Smartsheet Inc.
| Company type | Private |
|---|---|
| Industry | Software |
| Founded | 2005 |
| Founder | Brent Frei, Maria Colacurcio, Eric Brown |
| Headquarters | Bellevue, Washington , United States |
Key people | Mark Mader (CEO), Michael Gregoire (Chairman) |
| Products | Smartsheet software platform |
Number of employees | 3,330 (2024) |
Smartsheet Inc. is a privately owned American corporation based in Bellevue, Washington, specializing in the development and distribution of the Smartsheet software platform. Established in 2005 by Brent Frei, Maria Colacurcio, and Eric Brown, the firm secured an initial investment of $4 million within its first year and expanded its workforce to more than 3,000 employees by 2023. Frei, an experienced entrepreneur and founder, provided early financial backing after divesting from his former company, Onyx Software.
After undergoing a comprehensive software overhaul in 2010, Smartsheet achieved annual revenue growth rates exceeding 100% for four straight years. The company attracted several rounds of capital infusion, including $26 million in 2012, $35 million in 2014, and $52.1 million in 2017. Its product suite was broadened through strategic acquisitions such as the Scotland-based Converse.AI in 2018, which enhanced business automation functions, and the Seattle-based 10,000 ft in 2019, which introduced real-time resource and capacity management features.
In April 2018, Smartsheet completed its initial public offering on the New York Stock Exchange under the ticker symbol SMAR, marking a pivotal point in its financial trajectory and corporate development. In September 2024, private equity firms Vista Equity Partners and Blackstone Inc. announced an $8.4 billion cash acquisition of Smartsheet, finalized in January 2025, transitioning the company back into private ownership.
For fiscal year 2024, Smartsheet reported revenues totaling $958 million while recording operating losses of $120 million and net losses of $105 million. The company holds assets valued at $1.34 billion alongside equity amounting to $606 million and employs roughly 3,330 individuals. Leadership includes CEO Mark Mader and Chairman Michael Gregoire. Smartsheet’s business strategy centers on providing cloud-based collaborative software solutions to enterprise customers globally, utilizing targeted acquisitions and ongoing product enhancements to reinforce its position and competitive edge within the SaaS market.
Executive Team
- Mark P. Mader – President, Chief Executive Officer & Director
- Michael J. Arntz – Chief Revenue Officer
- Pete Godbole – Chief Financial Officer
- Jolene Marshall – Chief Legal Officer
- Andrew Bennett – Chief Marketing Officer
- Praerit Garg – Chief Product Officer and Executive Vice President of Engineering
- Stephen Branstetter – Chief Operating Officer