Smartsheet offers cloud-native, spreadsheet-style collaboration software that helps teams set up and manage tasks, workflows and work tracking across organizations. The product uses a freemium model where editing rights are paid, with tiers ranging from $14 to $25 per user and custom enterprise pricing. Management highlights include an automation layer that incorporates AI to guide users through tasks and sheets. The company reports roughly a $100 million annual run rate and about 60% year-over-year growth over the past five years. Smartsheet has roughly 70,000 paying businesses, about 550,000 licensed customers and a few million additional free users. The company plans to use part of the new funding to expand integrations (including a planned Slack integration later this year) and continue product and market expansion. Smartsheet was founded in 2006 and is based in Bellevue, Washington. Smartsheet offers a spreadsheet-like collaborative work management platform with file sharing, work automation, Gantt charts, mobile apps, pre-built templates and integrations with Box, Dropbox, Salesforce, Google Drive and Zapier. The product emphasizes a familiar, consumer-easy interface combined with enterprise-ready security, administrative controls and mobile capabilities. Adoption is viral within organizations—Smartsheet says enterprise usage typically quadruples in the first year—and its enterprise customer base grew 5x over the past year. The tool is used across more than 165 countries and by large organizations including Google, the U.S. GSA, Netflix, Groupon and others. Smartsheet reported it was cash-flow positive in March. The company says the new capital will fuel expansion of the spreadsheet-inspired tool to capitalize on wide-scale enterprise adoption. Smartsheet offers a cloud-based collaboration and project-management tool built around a spreadsheet-inspired UI designed for users familiar with Excel. The product supports use cases from marketing campaigns and product launches to business operations, sales pipelines, strategic planning, and HR initiatives. It provides pre-built templates and integrations with cloud apps including Google Drive, Box, and Salesforce. The company reports more than a million users and counts customers such as HomeAway, DHL, Toshiba, ESPN, Sony Music, and MetLife. Smartsheet has raised funding to date exceeding $30 million and will use its latest proceeds to expand sales and marketing and build partnerships. The platform is positioned for enterprise deployment and wider adoption within existing and new corporate customers.

Total raised

$113M

Funding rounds

3

Latest round

Series F

Latest activity

May 2017