Smartsheet raises $1.25 Million in B Round

Posted by Karilyn Kempton

Bellevue-based Smartsheet has just raised $1.25 million from Madrona Venture Group and their own Chairman in their B Round.

”There’s no better investment in today’s economy than in your own team," said Brent Frei, Executive Chairman of Smartsheet.com. Frei's consistent advice to friends, colleagues and family has been to "Invest in Yourself" - "I’ve followed my own investment advice and put my money where I know the team, product and plan are stable and growing. Smartsheet.com. Our modest $1.25M B round should take us to profitability in 2010 and beyond. Plus, there’s no better time to double down on yourself than when the tailwinds are out of everyone's sail and you have strong rowers. Market inertia won't be driving your competitors around you, they'll have to put their backs to the oars if they expect to survive."

Smartsheet offers a collaborative online spreadsheet service. The company has raised $5.56 million since its inception in 2006. Smartsheet currently boasts 65,000 users across 30 countries.

The cash infusion will help Smartsheet expand into its focused market, and work on some product development.

Is anyone else out there taking Frei's advice and investing in their own team?

Company:
Smartsheet
Website:
http://www.smartsheet.com
Location:
Bellevue, Washington, United States

Keep track of work, collaborate with colleagues and clients, and easily update information online. If out-of-date tracking spreadsheets and a huge inbox aren't working for you, get in control with Smartsheet. With unlimited file sharing, discussions, and alerts, you'll save time and always know where things stand. Launched in 2006 and based in Bellevue, Washington, Smartsheet.com is privately-held Software as a... more


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Karilyn Kempton

Karilyn Kempton

Karilyn is a tech writer, a nerd and a ski bum. She is particularly interested in mobile innovations, and always has her hands in a few projects at a time. She will be living in Revelstoke, BC for the winter, splitting her time between skiing and writing. Send her an email at karilyn.kempton [at] gmail.com, check out her blog at www.karilynkempton.com, and stay tuned to www.thestoke.ca for her... more



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