New Investment, Huge Opportunities

Mark Mader's blog - Dec 1 2012 - 1:24pm

Today, we’re thrilled to announce an exciting development for Smartsheet and our customers. Led by Insight Venture Partners with participation from existing partner Madrona Venture Group, Smartsheet has secured an additional $26 million dollars of capital.

Why raise capital?
Fair question. Even with our increased buildout in R&D, Marketing, and Service over the past two years, Smartsheet had reached cash flow positive. Our objective: invest even faster to bring a more capable Smartsheet collaboration platform to millions more people and organizations around the world.

We’re proud of our more than 20,000 paying customers in over 100 countries. From our most passionate small businesses owners, to the household name Fortune 500, to our federal government customers seeking to transform how work gets done -- we thank each of you and look forward to expanding a vibrant Smartsheet community.

What now?
Improve and expand – across all fronts. The most visible will be improvements to the service itself. Enhancements, new features, expanded native mobile capabilities, integrations to more web services, and expansion of the Smartsheet API, will enable support for diverse workflows new possibilities for collaboration.

Beyond product enhancements, it’s time to put the pedal down on growth. More than a billion people use spreadsheets to manage work and projects, which signifies there’s certainly a huge, ready-made opportunity for Smartsheet.

And that acceleration means our team will grow. We’re looking to triple our size in 18 months - not by adding talented folks, but the most-talented folks who can help us drive and shape Smartsheet into the leader in work collaboration.

Onward!
- Mark

Comments

Alerts

December 20, 2012 - 11:40am — Grant Smith - Hydralada (not verified)

needs to urgently have available re-occuring alerts for daily, weekly, monthly, annually.

this would transform the whole smartsheet as a communication centre for businesses re-occurring tasks and monthly checks.

Re: Alerts

December 20, 2012 - 4:53pm — Kelly Anthony

Hi Grant,

There are a few different options in Smartsheet to set up recurring alerts. Try scheduling row or sheet update requests. These can be scheduled on a recurring daily, weekly, or monthly basis. Update requests can be sent to any email address.

You can also try modifying our recurring task template (https://www.smartsheet.com/b/home?lx=StpExvDxbXItsmUiPzsYbA), which is designed with a formula-driven date column with alerts. This technique can be used on any kind of sheet: projects, lease tracking, inventory re-ordering, etc.

- Kelly

Smartsheet

December 20, 2012 - 1:48am — James Eyre (not verified)

Great product and evolving. This is the second company I have introduced Smartsheet too and everyone loves it, me included!

Congratulations Smartsheet

December 19, 2012 - 5:42pm — Bill Lee Managing Director WGL (not verified)

Congratulations to the team at SmartSheet on your fantastic software tool. We are a user and we recommend the product to our clients we consult to on project management and Agile project management processes. Having had extensive experience in bringing a software product to the market it is wonderful how you have been listening and responding to your user requests for feature improvements. Keep up the great work.

congrats

December 19, 2012 - 4:14pm — Tom Gallivan (not verified)

I'm probably your smallest paying customer; I'm in the process of deciding to launch a new company/service for dental practice management (I'm a former dentist). I was so impressed with Smartsheet I signed up for a subscription even in this "I wonder if". "Should/could I use this..." stage. I've also been involved in startups where, despite good ideas and good people the necessary growth capital couldn't be found. Congratulations Smartsheet! Go get 'em.

Congratulations

December 3, 2012 - 3:56pm — John Rajala (not verified)

Hey Mark and the Smartsheet Team:

Rajala Companies loves Smartsheet, and we look forward to even bigger and greater things from the people and product which this capital infusion will certainly provide. Smartsheet enables us to be lean and productive in our manufacturing and forestry operations. Keep it coming!