Smartsheet Inc.

{{short description|American technology company}}

{{For|the software application|Smartsheet}}

{{Infobox company

| name = Smartsheet Inc.

| logo = Smartsheet_Horizontal_Logo.png

| former_names = {{unbulleted list|Navigo Technologies, Inc. (2005–2006)|Smartsheet.com, Inc. (2006–2017)}}

| type = Private

| traded_as = {{ubl|{{NYSE was|SMAR}} (2018–2025)}}

| founded = {{Start date and age|2005}}

| founders = {{ubl|Maria Colacurcio|Brent Frei|Eric Brown}}

| hq_location = Bellevue, Washington, U.S.

| key_people = {{ubl|Michael Gregoire (chairman)|Mark Mader (CEO)}}

| products = Smartsheet

| revenue = {{increase}} {{US$|958 million|link=yes}} (2024)

| operating_income = {{increasenegative}} {{US$|-120 million}} (2024)

| net_income = {{increasenegative}} {{US$|-105 million}} (2024)

| assets = {{increase}} {{US$|1.34 billion}} (2024)

| equity = {{increase}} {{US$|606 million}} (2024)

| num_employees = 3,330 (2024)

| owners = {{ubl |Blackstone Inc. |Vista Equity Partners}}

| website = {{URL|smartsheet.com}}

| footnotes = Financials {{asof|2024|1|31|lc=y|df=US}}.{{Cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001366561/000136656124000062/smar-20240131.htm|title=Smartsheet Inc. Form 10-K for the fiscal year ended January 31, 2024 |date=March 20, 2024 |publisher=U.S. Securities and Exchange Commission}}

}}

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.{{cite web | last=Martin | first=Dylan | title=A Seattle Tech Company Is Expanding to Boston With Plans to Hire 140 | website=BostInno | date=January 19, 2017 | url=http://bostinno.streetwise.co/2017/01/19/smartsheet-opening-boston-office-hiring-140-by-2018/ | accessdate=March 2, 2017}} The company was founded in the summer of 2005, shortly after co-founder Brent Frei sold his prior company, Onyx Software.{{cite web | last=Strauss | first=Karsten | title=Former Microsoft Analyst Wants To Disrupt MS Excel, Project | website=Forbes | date=March 12, 2013 | url=https://www.forbes.com/sites/karstenstrauss/2013/03/12/former-microsoft-analyst-wants-to-replace-ms-excel-project/ | accessdate=September 11, 2015}}{{cite web | last=Cook | first=John | title=Bellevue startup gets $2.69 million financing deal | website=seattlepi | publisher=Hearst Seattle Media | date=June 14, 2007 | url=http://www.seattlepi.com/news/article/Bellevue-startup-gets-2-69-million-financing-deal-1240729.php | accessdate=September 11, 2015}}{{cite news | last=Hack | first=Greg | title=Arena designer Populous also manages events inside | newspaper=The Kansas City Star | date=April 2, 2015 | url=http://www.kansascity.com/news/business/article17253335.html | accessdate=September 13, 2015}} Initially it was funded mostly by Frei. About a year after its founding, Smartsheet had raised $4 million in funding and had just nine employees. By early 2012 it had raised $8.2 million in funding over three rounds and hired its first salesperson. 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.

After the Smartsheet software was redesigned in 2010, the company's revenues grew by more than 100 percent each year, for four consecutive years.{{cite web | title=100 Best Companies to Work For 2014: Midsize Companies – Washington and Puget Sound Business News Source | website=Seattle Business Magazine | url=http://seattlebusinessmag.com//article/100-best-companies-work-2014-midsize-companies | accessdate=September 11, 2015|date=July 2014}} It raised $26 million in funding in December 2012{{cite web | last=Grant | first=Rebecca | title=Smartsheet gets $26M to keep enterprise workflow under control | website=VentureBeat | date=December 3, 2012 | url=https://venturebeat.com/2012/12/03/smartsheet-gets-26m-to-keep-enterprise-workflow-under-control/ | accessdate=September 11, 2015}}{{cite web|url=https://www.wsj.com/articles/DJFVW00020121203e8c3ar70h|title=Smartsheet Grabs $26M After 'De-Enterprising' its Collaboration Software|last=|first=|date=December 3, 2012|website=WSJ|url-access=subscription|archive-url=|archive-date=|accessdate=September 11, 2015}} and another $35 million in May 2014.{{cite web | last=Romano | first=Benjamin | title=Smartsheet Wins Big Customers, $35M From Sutter Hill Ventures | website=Xconomy | date=May 5, 2014 | url=http://www.xconomy.com/seattle/2014/05/05/smartsheet-wins-big-customers-35m-from-sutter-hill-ventures/ | accessdate=September 11, 2015}} In 2017, the company raised an additional $52.1 million in funding.{{cite web | title=Work management startup Smartsheet raises $52.1 million, claims a $852 valuation | website=VentureBeat | date=May 24, 2017 | url=https://venturebeat.com/2017/05/24/work-management-startup-smartsheet-raises-52-1-million-claims-a-852-valuation/ | access-date=June 1, 2017}} In 2018, it was announced that Smartsheet acquired Converse.AI, a Scotland-based company that develops software for creating business automation bots.{{cite web|title=Smartsheet acquires business automation chatbot startup Converse.AI {{!}} VentureBeat|url=https://venturebeat.com/2018/01/16/smartsheet-acquires-business-automation-chatbot-startup-converse-ai/|website=venturebeat.com|date=16 January 2018}}

The company began trading on the New York Stock Exchange on April 27, 2018.{{Cite news|url=https://www.cnbc.com/2018/04/27/smartsheet-smar-ipo-stock-makes-its-debut-on-nyse.html|title=Software company Smartsheet spikes in IPO|last=Novet|first=Jordan|date=27 April 2018|work=CNBC|access-date=27 April 2018}} In May 2019, Smartsheet announced it had acquired 10,000 ft, a SaaS platform that provides real-time resource and capacity planning.{{Cite web|url=https://www.seattlebusinessmag.com/technology/bellevues-smartsheet-acquires-seattle-tech-company-10000ft|title=Bellevue's Smartsheet Acquires Seattle Tech Company 10,000ft|date=2019-05-02|website=Seattle Business Magazine|language=en|access-date=2019-09-10}}

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.{{Cite news |title=Vista, Blackstone buying software maker Smartsheet for about $8.4 billion |url=https://apnews.com/article/smartsheet-vista-blackstone-federal-reserve-cb14fa4c22ff7ba5f5d143d058a84fa4 |last=Chapman |first=Michelle |date=2024-09-24 |work=Associated Press}} The acquisition was completed in January 2025.{{Cite web |last=Soper |first=Taylor |date=January 22, 2025 |title=Smartsheet officially goes private, completes acquisition by Blackstone and Vista Equity Partners |url=https://www.geekwire.com/2025/smartsheet-officially-goes-private-completes-acquisition-by-blackstone-and-vista-equity-partners/ |website=GeekWire}}