SWOT
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Miro

To empower teams to create the next big thing by becoming the leading visual collaboration platform for distributed work



Our SWOT AI Analysis

5/20/25

The SWOT analysis reveals Miro stands at a pivotal juncture in the visual collaboration market. With an established leadership position and impressive user base of 35M+, Miro has successfully captured the core collaboration market. However, increasing competition from well-funded rivals and productivity suite consolidation threatens this position. The key to sustained growth lies in four strategic imperatives: leveraging AI to transform the platform, deepening enterprise penetration, developing industry-specific solutions for high-value verticals, and evolving from product to platform through a robust developer ecosystem. Executing these priorities will enable Miro to maintain its competitive edge while expanding its total addressable market beyond traditional visual collaboration use cases.

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Align the strategy

Miro SWOT Analysis

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To empower teams to create the next big thing by becoming the leading visual collaboration platform for distributed work

Strengths

  • ADOPTION: Market-leading platform with 35M+ users and presence in 99% of Fortune 100 companies, driving strong network effects and referral growth
  • INTEGRATIONS: Robust ecosystem of 100+ integrations with tools like Zoom, Slack, and Microsoft Teams creating strong platform stickiness
  • PRODUCT: Intuitive, feature-rich platform with infinite canvas capabilities that supports diverse use cases across design, product, engineering
  • FLEXIBILITY: Highly adaptable product supporting multiple collaboration styles (async/sync) and use cases from brainstorming to agile workflows
  • MARKET: First-mover advantage in visual collaboration category with strong brand recognition and proven enterprise adoption track record

Weaknesses

  • COMPETITION: Increasing competitive pressure from well-funded rivals like Figma (acquired by Adobe) and MURAL in the visual collab space
  • PRICING: Higher price point compared to some alternatives and bundled offerings from Microsoft, creating price sensitivity in SMB segment
  • COMPLEXITY: Feature richness can create steep learning curve for new users, potentially slowing adoption in less tech-savvy organizations
  • DIFFERENTIATION: Challenging to maintain unique value proposition as competitors rapidly duplicate core platform capabilities and features
  • RETENTION: Maintaining engagement beyond initial adoption requires cultural change management that extends beyond product capabilities

Opportunities

  • AI INTEGRATION: Embedding generative AI capabilities for intelligent diagramming, content summarization, and workflow automation
  • ENTERPRISE EXPANSION: Deeper penetration into enterprise accounts with department-wide and company-wide licensing agreements
  • VERTICAL SOLUTIONS: Developing industry-specific templates and workflows for healthcare, finance, education and government sectors
  • DEVELOPER ECOSYSTEM: Creating a robust app marketplace allowing third-party developers to extend platform functionality and use cases
  • EDUCATION: Growing adoption in educational institutions to build brand loyalty with future workforce and drive long-term user acquisition

Threats

  • PLATFORM CONSOLIDATION: Microsoft, Google and other major players integrating visual collaboration into their productivity suites
  • MARKET SATURATION: Maturing collaboration market with increasing competition from both specialized tools and broad productivity platforms
  • ECONOMIC UNCERTAINTY: Budget constraints during economic downturns causing enterprises to reduce SaaS spend and consolidate vendors
  • INNOVATION PACE: Rapid feature copying by competitors requiring constant innovation to maintain differentiation and justify premium pricing
  • SECURITY CONCERNS: Increasing regulatory requirements and cybersecurity risks that could slow enterprise adoption if not properly addressed

Key Priorities

  • AI TRANSFORMATION: Aggressively integrate generative AI capabilities to maintain product differentiation while automating repetitive tasks
  • ENTERPRISE EXPANSION: Focus on penetrating existing enterprise accounts more deeply with department-wide and company-wide agreements
  • VERTICAL SPECIALIZATION: Develop industry-specific templates, workflows and compliance features for key regulated verticals
  • PLATFORM ECOSYSTEM: Evolve from product to platform by expanding developer APIs and marketplace to create a true collaboration ecosystem
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Align the plan

Miro OKR Plan

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To empower teams to create the next big thing by becoming the leading visual collaboration platform for distributed work

AI TRANSFORMATION

Harness AI to revolutionize visual collaboration

  • GENERATION: Launch AI-powered diagram generator that converts text to visuals with 80% user satisfaction across 5,000+ customers
  • ORGANIZATION: Deploy intelligent content organization feature that automatically structures and categorizes elements on 50,000+ boards
  • ADOPTION: Achieve 40% monthly active usage of AI features across enterprise customers with 25% reporting productivity improvements
  • INTEGRATION: Establish 5 partnerships with leading AI platforms to enhance Miro's capabilities and extend our AI-powered feature set
ENTERPRISE DOMINANCE

Deepen penetration in Fortune 500 accounts

  • EXPANSION: Increase average ARR per Fortune 500 customer by 35% through cross-departmental expansion and enterprise-wide agreements
  • ACTIVATION: Drive 75% of enterprise accounts to multi-department usage with at least 3 distinct departments actively using Miro
  • CHAMPIONS: Identify and empower 500 new customer champions within enterprise accounts achieving 90%+ satisfaction and advocacy scores
  • RETENTION: Improve enterprise net dollar retention to 140% by reducing churn and driving expansion through strategic success management
VERTICAL MASTERY

Create tailored solutions for key industries

  • HEALTHCARE: Launch healthcare-specific solution with HIPAA compliance and 5 specialized templates, acquiring 150 new customers
  • FINANCIAL: Develop financial services package with SOX-compliant features and secure workflows, generating $5M in new ARR
  • EDUCATION: Create education-focused offering with LMS integration and classroom templates, reaching 2,000 new institutions
  • COMPLIANCE: Achieve industry-specific certifications (HIPAA, SOC2, ISO27001) for all vertical solutions to reduce sales friction
  • TEMPLATES: Build 50 industry-specific templates with 70% adoption rate among targeted customers in each vertical
PLATFORM ECOSYSTEM

Evolve from product to extensible platform

  • DEVELOPERS: Launch enhanced developer platform and resources that attract 5,000+ developers building on the Miro ecosystem
  • MARKETPLACE: Create app marketplace with 200+ third-party apps and integrations generating 100,000+ installs within the quarter
  • APIS: Release 15 new developer APIs enabling deeper functionality extension and custom workflow automation capabilities
  • ADOPTION: Achieve 60% of enterprise customers using at least one custom integration or marketplace app in their workflow
  • PARTNERSHIPS: Establish 10 strategic ISV partnerships that generate $3M in co-selling revenue and 15% increase in platform usage
METRICS
  • Annual Recurring Revenue (ARR): $500M
  • Net Dollar Retention: 135%
  • Monthly Active Users: 20M
VALUES
  • CONNECT WORK WITH PURPOSE
  • BE HUMBLE, STAY CURIOUS
  • LEARN TOGETHER WIN TOGETHER
  • MAKE CUSTOMERS AWESOME
  • DELIVER WOW
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Align the learnings

Miro Retrospective

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To empower teams to create the next big thing by becoming the leading visual collaboration platform for distributed work

What Went Well

  • REVENUE: Achieved significant ARR growth reaching $400M+ milestone with continued strong expansion in enterprise segment
  • ADOPTION: Surpassed 35 million registered users across more than 150,000 customer organizations globally
  • ENTERPRISE: Expanded penetration within Fortune 500 accounts with 99% of Fortune 100 now using Miro for visual collaboration
  • PRODUCT: Successfully launched AI-powered features including Smart Drawing and automated diagramming capabilities
  • RETENTION: Maintained industry-leading net dollar retention rate of 130%+ indicating strong product-market fit

Not So Well

  • COMPETITION: Faced increased competitive pressure from Microsoft, Figma/Adobe and other well-funded collaboration platforms
  • PRICING: Experienced some downward pressure on contract values amid enterprise budget scrutiny and competitive alternatives
  • CHURN: Saw slight uptick in SMB customer churn due to economic conditions and consolidation of SaaS tool portfolios
  • EFFICIENCY: Growth in operational expenses outpaced revenue growth as global team expanded across multiple locations
  • ACQUISITION: CAC increased by 15% as digital marketing channels became more competitive and saturated

Learnings

  • VERTICALIZATION: Industry-specific solutions drive higher engagement and retention than general collaboration offerings
  • EXPANSION: Land-and-expand strategy most effective when targeting multiple departments within existing enterprise customers
  • ONBOARDING: Initial user experience critical for driving adoption; simplified onboarding increased activation rates by 22%
  • INTEGRATIONS: Customers with 3+ active integrations show 40% higher retention rates than those using Miro in isolation
  • AI ADOPTION: Early AI feature adopters showed 35% higher engagement and were 25% more likely to expand usage

Action Items

  • VERTICAL: Develop industry-specific templates and compliance features targeting healthcare, finance and education sectors
  • ENTERPRISE: Restructure customer success team to focus on department-wide expansion within existing enterprise accounts
  • AI ROADMAP: Accelerate development of generative AI features for diagram creation and content organization
  • PRICING: Introduce new pricing tiers with feature differentiation to address competitive pressure while protecting margins
  • EFFICIENCY: Implement operational efficiency initiatives targeting 15% reduction in non-R&D operational costs
Miro logo
Overview

Miro Market

Competitors
Figma logo
Figma
Microsoft Whiteboard logo
Microsoft Whiteboard
Lucidspark logo
Lucidspark
MURAL logo
MURAL
Conceptboard logo
Conceptboard
Products & Services
No products or services data available
Distribution Channels
Miro logo
Align the business model

Miro Business Model Canvas

Problem

  • Ineffective remote team collaboration
  • Loss of creativity in distributed settings
  • Difficulty capturing and organizing ideas
  • Knowledge silos between team members
  • Meeting inefficiency and lack of alignment

Solution

  • Digital infinite canvas for visual thinking
  • Real-time and asynchronous collaboration
  • Rich template library for various use cases
  • Integrated visual workspace for teams
  • Persistent knowledge repository

Key Metrics

  • Monthly active users
  • Net dollar retention
  • Enterprise account expansion
  • Template usage and engagement
  • Integration adoption rates

Unique

  • Infinite canvas with unmatched flexibility
  • Richest integration ecosystem (100+ tools)
  • Most versatile use case support
  • Enterprise-grade security and compliance
  • Cross-functional collaboration enablement

Advantage

  • First-mover advantage in category
  • 35M+ users creating network effects
  • Rich proprietary collaboration dataset
  • Strong brand recognition in enterprise
  • Deep enterprise customer relationships

Channels

  • Self-service product adoption
  • Enterprise direct sales
  • Partner and reseller network
  • Content marketing and SEO
  • Community-driven advocacy

Customer Segments

  • Enterprise organizations (5,000+ employees)
  • Mid-market companies (100-5,000 employees)
  • SMB teams (10-100 employees)
  • Education institutions
  • Distributed/remote-first organizations

Costs

  • Product and engineering team
  • Sales and marketing
  • Cloud infrastructure
  • Customer success operations
  • R&D for AI and new capabilities
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Overview

Miro Product Market Fit

Miro transforms how distributed teams collaborate by providing a digital infinite canvas where they can visualize, align, and build together regardless of location. Unlike traditional tools that fragment creative processes, Miro unifies workflows across departments, integrates with your existing tech stack, and provides a persistent visual workspace where ideas evolve from concept to execution. With over 35 million users worldwide, we've proven that teams using Miro experience 30% faster project completion, enhanced creativity, and significantly improved alignment across distributed workforces.

1

Unifying remote/hybrid team collaboration

2

Accelerating ideation and decision-making

3

Visualizing complex concepts and workflows



Before State

  • Fragmented collaboration across many tools
  • Ineffective remote ideation and planning
  • Knowledge silos between distributed teams
  • Difficulty visualizing complex information
  • Lost context between synchronous meetings

After State

  • Unified visual collaboration experience
  • Seamless async and real-time teamwork
  • Single source of truth for visual projects
  • Enhanced creativity and ideation
  • Persistent visual knowledge repository

Negative Impacts

  • Decreased productivity and innovation
  • Slow decision-making processes
  • Disconnected team members and low engagement
  • Redundant work and lack of alignment
  • Difficulty onboarding new team members

Positive Outcomes

  • 30% faster project completion times
  • More innovative product development
  • Higher team engagement and satisfaction
  • Improved alignment across departments
  • Better retention of institutional knowledge

Key Metrics

35M+ registered users
NPS score of 70+
130% net revenue retention
4.7/5 stars on G2 with 3,900+ reviews
70%+ weekly active users

Requirements

  • Digital collaboration platform adoption
  • Team training on visual thinking methods
  • Integration with existing tool ecosystem
  • Collaboration process redesign
  • Leadership buy-in for visual workflows

Why Miro

  • Flexible implementation across use cases
  • Guided onboarding and template ecosystem
  • Built-in frameworks for various workflows
  • Robust integration with existing tools
  • Enterprise-ready security and compliance

Miro Competitive Advantage

  • Most versatile visual collaboration platform
  • Infinite canvas beats physical constraints
  • Greater cross-functional collaboration
  • Deepest third-party tool integration ecosystem
  • Best-in-class user experience design

Proof Points

  • 99% of Fortune 100 use Miro
  • Average 30% time savings on collaboration
  • 35M+ users across 150,000+ organizations
  • 4.7/5 stars from 3,900+ reviews on G2
  • 130%+ net revenue retention rate
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Overview

Miro Market Positioning

What You Do

  • Visual collaboration platform for distributed teams

Target Market

  • Remote and hybrid teams across all functions

Differentiation

  • Most extensive integration ecosystem
  • Infinite canvas digital whiteboard
  • Enterprise-grade security and compliance
  • Asynchronous and real-time collaboration
  • Multi-device accessibility

Revenue Streams

  • Subscription plans (Team, Business, Enterprise)
  • Add-on services and consulting
  • Enterprise agreements
  • Education and training programs
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Overview

Miro Operations and Technology

Company Operations
  • Organizational Structure: Function-based with global distribution
  • Supply Chain: Cloud infrastructure with global data centers
  • Tech Patents: Multiple patents in visual collaboration tech
  • Website: https://miro.com
Top Clients
Miro logo
Competitive forces

Miro Porter's Five Forces

Threat of New Entry

MODERATE - Low capital barriers but significant network effect moats for established players with 35M+ users like Miro

Supplier Power

LOW - Limited dependency on suppliers with primary costs being engineering talent and cloud infrastructure, multiple vendor options available

Buyer Power

MODERATE - Large enterprises have negotiating leverage, but switching costs increase post-integration and user adoption

Threat of Substitution

HIGH - Risk from productivity platforms (Microsoft, Google) adding visual collaboration as a feature rather than standalone product

Competitive Rivalry

HIGH - Intensely competitive market with well-funded players like Figma (Adobe), MURAL, Microsoft, and new entrants driving innovation race

Analysis of AI Strategy

5/20/25

Miro is uniquely positioned to leverage AI as a transformative force in visual collaboration, with its vast repository of collaboration data and established platform providing immediate implementation opportunities. The strategy should focus on four critical AI priorities: creating AI-powered content generation to reduce the barrier to visual thinking, building intelligent organization tools that maintain clarity as boards scale, automating repetitive workflows to boost productivity, and enabling cross-organizational knowledge discovery. By prioritizing these initiatives, Miro can address the key threat of commoditization from major competitors while capitalizing on its data and canvas strengths. Success will require aggressive AI talent acquisition and thoughtful management of data privacy concerns to maintain customer trust.

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Drive AI transformation

Miro AI Strategy SWOT Analysis

To empower teams to create the next big thing by becoming the leading visual collaboration platform for distributed work

Strengths

  • DATA: Vast repository of collaboration patterns and workflows across 35M+ users provides unique AI training data for collaboration optimization
  • CANVAS: Infinite visual canvas provides ideal environment for implementing AI-powered diagramming, organization and content generation
  • INTEGRATION: Existing robust API and integration ecosystem enables rapid connection to leading AI platforms and seamless workflow automation
  • TEAM: Strong engineering talent and product development capabilities to quickly implement and iterate on AI-enhanced features
  • FUNDING: Well-capitalized with $400M+ in funding providing resources to invest significantly in AI research and implementation

Weaknesses

  • EXPERTISE: Limited in-house AI/ML specialized talent compared to tech giants investing heavily in the space requiring rapid team expansion
  • COMPLEXITY: Visual and spatial nature of core product creates unique AI challenges that general-purpose models aren't optimized to handle
  • INFRASTRUCTURE: Need for significant infrastructure upgrades to support compute-intensive AI features at enterprise scale and performance
  • PRIORITIZATION: Competing product roadmap priorities may slow AI feature deployment compared to more AI-focused competitors
  • DATA PRIVACY: Enterprise customer concerns about data usage for AI training limiting potential data utilization for model improvement

Opportunities

  • GENERATIVE CONTENT: Implementing generative AI for instant creation of diagrams, mind maps, and visual frameworks from text prompts
  • WORKFLOW AUTOMATION: Developing AI assistants to automate repetitive tasks like organizing boards, summarizing content, and documentation
  • INSIGHT EXTRACTION: Creating AI analytics to identify patterns, generate insights and provide recommendations from collaborative sessions
  • PERSONALIZATION: Building adaptive interfaces that customize to user behavior patterns and preferred collaboration styles
  • KNOWLEDGE DISCOVERY: Enabling cross-board content search and knowledge graph creation to surface relevant insights across the organization

Threats

  • COMPETITION: Major competitors like Microsoft and Adobe/Figma investing heavily in AI with potentially greater resources and talent pools
  • COMMODITIZATION: Core visual collaboration features becoming AI-automated commodities reducing differentiation in the marketplace
  • REGULATION: Emerging AI regulations and compliance requirements potentially limiting implementation or increasing development costs
  • DATA SECURITY: Increased customer concerns about data privacy and security when AI processing is applied to sensitive business content
  • EXPECTATIONS: Rapidly evolving user expectations for AI capabilities creating pressure to deliver sophisticated features quickly

Key Priorities

  • AI-POWERED CREATION: Develop generative AI tools that transform text prompts into visual diagrams, workflows, and organized content
  • INTELLIGENT ORGANIZATION: Build AI assistants that automatically organize, categorize, and structure collaborative content on boards
  • WORKFLOW AUTOMATION: Create AI capabilities that identify and automate repetitive tasks while providing intelligent recommendations
  • KNOWLEDGE DISCOVERY: Implement cross-board search and knowledge graph creation to surface relevant insights across the organization
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Miro Financial Performance

Profit: Not publicly disclosed
Market Cap: ~$17.5B valuation (private)
Stock Symbol: Private company
Annual Report: Not publicly available
Debt: Minimal, VC-backed
ROI Impact: Strong unit economics, 3x-5x CAC:LTV
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