By Sophia Kunthara,

Project management company Monday.com saw its stock close at $178.87 on Thursday, 15 percent above its initial public offering price.

The Tel Aviv-based company, which was founded in 2012, priced its shares at $155 apiece on Wednesday night, above the range of $125 to $140 it had set. Monday.com raised about $574 million through its IPO, and its stock opened at $171.52 on Thursday.

Monday.com reported $161 million in revenue in 2020, more than double the $78 million in revenue it generated in 2019, per its F-1 filing. The company’s losses also spiked in that time period, going from $91.6 million in 2019 to $152.2 million in 2020. Monday.com has more than 127,000 total customers, including...