The company also announces the addition of notable investors and founders to its advisory board from Dropbox, Accel-KKR, Microsoft and a number of other unicorns
MADRID, 5TH MAY, 9AM CET: Sheetgo, the SaaS application that enables spreadsheet users to automate their work building workflows that collect, process, optimize and update data, announces that it has just completed a $2 million transaction to focus on increasing the commercial presence of its product and continue to scale its customer base.
With more than 3.5m downloads on Google Workspace Marketplace alone, Sheetgo helps managers to create simple, automated solutions by providing a single application that connects critical data from spreadsheets (Sheets, Excel and csv) found in Google, Microsoft and Dropbox environments. Sheetgo enables heads of department to innovate internally without needing intervention from IT departments or to integrate additional technology. Sheetgo can replace or complement other solutions such as CRM, ERP (management systems), or finance packages. It’s easy to use thanks to an intuitive interface for any user, even without programming or database knowledge, nor need for additional resources or specialized training.
Sheetgo’s newest investors Bewater Funds – sister company of Indexa Capital, who have more than $1.4 bn in assets under management – only invests in a handful of companies every year that meet strict requirements for capital efficiency, alongside long-term business sustainability and growth potential.
Following the company’s restructuring, Sheetgo will now focus on its ‘beyond spreadsheets‘ product release, a more customer-centric and proactive commercialization, third party security certification for its bigger clients base, and closer collaboration with its existing tech partners.
“This investment, along with a strict focus on operations, will get us into the necessary growth mode to tackle the underserved nocode market of the one billion Google Workspace and Microsoft Office users that need help to automate no code processes eliminating IT and engineering involvement”, says founder Yannick L. Rault van der Vaart.
“Bewater Funds and Sheetgo have forged a solid relationship over the years and as soon as Sheetgo met the ´Rule of 40´ – when a SaaS company’s growth rate and profit margin adds up to 40% or more – it was a no brainer decision to work together”, says serial founder François Derbaix, Co-Founder of Bewaterfunds and Indexa Capital, and known for successfully exiting three leading European tech companies.
Bewater Funds is joined by the following shareholders and advisors: Bharat Mediratta, ex CTO of Dropbox; Jason Kurtz, Senior Advisor of Accel-KKR and ex-executive of SAP Ariba; renowned Seattle based investor Rajeev Singh-Morales, co-founder of Alma Mundi Ventures; Mathias Björkholm founder of Pickit, which is Microsoft´s #1 downloaded software; Zvonimir Sabljic, who sold his company to Miro – now valued at $17.5 Billion; Meine Speinger, CEO & co-founder of Masmovil – now valued at $21 billion; Javier Ortega, Global VP of Sales at European ´unicorn´ Hopin – now valued at $7.75 Billion; and renowned Super Angel Andreas Mihalovits.
Sheetgo is an affordable, accessible no-code automation tool that creates custom workflows that start with a spreadsheet and use other everyday tools to automate entire business processes across almost every industry. As an alternative to complex and expensive SaaS, the platform allows users to save tons of resources otherwise spent on purchasing and training. Sheetgo allows businesses to streamline operations across multiple departments, not only saving them hours of time but also boosting their overall productivity and efficiency.
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