Coefficient Raises $18M in Series A Funding


Coefficient, a Mountain View, CA-based company that turns business users into builders with real-time data connectivity and automation in spreadsheets, raised $18M in Series A funding.

The round was led by Battery Ventures, with participation from existing investors Foundation Capital and S28 Capital.

The company intends to use the funds to expand its product offerings to integrate its data and reporting automation tools with Microsoft Excel, expanding access to millions of additional users, and scale its global operations.

Co-founded by Navneet Loiwal and Tommy Tsai, Coefficient is a no-code solution that allows business teams to work with live data directly from their spreadsheets. The core product is a Google Sheets add-on that integrates with CRMs, SQL databases and other SaaS tools to allow business users to import and manipulate data within spreadsheets. Users can also build, share and automate live reports, set up alerts, and write back enriched data to different SaaS tools.

The product is currently used by customers including Zendesk, Spotify, Foursquare, Contentful and Miro.

Also announced today, Coefficient will expand its product offerings to include the company’s new Spreadsheet Template Gallery, which provides users with pre-made spreadsheet dashboards for common reports used by business operations teams. Coefficient users will be able to connect these dashboards to existing data systems, such as Salesforce or HubSpot, to enable live data to power all charts and KPIs within the spreadsheets.