What is Smartsheet?
Founded in 2005 and headquartered in Bellevue, Washington, Smartsheet provides a sophisticated cloud-based platform designed to streamline organizational workflows. By enabling teams to plan, capture, manage, automate, and report on work, the company addresses critical inefficiencies in modern business operations. Smartsheet has evolved into a vital tool for enterprises seeking to drive innovation and accelerate project delivery. Its market position is defined by its versatility, serving organizations of all sizes that require scalable, data-driven project management and collaborative infrastructure to maintain a competitive edge in an increasingly digital economy.
How much funding has Smartsheet raised?
Smartsheet has raised a total of $502.6M across 7 funding rounds:
Series A
$2.7M
Series B
$1.2M
Series C
$1.5M
Series D
$17.5M
Series E
$35M
Series F
$52.1M
Stock Offering
$392.6M
Series A (2007): $2.7M with participation from John D. Creason, Madrona Venture Group, Mark Mader, and Brent R. Frei
Series B (2009): $1.2M led by Brent R. Frei and Madrona Venture Group
Series C (2010): $1.5M supported by Undisclosed
Series D (2012): $17.5M featuring Undisclosed
Series E (2014): $35M backed by Insight Venture Partners, Madrona Venture Group, and Sutter Hill Ventures
Series F (2017): $52.1M with participation from Summit Partners, Insight Venture Partners, Madrona Venture Group, and Sutter Hill Ventures
Stock Issuance/Offering (2019): $392.6M led by Undisclosed
Key Investors in Smartsheet
Madrona Venture Group
Founded in 1995, Madrona Venture Group is a venture capitalist investment company including consumer internet, commercial software, and services.
Insight Venture Partners
Insight Partners is a global software investor that provides capital and operational support to high-growth technology companies through its specialized portfolio platform.
Sutter Hill Ventures
Sutter Hill Ventures is a premier Palo Alto-based firm focused on financing technology-based start-ups and assisting entrepreneurs in building market-leading companies.
What's next for Smartsheet?
Looking ahead, Smartsheet is well-positioned to leverage its significant capital reserves to deepen its product capabilities in artificial intelligence and automated workflow orchestration. As the enterprise software landscape shifts toward more integrated, low-code environments, the company is expected to focus on expanding its ecosystem of third-party integrations and enhancing its reporting analytics. By maintaining a focus on high-growth enterprise segments, Smartsheet aims to further solidify its role as the central nervous system for modern business operations, ensuring that its platform remains indispensable for global teams navigating complex project lifecycles.
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