SmartSheet Raises $52 Million

Software startup SmartSheet announced the completion of $52 million in Series F financing. Four investors contributed to the round: Insight Venture Partners, Madrona Venture Group, Sutter Hill Ventures, and Summit Partners.

Smartsheet says it is the world’s leading SaaS platform for managing and automating collaborative work. The company’s spreadsheet-like app is widely used to track and manage diverse types of work, including team projects and task lists, customer information, sales pipelines, event schedules, and business processes. Smartsheet claims that its product is trusted by more than 90,000 businesses and millions of users in more than 190 countries.

According to the company, the new funding will be used to accelerate investments in product, sales and marketing, as well as infrastructure to support increasing demand for Smartsheet’s platform.