WillItSurvive
Enterprise and productivity software · United States

MURAL

mural.co ↗

MURAL sells a digital whiteboard for remote team workshops and brainstorming.

Losing its protection
Assessed 22 July 2026 · Evidence as of 22 July 2026
The structural protection is eroding.
On the recordSince 22 July 2026 · Checkable from Q1-Q2 2027 · Every call on the record Checkpoint: MCP Server and Mural Compose multi-agent rollout completes, and Series D or sale news lands
The call

MURAL grew fast selling a whiteboard, and now faces free AI features inside Teams and general chatbots doing its core job for less.

Mural makes software that teams use to brainstorm and organize ideas together online, like a shared whiteboard. It is getting harder to keep customers because Microsoft is giving away a similar whiteboard tool for free inside Teams, which many companies already pay for, and because ChatGPT and other AI can now do the jobs Mural was known for, like organizing sticky notes and writing summaries, without extra software. The company lost half its Fortune 100 customers since 2021, has not raised new funding in five years, and is smaller than its competitor Miro. Whether Mural can rebuild itself by becoming the go-to canvas that AI assistants work on in offices will determine if it survives or keeps shrinking.

Why
01
AI pressure: ChatGPT, Claude, and Microsoft Copilot. General AI now clusters sticky notes, writes personas, and summarizes workshops, the exact tasks MURAL charges for. Could AI do the core job? Yes, likely.
02
Bigger players: Microsoft Whiteboard bundled into Teams and 365 with Copilot. Free, bundled Whiteboard ships inside tools companies already pay for, and Miro's mindshare has passed MURAL's by a wide margin. Could a giant copy it? Yes, easily.
03
What protects it. LUMA facilitation methodology and existing Fortune 100 contracts give some switching cost, but it is thinning fast.
What would change this call
Mural announces a Series D or strategic sale by mid-2027. Would show investors still see growth potential after 5 years without new funding.
MCP Server and Mural Compose ship broadly and enterprises adopt them by Q2 2027. Would show Mural can defend against AI commoditization rather than just announce plans.
Miro vs Mural mindshare gap on PeerSpot narrows or widens over the next 12 months. Would show whether Mural is stabilizing or continuing to lose competitive position.
Key numbers
  • ARR estimated $125M-$189M (2024-2025)
  • Fortune 100 penetration fell 80% to 50% (2021-2025)
  • Miro mindshare 39.5% vs MURAL 2.4% (2025)
Named risks
  • No funding round since 2021 despite headcount decline and slowing growth. Severity: high
  • Mindshare collapse from 6.5% to 2.4% YoY against surging Miro. Severity: high
  • Core facilitation/synthesis value commoditized by general-purpose AI assistants. Severity: high
  • Three CEOs since December 2022 signal leadership instability. Severity: medium
  • Quiet attrition-driven headcount decline of ~14% without formal layoff announcement. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
Mirolosing toPeerSpot mindshare: Miro 27.5%->39.5%, Mural 6.5%->2.4% YoY as of 2026-04-26
Microsoft (Whiteboard/Teams/Copilot)losing toCopilot-driven whiteboarding bundled free into Teams/365, reducing incentive to pay separately, per Sacra analysis
Figma/FigJamcontestingCompetes for design-adjacent whiteboard use cases within Figma-centric teams, per 2026 vendor comparisons
Questions people ask
Is Mural profitable in 2026?
No public profitability data exists since Mural is private. Third-party estimates peg 2024 revenue between $125M (Sacra) and $189M (Latka), with growth slowing to about 9% YoY, but no profit figures have been disclosed as of November 2025.
Could AI replace Mural's core product?
Largely yes for its core value. General AI assistants like ChatGPT, Claude, and Copilot can already cluster sticky notes, summarize workshops, and generate personas natively, and Microsoft bundles Copilot-driven whiteboarding free inside Teams/365, eroding Mural's paid differentiation as of 2026.
Who is Mural's biggest competitor?
Miro. Independent review site PeerSpot showed Miro's mindshare rising from 27.5% to 39.5% year over year while Mural's fell from 6.5% to 2.4%, ranking Mural sixth in Visual Collaboration Platforms as of April 2026.
Who owns Mural?
Mural is privately held, legal entity Tactivos Inc., backed by Insight Partners, Tiger Global, Slack Fund, and World Innovation Lab. It last raised a $50M Series C at a $2 billion valuation in July 2021 and has had no funding round since.
Has Mural raised a Series D?
No. As of November 2025, Mural's last funding round remains the $50M Series C from July 2021 at a $2 billion valuation, with total funding around $192 to 193 million across five rounds and no Series D reported.
What is Mural doing about AI competition?
Mural hired a CPO in February 2025 and a CTO in September 2025 explicitly to drive AI strategy, and unveiled an MCP Server in July 2026 for Claude, ChatGPT, Copilot, and Cursor integration, though it remains in phased 'coming soon' rollout.
Timeline
  • 2026-07-17Mural unveils MCP Server for AI agent integration, still in phased 'coming soon' rollout
  • 2025-09-09Omar Ayub appointed CTO to accelerate AI vision
  • 2025-03-30Mural's AI literacy practices added to EU AI Pact living repository
  • 2025-02-24Elaina O'Mahoney appointed CPO to double down on AI
  • 2025-01Jira Data Center two-way sync integration launched
  • 2024-07-16Leigh-Margaret Stull becomes CEO, third CEO since 2022
  • 2022-12-14David Baga named CEO, succeeding founder Mariano Suarez-Battan
  • 2022-03-28Mural acquires LUMA Institute
  • 2021-07Series C: $50M at $2 billion valuation
  • 2020-08-25Series B: $118M led by Insight Partners
Revision history
22 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
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