020 | |
| San Francisco, CA | 2 | Lead | Mar 2017 | |
| San Francisco, CA | 1 | Participant | Jan 2022 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Andrew Izyumov |  Cyprus | 1 | Participant | Mar 2017 |
| San Francisco, CA | 1 | Participant | Jan 2022 | |
| Andrew Ofstad | San Francisco, CA | 1 | Participant | Jan 2022 |
| Frank Slootman | San Jose, CA | 1 | Participant | Jan 2022 |
| Daniel Springer | San Francisco, CA | 1 | Participant | Jan 2022 |
| Bradley Horowitz | San Francisco, CA | 1 | Participant | Apr 2020 |
 Singapore | 1 | Participant | Jan 2022 | |
 Amsterdam | 1 | Participant | Mar 2017 | |
| San Francisco, CA | 1 | Participant | Jan 2022 | |
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Start Free TrialAcquisitions by Miro
Miro has acquired 6 companies to date.
Last acquisition by Miro was on March 23rd 2026. Miro acquired Reforge for undisclosed valuation.
Latest Acquisitions by Miro
| InVision (Freehand unit) | |||||
| Description | Reforge offers professional development programs for growth-stage leaders. San Francisco-headquartered Reforge delivers online courses in product management, growth marketing, and sales taught by executives from Airbnb, DoorDash, and Stripe. The platform serves over 1,000 companies with cohort-based learning cohorts. | Uizard is a Copenhagen-headquartered AI design platform launched in 2018. Designers use its drag-and-drop interface to create prototypes for web and mobile apps from text prompts, hand-drawn sketches, or screenshots. The tool generates editable wireframes, applies UI themes, and predicts heatmaps for user experience optimization. Uizard provides pre-built templates and components for collaborative teams, serving startups and enterprises in product design workflows. | Cardinal is a SaaS platform serving as the system of record for product development teams to align features with data-backed objectives. Hosted at cardinalapp.io, it tracks product roadmaps, user analytics, and goal fulfillment using integrations with tools like Jira, Amplitude, and Mixpanel. The San Francisco-headquartered company, launched in 2022, supports enterprises in tech and fintech by providing dashboards for experiment tracking and A/B test results. Cardinal processes data from over 200 teams, enabling decisions based on metrics like retention rates and feature adoption. | InVision (Freehand unit) is the Freehand visual collaboration product line of InVision, a digital whiteboard and brainstorming application that let teams sketch, comment and plan together in real time. It was built as an extension of InVision's design collaboration platform and sold as a standalone subscription product for distributed teams. The unit served design, product and engineering teams at business customers and ran alongside InVision's prototyping tools until it was carved out and sold in 2023. Its core team and technology moved to the acquirer, and Freehand's former chief product officer became chief executive of InVision before joining the acquirer. The product line operated from New York and was staffed by InVision's product and engineering employees. It earned revenue through team and enterprise subscriptions. | |
| HQ Country | |  | | | |
| HQ City | San Francisco, CA | Copenhagen | Austin, TX | New York City | |
| Deal Date | 23 Mar 2026 | 27 May 2024 | 24 May 2024 | 6 Nov 2023 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Miro Competitors
Miro competitors include listed companies like Bandwidth and Weaver Network, and private ones like GupShup, Symphony Communication Services, Intercom and Teamworks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | $150M | - | $1.4B | - | |
| New York City, NY | Private | - | - | $1.4B | - | |
| United States | Publicly listed | $754M | $39M | $1.3B | 1.9x | |
| San Francisco, CA | Private | - | - | $1.3B | - | |
| Durham, NC | Private | - | - | $1.5B | - | |
 China | Publicly listed | $343M | $44M | $1.6B | 4.0x |
Miro Public Comps
Miro is no longer listed, but its public comps include Bandwidth, Weaver Network, Tanla Platforms, Montnets, Teamviewer, Cybozu, Calix, Consensus Cloud, Pexip and Truecaller.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $754M | $39M | 2.2x | 1.9x | 42.4x | 13.8x | |||
| $343M | $44M | 4.3x | 4.0x | 33.8x | 26.7x | |||
| $469M | $77M | 1.6x | 1.5x | 9.8x | 8.9x | |||
| $392M | ($17M) | 2.5x | - | (57.1x) | - | |||
| $837M | $302M | 2.2x | 2.2x | 6.2x | 5.2x | |||
| $237M | $82M | 3.3x | 3.0x | 9.6x | 8.8x | |||
| $1B | $38M | 1.8x | 1.5x | 45.6x | 11.1x | |||
| $350M | $166M | 3.5x | 3.4x | 7.4x | 6.4x | |||
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Common questions about Miro
| When was Miro founded? | Miro was founded in 2011. |
| Where is Miro headquartered? | Miro is headquartered in San Francisco, CA, United States. |
| Is Miro publicly listed? | No, Miro was acquired by Bending Spoons in September 2026. |
| Who acquired Miro? | Miro was acquired by Bending Spoons in September 2026. |
| How much was Miro acquired for? | Miro was acquired for $1.4B in September 2026, a 2.3x revenue multiple. |
| What is Miro's valuation? | Miro was last valued at $18B in its Series C in January 2022. |
| How much funding has Miro raised? | Miro has raised $476M across 4 funding rounds. |
| What was Miro's last funding round? | Miro's last funding round was a $400M Series C in January 2022, led by ICONIQ Capital. |
| Who are Miro's investors? | Miro's investors include Accel, ICONIQ Capital, AltaIR Capital, Salesforce Ventures, Andrew Izyumov, Dragoneer, Andrew Ofstad, Frank Slootman, Daniel Springer, Bradley Horowitz and 5 others. |
| What is Miro's revenue? | Miro's latest recorded revenue is $300M (January 2022). |
| What is Miro's revenue multiple? | Miro's latest valuation implies a 58.3x revenue multiple ($18B valuation on $300M of revenue). |
| Which companies are comparable to Miro? | Companies comparable to Miro include GupShup, Symphony Communication Services, Bandwidth, Intercom, Teamworks and Weaver Network. |
| How many companies has Miro acquired? | Miro has acquired 6 companies, including Reforge, Uizard, Cardinal, InVision (Freehand unit) and Around. |
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