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- Mural
Mural Revenue, Valuation, Funding & Investors
Mural is valued at $2B as of July 2021, a 16.0x multiple on its last reported $125M revenue.
Last Mural valuation
$2B
Series C · Jul 2021
Last Mural funding round
$50M
Series C · Jul 2021
Mural revenue
$125M
Series C · Jul 2021
Key investors in Mural
Gradient
Tiger Global
Insight Partners
NXTP Ventures
Alta Ventures Mexico
Bossa Invest
About Mural
Mural is a San Francisco-headquartered visual collaboration platform used by over 50,000 organizations for remote brainstorming and workshops. The tool offers infinite canvases, templates for agile planning, and integrations with Slack, Microsoft Teams, and Jira, supporting teams at Nike, Atlassian, and Deloitte in strategy sessions.
Founded
2011
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$125M (Jul 2021)
Valuation
$2B (Jul 2021)
Mural Valuation
Mural is currently valued at $2B, based on its Series C in July 2021.
The $50M round was led by Insight Partners and Tiger Global, with participation from Gradient.
Mural's valuation has grown 4.0x from $500M at its Series B in August 2020 to $2B in July 2021, across 2 priced rounds.
Mural valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2021 | Series C | $2B | 16.0x |
| Aug 2020 | Series B | $500M | 4.0x |
Mural Revenue
Mural's latest recorded revenue is $125M, as of its Series C in July 2021. At a $2B valuation, that implies a 16.0x revenue multiple.
Revenue moved from $125M in August 2020 to $125M in July 2021, while the revenue multiple moved from 4.0x to 16.0x.
Mural revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2021 | $125M | $2B | 16.0x | Series C |
| Aug 2020 | $125M | $500M | 4.0x | Series B |
* 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.
Mural Funding History
Mural has raised a total of $193M across 5 funding rounds.
Mural's first fundraising round was a $500K seed round in October 2015. The most recent completed round was a $50M Series C in July 2021.
Mural funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2021 | Series C | Insight Partners (lead); Tiger Global (lead); Gradient | $50M | $2B | Mural is a visual collaboration platform providing digital workspaces for remote teams to brainstorm, plan, and facilitate workshops, akin to an online whiteboard, with a focus on enterprise guided visual collaboration. Founded in 2011 and headquartered in San Francisco, it gained significant traction during the COVID-19 pandemic as remote work surged, enabling hybrid and distributed teams to ideate and create together. The company serves over 75% of the Fortune 100 (up from 40% in 2019), more than 100 customers paying over $100K annually (tripled year over year), seven customers over $1M ARR, over 2,300 nonprofits, and 4,000+ higher education institutions. On July 20, 2021, Mural closed a $50 million Series C funding round co-led by Insight Partners and Tiger Global, with participation from individual backers like Bill Veghte and Ryan Smith, bringing total funding to approximately $200 million. The round valued the company at over $2 billion post-money, up from $500 million in its August 2020 Series B ($118M raised). This unicorn status reflected explosive growth, including tripling ARR year over year for the second consecutive year, following similar growth in 2020. Funds were earmarked to expand platform development, support hybrid workforces, and integrate with other software. Competition in digital collaboration tools intensified as hybrid work normalized, but Mural positioned strongly with its visual focus and customer base. |
| Aug 2020 | Series B | Insight Partners (lead); World Innovation Lab; Slack Fund; Tiger Global; Ryan Smith; Gradient; Allison Pickens Ventures; Bill Veghte | $118M | $500M | MURAL is a digital workspace platform specializing in visual collaboration tools for enterprises, enabling teams to ideate, brainstorm, and work together remotely through guided visual interfaces. The company gained significant traction during the shift to remote work in 2020, adding over a million monthly active users in the first half of the year and experiencing rapid growth in enterprise adoption. On August 25, 2020, MURAL closed a $118 million Series B funding round led by Insight Partners, with participation from Tiger Global, Slack Fund, World Innovation Lab, Gradient Ventures, and individual investors including Ryan Smith (Qualtrics CEO), Bill Veghte (former HP COO), and Allison Pickens (former Gainsight COO). The round valued the company at around $500 million post-money, as reported in subsequent coverage of later financings. Proceeds were earmarked to expand adoption across new enterprise teams and use cases, grow go-to-market operations globally, develop enterprise-ready features, and enhance community initiatives for facilitators and design thinkers. MURAL had previously raised a $23 million Series A in early 2020. The company did not disclose specific ARR figures at the Series B time, only noting it had reached millions in ARR and tripled since the pandemic's onset, with strong expansion in Fortune 500 accounts and new customer onboarding. Insight Partners highlighted MURAL's transition from startup to scale-up, evidenced by revenue growth through existing customer expansion and high-velocity partner acquisition. The Series B positioned MURAL for accelerated market penetration in visual collaboration amid hybrid work trends. In July 2021, MURAL raised a $50 million Series C co-led by Insight Partners and Tiger Global at over $2 billion valuation, after tripling ARR year-over-year again, reaching material scale with over 100 customers contributing more than $100,000 annually (3x YoY growth) and seven at over $1 million. |
| Jan 2020 | Series A | Gradient (lead); Radian Capital (lead); Endeavor Catalyst; Bossa Invest | $23M | - | Mural is an enterprise collaboration software company founded in 2011 that provides a cloud-based digital workspace platform for visual collaboration, idea capture, live voting, and decision-making. The company raised $23 million in Series A funding in January 2020 from lead investors Gradient Ventures (Google's venture arm), Radian Capital, and Endeavor Catalyst. The Series A valuation was not publicly disclosed at the time of announcement. By August 2020, Mural had raised a $118 million Series B at a $500 million valuation, followed by a $50 million Series C in July 2021 that valued the company at over $2 billion. Financial metrics became public only later: by the time of the Series C announcement in July 2021, Mural had tripled its annual recurring revenue year-over-year, enabled over 100 customers contributing more than $100,000 in annual revenue each, and served seven customers each contributing over $1 million annually. The company expanded to cover over 75 percent of the Fortune 100 and more than 2,300 nonprofits globally. |
| Jul 2016 | Seed | NXTP Ventures; Collaborative Fund; Alta Ventures Mexico; Intel Capital | $1M | - | - |
| Oct 2015 | Seed | Alta Ventures Mexico (lead); NXTP Ventures | $500K | - | - |
Who has invested in Mural?
15 investors have backed Mural across its funding rounds, including Gradient, Tiger Global, Insight Partners, NXTP Ventures, Alta Ventures Mexico and Bossa Invest.
Lead investors include Insight Partners, Tiger Global, Gradient, Radian Capital and Alta Ventures Mexico.
Mural Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jan 2020 | ||
| 2 | Participant | Oct 2015 | ||
| 2 | Lead | Aug 2020 | ||
| 2 | Lead | Oct 2015 | ||
| 2 | Lead | Aug 2020 | ||
| 1 | Participant | Aug 2020 | ||
| 1 | Participant | Aug 2020 | ||
| 1 | Participant | Jan 2020 | ||
| 1 | Participant | Jul 2016 | ||
| 1 | Participant | Aug 2020 | ||
| 1 | Participant | Aug 2020 | ||
| 1 | Lead | Jan 2020 | ||
| 1 | Participant | Jul 2016 | ||
This data is available for Pro users. Sign up to see all 15 Mural investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Mural
Mural has acquired 1 company to date.
Last acquisition by Mural was on March 28th 2022. Mural acquired LUMA Institute for undisclosed valuation.
Latest Acquisitions by Mural
| Description | LUMA Institute is a Pittsburgh-based organization delivering human-centered design training through workshops, certifications, and digital toolkits. Established in 2005, it serves Fortune 500 companies with methodologies for collaborative innovation in product development and service design. |
| HQ Country | |
| HQ City | Pittsburgh, PA |
| Deal Date | 28 Mar 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Mural acquisitions and their M&A valuation multiples. Start Free Trial | |
Mural Competitors
Mural competitors include listed companies like Calix and Asana, and private ones like Podium, Intercom, Teamworks and Unqork.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $100M | - | $3B | 30.0x | ||
| Private | $400M | - | $1.3B | 3.2x | ||
| Private | - | - | $1.2B | - | ||
| Private | $133M | - | $2B | 15.0x | ||
| Publicly listed | $1B | $38M | $2.2B | 1.8x | ||
| Publicly listed | $791M | ($175M) | $2.3B | 2.7x |
Mural Public Comps
Mural is still privately-owned, but its public comps include Calix, Asana, Weaver Network, Bandwidth, Five9, SoundHound, Intapp, Teamviewer, AvePoint and Montnets.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1B | $38M | 2.0x | 1.8x | 52.9x | 13.6x | |||
| $791M | ($175M) | 2.8x | 2.7x | (12.8x) | 22.8x | |||
| $341M | $43M | 4.4x | 4.2x | 34.6x | 28.3x | |||
| $754M | $39M | 2.7x | 2.3x | 51.2x | 17.3x | |||
| $1.1B | $91M | 2.4x | 2.2x | 30.1x | 9.1x | |||
| $169M | $19M | 14.6x | 11.3x | 132.5x | (35.5x) | |||
| $578M | ($16M) | 4.6x | 4.5x | (164.3x) | 20.9x | |||
| $860M | $310M | 2.5x | 2.5x | 7.0x | 5.9x | |||
This data is available for Pro users. Sign up to see all Mural competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Mural
| When was Mural founded? | Mural was founded in 2011. |
| Where is Mural headquartered? | Mural is headquartered in San Francisco, CA, United States. |
| Is Mural publicly listed? | No, Mural is a private, VC-backed company. |
| What is Mural's valuation? | Mural was last valued at $2B in its Series C in July 2021. |
| How much funding has Mural raised? | Mural has raised $193M across 5 funding rounds. |
| What was Mural's last funding round? | Mural's last funding round was a $50M Series C in July 2021, led by Insight Partners and Tiger Global. |
| Who are Mural's investors? | Mural's investors include Gradient, NXTP Ventures, Tiger Global, Alta Ventures Mexico, Insight Partners, World Innovation Lab, Slack Fund, Endeavor Catalyst, Collaborative Fund, Ryan Smith and 5 others. |
| What is Mural's revenue? | Mural's latest recorded revenue is $125M (July 2021). |
| What is Mural's revenue multiple? | Mural's latest valuation implies a 16.0x revenue multiple ($2B valuation on $125M of revenue). |
| Which companies are comparable to Mural? | Companies comparable to Mural include Podium, Intercom, Teamworks, Unqork, Calix and Asana. |
| How many companies has Mural acquired? | Mural has acquired 1 company, including LUMA Institute. |
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