Monday.com CEO: AI Agents Will 100x Software Market
Monday.com CEO Eran Zinman argued on the 20VC podcast that SaaS isn't dead, despite his company's stock being hit hard. He predicts the total addressable market for software will grow 100x as AI agents automate work, increasing the need for robust platforms that can orchestrate complex tasks, not just provide raw data.
Despite recent stock volatility, including a sharp drop after its fiscal 2026 revenue guidance fell below analyst expectations, Monday.com's financial foundation remains solid. The company surpassed $1 billion in annual recurring revenue and reported 33% year-over-year revenue growth in the third quarter of 2024, maintaining a high gross margin of 90%. The company is channeling its resources into a significant AI push, centered around its AI assistant, now named "Sidekick." This platform is being opened up to third-party developers to build and sell their own AI applications on the Monday.com marketplace, a move intended to crowdsource innovation. Monday.com's longer-term vision is a "Digital Workforce" of specialized AI agents. The first agent, "Monday Expert," was slated for a March 2025 launch to assist with user onboarding, with other agents planned to handle tasks like project analysis, resource management, and CRM data automation. The move toward AI-driven workflow is not unique to Monday.com. Competitors like ClickUp have introduced "ClickUp Brain" for summarizing content, and Airtable is recognized for its AI-powered project portfolio management, indicating a broader industry race to automate complex work. This trend aligns with predictions from industry analysts. Gartner forecasts that by 2028, at least 15% of daily work decisions will be made autonomously by agentic AI, a significant increase from 0% today. Gartner also predicts a massive market shakeup, with the GenAI landscape expected to consolidate by 75% by 2029 as major SaaS platforms absorb smaller vendors. This suggests a future where a few dominant platforms, which Monday.com aims to be, orchestrate a wide array of AI-automated services rather than just providing software tools.
