Introduction

Monday.com and Asana started in the same SaaS race-but only one pulled way ahead. Here’s how Monday beat Asana by $473M.

What's the problem it solves?

The article explains why some B2B SaaS companies stall while others keep growing fast. It compares two companies with similar products but very different outcomes, showing what execution moves really drive growth.

Quick Summary

Monday.com and Asana both launched as leaders in work management software. But while Asana took a steady, cautious growth path, Monday.com exploded with aggressive land-and-expand tactics, product expansion, and an enterprise sales push. As a result, Monday.com hit $972M in 2024 revenue (vs. Asana’s $653M), and is growing over 3x faster.

The key shift came in 2018 when Monday tripled revenue in one year, marking the start of a winning playbook: scale fast, expand into CRM and development, and win big enterprise accounts. In contrast, Asana focused more on AI innovation and product refinement, but struggled to turn those ideas into major revenue. Their growth has now slowed to single digits.

While both companies have loyal users, Monday.com’s ability to grow revenue, boost profitability, and win large accounts has made it the clear category leader. The lesson? Execution, expansion, and enterprise strategy beat product vision alone.

Key Takeaways

• Monday.com hit $972M in 2024 revenue, vs. Asana’s $653M
• In Q1 2025, Monday.com grew 30% YoY; Asana only 9%
• Monday uses a land-and-expand model with 112% net dollar retention
• Monday launched multiple products (CRM, dev, service) to widen wallet share
• Enterprise deals are key: Monday’s $100K+ customer base grew 46%; Asana’s only 20%
• Monday is profitable (14% non-GAAP margin); Asana just turned a small profit
• Monday is now worth 4.4x more than Asana

What to do

• Adopt land-and-expand early: Focus on growing existing accounts, not just new logos
• Build for enterprise: Create use cases and roles for larger companies, and build a sales org to match
• Go multi-product: Expand into adjacent solutions to grow revenue per customer
• Balance vision with execution: Don’t just innovate-turn innovation into repeatable revenue
• Track expansion metrics: Monitor net dollar retention and $100K+ customer growth
• Prioritize profitability: Growth is great, but profitable growth wins in the long run

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