Smartsheet Closes $35M Funding

smartsheetSmartsheet, a Bellevue, Wash.-based provider of a collaborative work management tool, closed a $35m funding round.

The round was led by Palo Alto-based Sutter Hill Ventures, with participation from previous investors Insight Venture Partners and Madrona Venture Group. In conjunction with the funding, Jim White, Managing Director, Sutter Hill Ventures, joined Smartsheet’s Board of Directors.

The company intends to use the funds its tool and accelerate wide-scale adoption, especially within large enterprises.

Led by Mark Mader, president and CEO, Smartsheet provides a Software as a Service (SaaS) collaboration and work management tool offering a spreadsheet-like interface, file sharing, work automation and Gantt chart features, as well as mobile apps, pre-built templates and integrations with cloud apps such as Box, Dropbox, Salesforce, Google Drive and Zapier.
It is used by teams across more than 165 countries to organize, plan and execute projects and processes, including marketing campaigns, product launches, business operations, events, strategic planning and HR initiatives.
Customers include more than 42,000 paying construction companies, consulting firms, schools and universities, utility firms, government entities, healthcare organizations, high-tech firms, non-profits, manufacturing and law firms, among others.



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