|By Business Wire||
|May 5, 2014 06:01 AM EDT||
Smartsheet, the collaborative work management tool used by more than 42,000 paying organizations and millions of users worldwide, today announced it closed a new round of financing of $35 million led by Palo Alto-based Sutter Hill Ventures. This financing will fuel the expansion of the spreadsheet-inspired tool and capitalizes on the momentum of wide-scale adoption, especially within large enterprises. Previous investors, Insight Venture Partners and Madrona Venture Group, also participated in the round.
Mark Mader, Chief Executive Officer at Smartsheet (Photo: Business Wire)
Over the past year, Smartsheet increased its enterprise customer base by 5x, which includes many of the world’s industry-leading organizations such as Google, The U.S. General Services Administration (GSA), Netflix, Office Depot, Groupon, Intercontinental Hotels Group, Pearson, Unisource, Oceaneering, McGraw-Hill Education, Bucknell University, Ecova, Extreme Networks, Red Hat, WestEd, and Wargaming.net. Smartsheet funding now totals $70 million.
“We are looking for companies that offer ‘consumer-like’ apps but have the power of enterprise solutions for solving real-world business problems,” said Jim White, Managing Director at Sutter Hill Ventures. “Smartsheet has the simplicity of a spreadsheet but the power of a database, project management and collaboration solution tied together. The viral nature and deep usage within enterprises is being proven out with their impressive roster of customers.”
As part of the financing, White joins the Smartsheet Board of Directors. He currently serves on the boards at global brands Shutterfly and Glassdoor.com and has been named to the Forbes Midas List several times for his success in investing in disruptive technology companies.
“We believe there’s a fundamental shift occurring in how technology influences how work gets done in organizations,” explained Mark Mader, president and CEO of Smartsheet. "While Smartsheet was cash-flow positive in March, the success and opportunity we see with enterprise customers makes additional investment a clear choice.”
Earning the Enterprise From the “Bottom Up”
Like many cloud-based tools, Smartsheet is primarily discovered and adopted by teams to collaborate on projects and manage business processes—from marketing launches to IT tasks.
Smartsheet virally expands as people “share their sheets” with other team members, clients and vendors. Additionally, Smartsheet meets companies’ staunch requirements for enterprise-level security, mobile capabilities, administrative controls, and integration with cloud tools and core systems. With the combination of “consumer-easy” and “enterprise-ready” capabilities, the number of people using Smartsheet in enterprise accounts quadruples on average in the first year.
“The themes of BYOA and BYOD form a major part of today's modern enterprise IT landscape.” said Alan Lepofsky, VP and Principal Analyst, Constellation Research. “While the BYOA trend satisfies the business user’s needs for point solutions that they can actually use, it can complicate and at times even conflict with an organization’s enterprise-level IT strategy. However, the best cloud-based apps often see growth from department to department and even across an entire organization."
Groupon has seen the adoption of Smartsheet grow to more than 2,000 people since Erica Geil, Director, Global Operations first introduced it to the PMO group two years ago. Adoption continues to spread rapidly.
“Smartsheet stood out as the clear choice for our group because it’s easy to use and flexible enough to coordinate a wide range of projects and tasks,” said Geil. "It’s been really exciting to see how Smartsheet has spread like wildfire – from Engineering to our Audit and Travel teams around the world. It reinforces our commitment to provide tools that work however the teams work. Smartsheet works alongside Google Apps and other core systems, and via mobile—satisfying our need to increase efficiency, control costs, and collaborate securely. Smartsheet meets all these requirements and more.”
Smartsheet, a leading Software as a Service (SaaS) company, offers businesses an intuitive collaboration and work management 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 collaboration and project management tool. Smartsheet is used by teams across more than 165 countries to organize, plan and execute a broad spectrum of projects and processes, including marketing campaigns, product launches, business operations, events, strategic planning and HR initiatives. 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. Additionally, Smartsheet offers mobile apps, pre-built templates and integrations with leading cloud apps such as Box, Dropbox, Salesforce, Google Drive and Zapier to ensure users are up and running quickly. Visit www.smartsheet.com for more details.
SYS-CON Events announced today that B2Cloud, a provider of enterprise resource planning software, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. B2cloud develops the software you need. They have the ideal tools to help you work with your clients. B2Cloud’s main solutions include AGIS – ERP, CLOHC, AGIS – Invoice, and IZUM
Apr. 18, 2015 05:15 PM EDT Reads: 3,028
SYS-CON Events announced today that Intelligent Systems Services will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Established in 1994, Intelligent Systems Services Inc. is located near Washington, DC, with representatives and partners nationwide. ISS’s well-established track record is based on the continuous pursuit of excellence in designing, implementing and supporting nationwide clients’ mission-cri...
Apr. 18, 2015 05:15 PM EDT Reads: 2,278
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists will discuss how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations m...
Apr. 18, 2015 05:00 PM EDT Reads: 1,646
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at 16th Cloud Expo, Haseeb Budhani, CEO and Co-founder of Soha, will share five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the frict...
Apr. 18, 2015 04:30 PM EDT Reads: 1,374
of cloud, colocation, managed services and disaster recovery solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. TierPoint, LLC, is a leading national provider of information technology and data center services, including cloud, colocation, disaster recovery and managed IT services, with corporate headquarters in St. Louis, MO. TierPoint was formed through the strategic combination of some of t...
Apr. 18, 2015 04:00 PM EDT Reads: 1,296
SYS-CON Events announced today that Soha will exhibit at SYS-CON's DevOps Summit New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Soha delivers enterprise-grade application security, on any device, as agile as the cloud. This turnkey, cloud-based service enables customers to solve secure application access and delivery challenges that traditional or virtualized network solutions cannot solve because they are too expensive, inflexible and operational...
Apr. 18, 2015 03:45 PM EDT Reads: 1,417
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements...
Apr. 18, 2015 02:00 PM EDT Reads: 1,352
SYS-CON Events announced today that Optimal Design, an Internet of Things solution provider, will exhibit at SYS-CON's Internet of @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Optimal Design is an award winning product development firm offering industrial design and engineering services to the consumer, medical, and defense markets.
Apr. 18, 2015 01:45 PM EDT Reads: 1,580
SYS-CON Events announced today that Tufin, the market-leading provider of Security Policy Orchestration Solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. As the market leader of Security Policy Orchestration, Tufin automates and accelerates network configuration changes while maintaining security and compliance. Tufin's award-winning Orchestration Suite™ gives IT organizations the power and a...
Apr. 18, 2015 01:45 PM EDT Reads: 3,247
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and eas...
Apr. 18, 2015 01:15 PM EDT Reads: 3,534
SOASTA, the leader in performance analytics, today reported record growth of the CloudTest community, exceeding 30,000 registered users of the CloudTest platform in Q1 2015. SOASTA also announced widespread adoption of its Web and mobile testing solutions, with more than 1,600 customers completing more than 285,000 tests using CloudTest during the quarter. This rapid growth shows that DevOps-driven digital businesses are embracing a more continuous approach to testing, and CloudTest is meeting t...
Apr. 18, 2015 01:00 PM EDT Reads: 1,017
ProfitBricks has launched its new DevOps Central and REST API, along with support for three multi-cloud libraries and a Python SDK. This, combined with its already existing SOAP API and its new RESTful API, moves ProfitBricks into a position to better serve the DevOps community and provide the ability to automate cloud infrastructure in a multi-cloud world. Following this momentum, ProfitBricks has also introduced several libraries that enable developers to use their favorite language to code ...
Apr. 18, 2015 01:00 PM EDT Reads: 1,307
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cloudian, Inc., is a Foster City, California - based software company specializing in cloud storage software. The main product is Cloudian, an Amazon S3-compliant cloud object storage platform, the bedrock of cloud computing systems, that enables c...
Apr. 18, 2015 01:00 PM EDT Reads: 2,320
SYS-CON Events announced today that Stratoscale, the new data center operating system, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Based in Herzeliya, Israel, Stratoscale is redefining the data center, developing a hardware-agnostic, software platform hyper-converging compute, storage and networking across the rack or data center. The self-optimizing platform automatically distributes all physical...
Apr. 18, 2015 01:00 PM EDT Reads: 1,559
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
Apr. 18, 2015 12:45 PM EDT Reads: 4,183