Cloud-Based Project Management And Collaboration Tool For The Enterprise, Smartsheet Raises $26M

Smartsheet, a company that develops a cloud-based collaboration tool for the enterprise, has raised $26 million from Insight Venture Partners and Madrona Venture Group. This brings the company’s total funding to over $30 million.

Smartsheet differs from other collaboration tools out there with its spreadsheet-inspired design. The UI is meant for users who spend a lot of time working with Excel and other spreadsheeting software. The idea is that users can actually collaborate around spreadsheets and this data.

Smartsheet can help manage projects from marketing campaigns to product launches, business operations, sales pipelines, strategic planning and HR initiatives. Smartsheet also offers pre-built templates and integrations with other cloud apps, including Google Drive, Box and Salesforce.

The company, which has more than a million users, counts HomeAway, DHL, Toshiba, ESPN, Sony Music, and MetLife as users.

The company will use the funding for sales and marketing, as well as partnerships.