Smartsheet Inc. (SMAR): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how teams manage complex projects with ease and stay on top of their work? Smartsheet Inc. (SMAR), a leading cloud-based platform for work execution, empowers organizations to plan, capture, manage, automate, and report on work at scale, resulting in more efficient processes and better business outcomes. With over 85% of the 2024 Fortune 500 companies trusting this platform, what makes it so special? Keep reading to discover the history, ownership, mission, and how it works and makes money.

Smartsheet Inc. (SMAR) History

Smartsheet Inc.'s Founding Timeline

Year established

The company was established in 2005.

Original location

The company was originally located in Seattle, Washington.

Founding team members

The founding team members included:

• Brent Frei
• Maria Macijeski
• John Creason

Initial capital/funding

The initial funding for the company came from angel investors, totaling approximately $4.6 million in 2006.

Smartsheet Inc.'s Evolution Milestones

Smartsheet Inc.'s Transformative Moments

• Focus on Collaboration: A key transformative moment was the strategic emphasis on collaboration features. This focus enhanced team productivity and broadened the platform's appeal across various industries.
• Strategic Acquisitions: The acquisitions of companies like Slope and Brandfolder have expanded the company's offerings, providing users with more comprehensive tools for managing projects and digital assets.
• Shift to Cloud-Based Platform: Transitioning to a cloud-based platform allowed the company to offer scalable and accessible solutions, crucial for attracting a global user base and supporting remote work environments.
• Initial Public Offering (IPO): The IPO in 2018 was a transformative event, providing significant capital and increasing the company's visibility and credibility in the market.

To gain more insights into the financial aspects and investor profiles, explore this resource: Exploring Smartsheet Inc. (SMAR) Investor Profile: Who’s Buying and Why?

Smartsheet Inc. (SMAR) Ownership Structure

Smartsheet Inc. features a mixed ownership structure, encompassing public shareholders, institutional investors, and company insiders. Understanding this structure provides insights into the company's governance and strategic direction.

Smartsheet Inc.'s Current Status

Smartsheet Inc. is a publicly traded company, listed on the New York Stock Exchange (NYSE) under the ticker symbol SMAR. This means that its shares are available for purchase by the general public.

Smartsheet Inc.'s Ownership Breakdown

The ownership of Smartsheet Inc. is distributed among various types of shareholders. Here's an overview:

Please note that the ownership percentages can fluctuate due to ongoing transactions in the stock market.

Smartsheet Inc.'s Leadership

The leadership team is responsible for the strategic direction and operational management of the company. Key members of the leadership team as of April 2025 include:

• Mark J. Mader: Chairman and Chief Executive Officer
• Jennifer Ceran: Chief Financial Officer
• Dennis Durkin: President

For more insights into the investor profile, you can check out: Exploring Smartsheet Inc. (SMAR) Investor Profile: Who’s Buying and Why?

Smartsheet Inc. (SMAR) Mission and Values

Smartsheet's mission is to empower teams to achieve more, and its values reflect a commitment to innovation, customer success, and a collaborative culture.

Smartsheet Inc.'s Core Purpose

Official mission statement

Smartsheet's official mission statement is: 'Empower anyone to drive meaningful change.'

• Smartsheet aims to provide a platform that enables individuals and teams to effectively manage and automate work, leading to significant improvements and impact within their organizations.
• The company focuses on delivering solutions that are accessible and user-friendly, ensuring that anyone, regardless of their technical expertise, can leverage the platform to achieve their goals.

Vision statement

While a specific, formally declared vision statement is not explicitly available, Smartsheet's aspirations can be inferred from their strategic objectives and company communications.

• To be the leading platform for dynamic work, enabling organizations of all sizes to plan, capture, manage, automate, and report on work at scale.
• To create a world where anyone can improve their work processes and outcomes through collaborative, easy-to-use technology.

Company slogan/tagline

Smartsheet's tagline is 'Work Without Limits.'

• This tagline encapsulates the company's commitment to providing a flexible and scalable platform that can adapt to the diverse needs of its users.
• It reflects the idea that Smartsheet empowers teams to overcome traditional barriers to productivity and achieve their full potential, regardless of their location, industry, or organizational structure.

To learn more about the investors of Smartsheet, read: Exploring Smartsheet Inc. (SMAR) Investor Profile: Who’s Buying and Why?

Smartsheet Inc. (SMAR) How It Works

Smartsheet Inc. provides a cloud-based platform for work management, enabling teams and organizations to plan, track, automate, and report on work. It blends the accessibility of a spreadsheet with robust project management features to enhance collaboration and efficiency.

Smartsheet Inc.'s Product/Service Portfolio

Smartsheet Inc.'s Operational Framework

Smartsheet's operational framework revolves around delivering a versatile platform that adapts to various work management needs. Key aspects include:

• Cloud-Based Infrastructure: Smartsheet leverages a secure and scalable cloud infrastructure to ensure accessibility and reliability for users globally.
• Subscription Model: The company primarily operates on a subscription-based revenue model, offering different tiers to cater to varying customer needs and usage levels.
• Customer Support and Training: Smartsheet provides extensive customer support resources, including online documentation, training programs, and direct support channels, ensuring users can effectively utilize the platform.
• Continuous Development: Smartsheet invests significantly in research and development to continually enhance its platform with new features, integrations, and improvements based on user feedback and market trends.

Smartsheet Inc.'s Strategic Advantages

Smartsheet's success is underpinned by several strategic advantages:

• Versatility and Adaptability: Smartsheet's flexible platform can be customized to suit a wide range of project management and workflow needs across diverse industries.
• User-Friendly Interface: Its intuitive, spreadsheet-like interface reduces the learning curve, making it accessible to users with varying levels of technical expertise.
• Strong Integration Ecosystem: Smartsheet integrates with popular business applications such as Microsoft Office 365, Google Workspace, Salesforce, and others, enhancing its utility and connectivity.
• Scalability: The platform can scale to accommodate both small teams and large enterprises, making it a viable solution for organizations at different stages of growth.
• Focus on Collaboration: Smartsheet's real-time collaboration features enable teams to work together efficiently, regardless of location, improving productivity and outcomes.

To gain more insights into the ownership and investor profile of Smartsheet, explore this resource: Exploring Smartsheet Inc. (SMAR) Investor Profile: Who’s Buying and Why?

Smartsheet Inc. (SMAR) How It Makes Money

Smartsheet primarily generates revenue through its cloud-based platform, which offers subscription-based services for work management and collaboration.

Smartsheet's Revenue Breakdown

Smartsheet's Business Economics

Smartsheet's business economics are primarily driven by its subscription model, focusing on recurring revenue from its cloud-based platform. Here are key aspects:

• Subscription Model: The company offers various subscription plans tailored to different user needs, which ensures a steady stream of income.
• Scalability: As a cloud-based platform, Smartsheet can efficiently scale its services to accommodate a growing user base without significant infrastructure costs.
• Customer Retention: A strong emphasis on customer success and satisfaction helps maintain high retention rates, contributing to long-term revenue stability.
• Pricing Strategy: Smartsheet employs a tiered pricing strategy, offering different levels of features and support to attract a wide range of customers, from small businesses to large enterprises.
• Expansion Opportunities: Continuous development of new features and integrations provides opportunities to upsell existing customers and attract new ones.

To learn more about the company's goals, check this link: Mission Statement, Vision, & Core Values of Smartsheet Inc. (SMAR).

Smartsheet's Financial Performance

Smartsheet's financial performance can be assessed through the following key points:

• Consistent Revenue Growth: Smartsheet has demonstrated consistent year-over-year revenue growth, driven by increased adoption of its platform. For the fiscal year 2024, Smartsheet's total revenue was $960.3 million, representing a 21% increase year-over-year.
• Gross Margin: The company maintains a healthy gross margin, reflecting efficient cost management and the scalability of its cloud-based services. Smartsheet's gross margin for fiscal year 2024 was approximately 80%.
• Operating Expenses: While investing in sales, marketing, and research & development, Smartsheet is focused on managing its operating expenses to improve profitability. In fiscal year 2024, operating expenses were $833.2 million.
• Net Loss: Smartsheet has been working toward profitability. The net loss for fiscal year 2024 was $107.4 million.
• Cash Flow: The company's cash flow from operations remains positive, indicating its ability to generate cash from its core business activities. Smartsheet's net cash provided by operating activities for fiscal year 2024 was $175.9 million.

Smartsheet Inc. (SMAR) Market Position & Future Outlook

Smartsheet is strategically positioned in the collaborative work management (CWM) market, showing potential for future growth driven by digital transformation and remote work trends. The company aims to leverage its platform to enhance productivity and collaboration for organizations.

Competitive Landscape

Opportunities & Challenges

Industry Position

Smartsheet holds a significant position in the collaborative work management (CWM) sector. Key aspects of its industry standing include:

• Market presence: Recognized as a leader in CWM, offering a versatile platform.
• Customer base: Serves a diverse range of industries, from small businesses to large enterprises.
• Technological innovation: Continues to invest in platform enhancements, including AI and automation.
• Strategic partnerships: Actively forges alliances to expand its ecosystem and market reach.

For more in-depth insights into Smartsheet's investor profile, read: Exploring Smartsheet Inc. (SMAR) Investor Profile: Who’s Buying and Why?