Welcome!

@CloudExpo Authors: Pat Romanski, Liz McMillan, Elizabeth White, Kevin Jackson, Sanjay Zalavadia

News Feed Item

Smartsheet Raises $26 Million in Funding from Insight Venture Partners and Madrona Venture Group

Popular collaboration tool embraced by more than a million users across 100 countries

BELLEVUE, Wash., Dec. 3, 2012 /PRNewswire/ -- Smartsheet.com Inc., a leading online collaboration provider, today announced it has secured $26 million from Insight Venture Partners and Madrona Venture Group. The company will use the funding to accelerate sales and marketing efforts, advance software development efforts, and expand partnerships. As part of the transaction, Ryan Hinkle, principal at Insight Venture Partners, will join Smartsheet's Board of Directors.

(Logo: http://photos.prnewswire.com/prnh/20121203/SF22131LOGO)

Today, more than 1 million people across 100 countries use Smartsheet to coordinate and manage processes and projects by sharing critical information securely with colleagues, vendors, and clients. Its easy-to-use spreadsheet-inspired design and cloud-based architecture is revolutionizing how groups of all sizes can work effectively together. Smartsheet is deployed in a broad range of customer environments, from large enterprises including HomeAway, DHL, Toshiba, ESPN, Sony Music, and MetLife to small and medium-sized companies such as Motion Federal Credit Union and Cypress Grove Chevre.

"Emailing spreadsheets back and forth just doesn't cut it anymore," said Mark Mader, chief executive officer of Smartsheet. "Dispersed and virtual teams need a more effective way to work together, and Smartsheet is that platform. Smartsheet is, first and foremost, extremely easy to use – but it is also secure and scales up to enable highly complex, multi-departmental processes. Our continued triple-digit growth tells us we've built something that virtually every organization needs. We're going to use this additional capital to further expand Smartsheet's capabilities, and to reach organizations that need Smartsheet but don't know about it yet."

"Insight is a big user of Smartsheet and one of the more than 20,000 organizations who organically discovered and benefits from the work collaboration that Smartsheet provides," commented Hinkle. "Our own experience using Smartsheet, along with market dynamics, convinced us of Smartsheet's tremendous growth potential and the opportunity it has to be a leading global provider of team-based collaboration products. We are excited to join the team and support them in their vision."

Smartsheet meets the demands of a modern workforce and has gained significant popularity with organizations for managing a broad array of work – from marketing campaigns to product launches, business operations, sales pipelines, strategic planning and HR initiatives. Smartsheet also offers pre-built templates and integrations with leading cloud apps including Google Drive, Box and Salesforce to ensure users are up and running quickly.

According to Forrester Research, the online collaboration software market is expected to grow significantly in the coming years as companies look for better ways to collaborate and manage projects. In fact, Forrester Survey data indicates "the majority of decision makers at organizations deploying collaboration software indicate they either use or plan to use collaboration SaaS to some extent within the next two years."

About Smartsheet
Smartsheet, a leading Software as a Service (SaaS) company, offers businesses an intuitive online collaboration tool. The ease of use of the familiar spreadsheet-like interface, coupled with file sharing, work automation and Gantt chart features have made it a popular and highly functional online collaboration tool for teams. Organizations worldwide rely on Smartsheet to help them manage their work. Customers include construction companies, consulting firms, schools and universities, utility firms, government entities, healthcare organizations, high-tech firms, non-profits, manufacturing and law firms, among others. Visit www.smartsheet.com for more details.

About Insight Venture Partners
Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight has a successful two-team structure: its investment team evaluates thousands of companies globally each year; its Insight Onsite team of consultants works with growth-stage management to provide resources and advice to allow them to achieve long-term success. For more information, visithttp://www.insightpartners.com.

About Madrona Venture Group
Madrona (www.madrona.com) has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region's most successful technology ventures. The firm invests predominantly in seed and Series A rounds across the information technology spectrum including consumer Internet, commercial software and services, digital media and advertising, networking and cloud computing, and mobile. Madrona manages nearly $1 billion and was an early investor in companies such as Amazon.com, Farecast.com, Isilon Systems, Sharebuilder, and World Wide Packets.

SOURCE Smartsheet

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
"We work in the area of Big Data analytics and Big Data analytics is a very crowded space - you have Hadoop, ETL, warehousing, visualization and there's a lot of effort trying to get these tools to talk to each other," explained Mukund Deshpande, head of the Analytics practice at Accelerite, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2016' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited t...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Unless your company can spend a lot of money on new technology, re-engineering your environment and hiring a comprehensive cybersecurity team, you will most likely move to the cloud or seek external service partnerships. In his session at 18th Cloud Expo, Darren Guccione, CEO of Keeper Security, revealed what you need to know when it comes to encryption in the cloud.
Edge Hosting has announced a partnership with and the availability of CloudFlare, a web application firewall, CDN and DDoS mitigation service. “This partnership enhances Edge Hosting’s world class, perimeter layer, application (layer 7) defensive mechanism,” said Mark Houpt, Edge Hosting CISO. “The goal was to enable a new layer of customer controlled defense and compliance through the application of DDoS filters and mitigations, the web application firewall (WAF) feature and the added benefit ...
"SpeedyCloud's specialty lies in providing cloud services - we provide IaaS for Internet and enterprises companies," explained Hao Yu, CEO and co-founder of SpeedyCloud, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection. In his session at 18th Cloud Expo, Bradley Holt, a Developer Advocate with IBM Cloud Data Services, discussed...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profession...
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists discusse...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.