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Smartsheet

SoftwareFounded 2005
Reviewed by Swet Parvadiya
Company data updated: October 2026
Independent Editorial Analysis
10 historical events · Editorial analysis

Smartsheet Company Profile: Revenue, Business Model & Strategy

Research depth: 10 milestones · 9 FAQs

Smartsheet is a private work management software company in Bellevue, Washington, owned by funds managed by Blackstone and Vista Equity Partners since a roughly $8.4 billion take-private closed in January 2025.

How Smartsheet makes money: Smartsheet sells software subscriptions. Customers pay per user on tiered plans (Pro, Business, Enterprise) and can add premium capabilities such as Control Center, Dynamic View, Data Shuttle, Bridge, Resource…

Revenue & employeesCEO historyFoundersBusiness model
Annual Revenue (FY2024)$958.3M
Employees3,300
CEORajeev Singh
Founded2005
IndustrySoftware
By Swet ParvadiyaLast reviewed:
Share
Data sources: annual reports, SEC filings, methodology
Industry:Software

Smartsheet key figures

Smartsheet had revenue of $958.3M for fiscal year 2024, up 25.0% from FY2023. Net loss was $104.6M, a net margin of -10.9%.

Source: Smartsheet Inc. annual report (Form 10-K, SEC EDGAR, filed 2024-03-20) · Last reviewed October 2026

Revenue growth, FY2017 to FY2024
+46.3% a year
Compound annual rate, $67M to $958.3M
Peak revenue year
FY2024
The latest annual year is the highest in this series
Revenue per employee
$290,405
FY2024 revenue divided by 3,300 employees; headcount may use another date
Current chief executive
Rajeev Singh
In the role since 2025 (1 year)
Documented transactions
3
Between 2018 and 2020
Founded
2005
21 years ago
Where was Smartsheet founded?
Smartsheet was founded in Bellevue, Washington, United States in 2005.
When did Smartsheet start?
Smartsheet was founded in 2005.
How old is Smartsheet?
Smartsheet is 21 years old as of 2026.
In-Depth Analysis
305 words · 2 min read

What Smartsheet does

Smartsheet, based in Bellevue, Washington, makes work management software built around a spreadsheet-style grid. Teams use it to plan projects, automate approvals and roll up status into dashboards, with Gantt, card and calendar views of the same data. Premium capabilities include Control Center for provisioning standardized projects, Dynamic View for restricted sharing, Data Shuttle for moving data in and out of other systems, Resource Management (from the 2019 10,000ft deal) and Brandfolder digital asset management (bought in 2020 for about $155 million).

Growth as a public company

Founded in 2005 by Onyx Software founder Brent Frei and a small team, with Mark Mader as CEO from 2006, Smartsheet went public on the NYSE in April 2018 at $15 per share. Revenue climbed from $111.3 million in fiscal 2018 to $958.3 million in fiscal 2024, and the company passed $1 billion in ARR that year. It never posted a full-year GAAP profit as a public company: the fiscal 2024 net loss was $104.6 million.

The $8.4 billion take-private

On September 24, 2024, Smartsheet agreed to be acquired by funds managed by Blackstone and Vista Equity Partners for $56.50 per share in cash, about $8.4 billion. In its final reported quarter, Q3 fiscal 2025, revenue grew 17% to $286.9 million and ARR grew 15%. The deal closed on January 22, 2025, and the SMAR shares were delisted.

New leadership and AI push

Mark Mader retired at the end of September 2025. Apptio co-founder Sunny Gupta served as acting CEO before Concur co-founder Rajeev Singh took over on October 6, 2025. Singh has cut staff in two rounds, rebuilt the C-suite in 2026 and repositioned the product as Intelligent Work Management, with AI agents announced at ENGAGE in November 2025. Smartsheet competes with Monday.com, Asana, Airtable, ClickUp, Wrike, Atlassian and Microsoft.

Table of Contents

Smartsheet Key Facts

CompanySmartsheet
Annual revenue change+25.0% (FY2023–FY2024)
Financials$958.3M (FY2024, last reviewed October 2026)
Market Cap$8.4B
FY2024 net incomeloss $104.6M
Last reviewedBy Swet Parvadiya, Founder & Editor - October 2026
Founded2005
Founder(s)Brent Frei, Mark Mader, Eric Browne, John Creason
CEORajeev Singh
HeadquartersBellevue, Washington, USA
IndustrySoftware
Employees3,300+
TickerSMAR

Smartsheet Company Profile: Revenue, Business Model & Strategy

"What most people miss about Smartsheet is the sheer scale of conflict it survived to become Software."

Smartsheet is a private work management software company in Bellevue, Washington, owned by funds managed by Blackstone and Vista Equity Partners since a roughly $8.4 billion take-private closed in January 2025. Its last full public fiscal year (FY2024) brought $958.3 million in revenue, and Rajeev Singh has been CEO since October 2025.

Revenue

$958.3M

Founded

2005

Employees

3K+

Market Cap

$8.4B

Author: CorpDigest Research DeskCompany Research

Explore Smartsheet In Depth

Detailed research across every dimension of Smartsheet — history, financials, leadership, and strategy.

Company History

Smartsheet builds work management software that looks like a spreadsheet but behaves like a shared database, with Gantt, card, calendar and dashboard views, automated workflows and portfolio reporting.

Full Smartsheet history →

Revenue & Financials

Smartsheet had $958.3M in revenue for fiscal year 2024. Data covers 8 fiscal years. Market capitalization stands at approximately $8B.

Smartsheet financials →

Founders

Smartsheet was founded by Brent Frei, Mark Mader, Eric Browne, John Creason in 2005. Explore each founder's background, motivations, and their role in building the company.

Smartsheet founders →

CEO & Leadership

Smartsheet is currently led by Rajeev Singh. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.

Smartsheet CEO history →

Business Model

Smartsheet sells software subscriptions. Customers pay per user on tiered plans (Pro, Business, Enterprise) and can add premium capabilities such as Control Center, Dynamic View, Data Shuttle, Bridge, Resource…

How Smartsheet makes money →

Acquisitions

Smartsheet has completed 3 documented acquisitions. Explore the full acquisition history and strategic rationale behind each deal.

Smartsheet acquisitions →

Competitive Strategy

Under CEO Rajeev Singh, Smartsheet is focusing on enterprise AI: the November 2025 ENGAGE launch added AI agents and data features to the platform.

Smartsheet strategy →

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CorpDigest Research Desk

 Research Profile

Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.

About the Author →Our Methodology →

Frequently Asked Questions About Smartsheet

What is Smartsheet?

Smartsheet is a work management software platform based in Bellevue, Washington, that combines a spreadsheet-style grid with Gantt, card and calendar views, automation, dashboards and portfolio reporting.

Who owns Smartsheet?

Smartsheet is privately owned by funds managed by Blackstone and Vista Equity Partners, which bought it for about $8.4 billion ($56.50 per share) in a deal that closed on January 22, 2025.

Who is the CEO of Smartsheet?

Rajeev Singh has been CEO since October 6, 2025. He co-founded Concur and later led Accolade. He succeeded acting CEO Sunny Gupta, who took over when Mark Mader retired at the end of September 2025.

How does Smartsheet make money?

Mainly from per-user software subscriptions and premium add-ons. Subscriptions were about 95% of revenue in Q3 fiscal 2025, with professional services making up the rest.

How much revenue does Smartsheet make?

Smartsheet reported $958.3 million in revenue for fiscal 2024 and passed $1 billion in ARR that year. As a private company it no longer discloses results.

Is Smartsheet stock still traded?

No. SMAR was delisted from the NYSE when the Blackstone and Vista acquisition closed in January 2025.

Is Smartsheet basically Excel?

While it initially looks like a spreadsheet, Smartsheet is actually a massive relational project management database that automates workflows, assigns tasks, and tracks enterprise-level projects across thousands of employees.

Who founded Smartsheet?

Smartsheet was founded in 2005 by Brent Frei, John Creason, Maria Colacurcio, and Eric Browne, but they famously had to completely rewrite the entire software in 2010 after initial adoption was terrible.

Analysis: How Smartsheet Makes Money

Deep dive into the Smartsheet business model, revenue streams, and strategic moats in 2026.

Competitor Benchmarking

Smartsheet vs Asana, Inc.Smartsheet vs monday.comSmartsheet vs Airtable

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Financial data on this page is sourced from SEC EDGAR filings, official earnings releases, and verified press statements. Revenue figures are reviewed and updated periodically. Read our full data methodology ->

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Editorial Methodology

Company Research

We use company filings, annual reports, company statements and press reports, with primary sources preferred where available. Each financial row shows its recorded source. Full-year figures are separated from annualized run-rates, partial periods and forecasts; unaudited figures carry a label. Source detail varies by company, so check the linked material when the reporting basis matters.

1. Primary Sources

Public companies may provide filings and annual reports. Private-company figures may come from statements or press coverage. A missing figure stays missing, and a source link should identify where its number came from.

2. Expert Curation

We organize company records and review claims for strategic context, source quality and clarity. Pages show a review date where one is recorded.

3. Multi-Pass Audit

Technical checks flag inconsistent figures and missing links. Editorial review of the underlying source remains necessary for claims those checks cannot verify.

Swet Parvadiya
SEC filings & public records methodology
Sourced from public financial records

Explore Related Pages for Smartsheet

History & FailuresTimeline, setbacks, and key milestonesBusiness ModelHow they make money and market productsFinancialsRevenue history and fiscal metricsCompetitive StrategyRivals, benchmarks, and SWOT analysis

Sources & References

The data and narrative synthesized in this intelligence report were verified against primary sources:

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.