Smartsheet Inc.

Last updated
Smartsheet Inc.
Formerly
  • Navigo Technologies, Inc. (2005–2006)
  • Smartsheet.com, Inc. (2006–2017)
Company type Private
  • NYSE: SMAR (2018–2025)
Founded2005;20 years ago (2005)
Founders
  • Maria Colacurcio
  • Brent Frei
  • Eric Brown
Headquarters Bellevue, Washington, U.S.
Key people
  • Michael Gregoire (chairman)
  • Mark Mader (CEO)
Products Smartsheet
RevenueIncrease2.svg US$958 million (2024)
Increase Negative.svgUS$−120 million (2024)
Increase Negative.svgUS$−105 million (2024)
Total assets Increase2.svgUS$1.34 billion (2024)
Total equity Increase2.svgUS$606 million (2024)
Owners
Number of employees
3,330 (2024)
Website smartsheet.com
Footnotes /references
Financials as of January 31,2024. [1]

Smartsheet Inc. is an American privately held company that develops and markets the Smartsheet application. As of 2023, it had over 3,000 employees, and is headquartered in Bellevue, Washington. [2] The company was founded in the summer of 2005, shortly after co-founder Brent Frei sold his prior company, Onyx Software. [3] [4] [5] Initially it was funded mostly by Frei. [3] About a year after its founding, Smartsheet had raised $4 million in funding and had just nine employees. [4] By early 2012 it had raised $8.2 million in funding over three rounds and hired its first salesperson. [6] [7] The company went public in 2018 via an initial public offering and in 2025 was taken private again by private equity firms Blackstone Inc. and Vista Equity Partners.

Contents

After the Smartsheet software was redesigned in 2010, the company's revenues grew by more than 100 percent each year, for four consecutive years. [8] It raised $26 million in funding in December 2012 [9] [7] and another $35 million in May 2014. [6] In 2017, the company raised an additional $52.1 million in funding. [10] In 2018, it was announced that Smartsheet acquired Converse.AI, a Scotland-based company that develops software for creating business automation bots. [11]

The company began trading on the New York Stock Exchange on April 27, 2018. [12] In May 2019, Smartsheet announced it had acquired 10,000 ft, a SaaS platform that provides real-time resource and capacity planning. [13]

In September 2024, Vista Equity Partners and Blackstone announced their intent to buy Smartsheet for $8.4 billion in cash, at $56.50 per share. [14] The acquisition was completed in January 2025. [15]

Executive Team

[16]

References

  1. ↑ "Smartsheet Inc. Form 10-K for the fiscal year ended January 31, 2024". U.S. Securities and Exchange Commission. March 20, 2024.
  2. ↑ Martin, Dylan (January 19, 2017). "A Seattle Tech Company Is Expanding to Boston With Plans to Hire 140". BostInno. Retrieved March 2, 2017.
  3. 1 2 Strauss, Karsten (March 12, 2013). "Former Microsoft Analyst Wants To Disrupt MS Excel, Project". Forbes. Retrieved September 11, 2015.
  4. 1 2 Cook, John (June 14, 2007). "Bellevue startup gets $2.69 million financing deal". seattlepi. Hearst Seattle Media. Retrieved September 11, 2015.
  5. ↑ Hack, Greg (April 2, 2015). "Arena designer Populous also manages events inside". The Kansas City Star. Retrieved September 13, 2015.
  6. 1 2 Romano, Benjamin (May 5, 2014). "Smartsheet Wins Big Customers, $35M From Sutter Hill Ventures". Xconomy. Retrieved September 11, 2015.
  7. 1 2 "Smartsheet Grabs $26M After 'De-Enterprising' its Collaboration Software" . WSJ. December 3, 2012. Retrieved September 11, 2015.
  8. ↑ "100 Best Companies to Work For 2014: Midsize Companies – Washington and Puget Sound Business News Source". Seattle Business Magazine. July 2014. Retrieved September 11, 2015.
  9. ↑ Grant, Rebecca (December 3, 2012). "Smartsheet gets $26M to keep enterprise workflow under control". VentureBeat. Retrieved September 11, 2015.
  10. ↑ "Work management startup Smartsheet raises $52.1 million, claims a $852 valuation". VentureBeat. May 24, 2017. Retrieved June 1, 2017.
  11. ↑ "Smartsheet acquires business automation chatbot startup Converse.AI | VentureBeat". venturebeat.com. 16 January 2018.
  12. ↑ Novet, Jordan (27 April 2018). "Software company Smartsheet spikes in IPO". CNBC . Retrieved 27 April 2018.
  13. ↑ "Bellevue's Smartsheet Acquires Seattle Tech Company 10,000ft". Seattle Business Magazine. 2019-05-02. Retrieved 2019-09-10.
  14. ↑ Chapman, Michelle (2024-09-24). "Vista, Blackstone buying software maker Smartsheet for about $8.4 billion". Associated Press .
  15. ↑ Soper, Taylor (January 22, 2025). "Smartsheet officially goes private, completes acquisition by Blackstone and Vista Equity Partners". GeekWire.
  16. ↑ "Leadership | Smartsheet".
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