Key Takeaways

• As of December 21, 2022, a total of 185 partners are listed on the ‘find a partner’ page.
• According to Channel Futures, in 2018, Monday.com's partner channel generated $2 million in annual recurring revenue (ARR).
• Monday.com claims its partner network comprises channel partners, emerging startups, leading enterprise software companies, and global systems integrators.

Introduction

Monday.com's Partner Network Growth

• MarTech Series reported in September 2020 that Monday.com had partnered with more than 85 channel partners in more than 45 countries globally. Some of those partners include Simplifica in Mexico and JT’s Cloud in Australia.
• Monday.com’s ‘Find a Partner’ page has been saved 41 times between March 2021 and November 2022 by the Wayback Machine. No saves were recorded for the previous years, i.e., 2017 through 2020.
• On March 5, 2021, the Monday.com partner network had 103 partners listed on that page. 36 from Europe and the Middle East, five from Africa, 25 from Asia-Pacific, 22 from North America, and 15 from Latin America.
• On December 1, 2021, the network had grown to 156 partners, including 57 from Europe and the Middle East, eight from Africa, 28 from Asia, 34 from North America, 22 from Latin America, and 7 from Australia and New Zealand.
• As of December 21, 2022, 185 partners are listed on the ‘find a partner’ page. 73 are from Europe and the Middle East, 11 from Africa, 23 from Asia, 35 from North America, 29 from Latin America, and 14 from Australia and New Zealand.
• However, an analysis by Partnerbase claims that the Monday.com ecosystem comprises about 212 partners, of which 186 are technology partners, and 26 are channel partners. Its largest partners include Google, HubSpot, and Salesforce.
• According to the company's 2021 FORM 20-F, it has recruited more than 149 channel partners in 48 countries since the inception of the partner program. As of February 2022, Monday.com's CFO claimed that the company had over 150 channel partners.

Annual Revenue Generated from the Partner Program

• Extensive searches through the public domain did not find a detailed overview of Monday.com's revenue generated from the partner program in 2017, 2021, and 2022. Instead, we found revenue figures for 2018 through 2020.
• According to Channel Futures, in 2018, Monday.com's partner channel generated $2 million in annual recurring revenue (ARR).
• In 2019, the partner network's annual recurring revenue increased to $6.5 million.
• Analysts predicted that the partner network was on record to reach $19 million by the end of 2020. These figures were provided by Hadass Guy, Monday.com’s partner enablement manager.
• The image below shows Monday.com's cumulative historical revenues from its inception to 2019.
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  Source
   
• Extensive searches did not find data around Monday.com channel partner program revenues for 2021 and 2022. However, as of November 2020, research findings indicate that Monday.com had built a $30 million channel partner network.
• Monday.com also leverages PartnerStack, which has helped it grow partner program sales by 200% year-over-year (YoY).

Composition of Monday.com's Partner Network

Customer Profile

• Most of Monday.com's partner network customers are in Europe & Middle East (73) and North America (35).
•  Latin America and Asia have a fair share of 29 and 23 partners, respectively.
•  Australia and New Zealand have 14 partners, while Africa has 11 partners.

Ethnicity/Race

• Based on the geographic distribution of Monday.com partners, we can assume that most of its partners come from Europe, Arab nations, and the Americas.
• Therefore, Europeans, Arabs, and Americans comprise most of Monday.com's partner customers.
•  Asians also make a fair share of that composition.
• The least represented race in that ecosystem is Africans and Oceania people, i.e., people from New Zealand and Australia.

Customer Type

• Monday.com claims its partner network comprises channel partners, emerging startups, leading enterprise software companies, and global systems integrators.
• The filters and tools on Partnerbase.com show that Monday.com's partner network consists of about 60 customers with more than 250 employees, which classifies them as large companies.
• Therefore, most of Monday.com's partners are small and mid-market customers because they are the majority in its list of partners.
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  Source
   
• As shown in the image above, 26% of Monday.com customers can be classified as enterprise clients, while customers with 10+ users comprise 76% of the company's annual recurring revenues.

Research Strategy