Workplace productivity startup Monday.com is adding low code/no code tools to its platform as part of a big update to its software.

Adding no code/low code tools is part of the company's larger strategy to became a central hub where employees can access all their external software and build whatever tools they need to get work done.

By adding tools to help non developers make apps and software, Monday.com is entering a huge market that's expected to worth $52 billion by 2024.

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Productivity software startup Monday.com is trying to become the one-stop shop for workers at their jobs and it is making a big bet on the so-called low-code/no-code market to do so.

As part of an update to its service announced on Tuesday, it is now launching new tools that can help users build apps and automate common work tasks — without necessarily knowing how to code.

Monday.com is a newly minted unicorn, valued at $1.9 billion after itd latest Series D funding round of $150 million in July and it now has 100,000 customers. With this new announcement, it's breaking into a fast-growing market for tools to help companies build the software they need, without needing to recruit a hard-to-find, pricey programmer.

The no-code/low-code market is expected to be worth $52 billion by 2024, with tech titans like Microsoft and Google competing with startups like Zapier and Airtable to capitalize on the opportunity. Now, Monday.com is getting in on it, as well.

Monday.com CTO and cofounder Eran Zinman said this is part of the company's overall strategy to be a "work operating system" that helps employees manage their workday. It already helps managers track what employees are working; now it wants to let users add more capability to help it manage more specific types of project, whether that's hotel management, or running an R&D lab.

"We expect that this year the market will understand this is a whole new category, and this is kind of like a culmination of all our work up until now," Roy Mann, Monday.com CEO and cofounder, told Business Insider. He said that giving people the ability to build whatever they need on top of the platform it already offered was the ultimate goal. "It's essentially a new way to look at software," he said.

Workplace operating system

As part of its product update, Monday.com can now integrate with about 50 outside applications like email, spreadsheets, Salesforce, Jira, Hubspot, Zendesk and can bring that information into the platform. It also now has a code-free automation builder and premade templates to use with it, so managers can build tools to help with repetitive tasks, right inside Monday.com.

Zinman said that adding these low code/no code tools were a crucial piece of building the type of all-encompassing software the company was aiming to create. The theory is that allowing people to build tools and automations on top of the Monday.com platform lets people customize it for their own needs.

To that end, developers can now build apps on Monday.com as well, and the goal is to eventually have a marketplace where those apps can be offered to other users. For example, a user could build an app to manage hotel bookings and then publish that app on Monday.com's marketplace for other users to download and use.

"What Monday.com basically does, is enable companies of different sizes to manage every aspect of their business using our platform...its a combination of a platform [and] offering low code capabilities," Zinman told Business Insider.

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Source: Business Insider

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