alarm:clock

Enterprise Software - Thursday, June 14, 2007

Biz Productivity's SmartSheet Sees A Better Excel

Business productivity apps are suddenly of interest to investors. For years, Microsoft had destroyed this vein, however, Google and Web 2.0 techniques have given business productivity apps new life. Earlier in the week we posted on funding for Hong Kong's SmartGrid, which makes a Web-based spreadsheet. Today, Bellevue, WA's SmartSheet has raised $2.69M in Series A-4 funding led by Madrona Venture Group, according to a regulatory filing, picked up by PeWire.

We recently posted on SmartSheet here when it won a best of show award for business 2.0 and had let us know that they had raised a round of angel funding and were making the VC rounds. As indicated, we think the company has what it takes to raise an strong round. This is not a piece of functionality masquerading as a real company. SmartSheet has a strong management team, many of whom came from Onyx Software. The product gets favorable reviews and has plenty of functions, which are growing by the month. And pricing ranges from free to $150 (if you are a storage pig.) The one downside that we can see is that the software is important enough that as a buyer we would want to make sure that the company is stable.

View - site