Empowering teams to create custom workflows from a spreadsheet, Sheetgo has just secured over €1.88 million in fresh funding. Headquartered in Valencia, the startup’s SaaS application enables teams to collect, manage and share data all from a spreadsheet – shaking up the humble tool.
Leading the funding is Bewater Funds, sister company of Indexa Capital, who only invest in companies who meet strict requirements for capital efficiency, alongside long-term business sustainability and growth potential – reflecting great promise in the Spanish startup for the future.
There are very few teams who don’t collaborate on spreadsheets at some point. It’s a universal tool that’s became an indispensable part of business practice, but there’s always been a drawback. A lack of collaboration and automation. 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.
Founded in 2016, Sheetgo enables heads of department to innovate internally without needing intervention from IT departments or to integrate additional technology. The tool can also replace or complement other data solutions, such as CRMs, ERPs 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.
With the new funding boost, Sheetgo plan to increase the commercial presence of its product and continue to scale its customer base. In addition, the company is focusing on a ‘beyond spreadsheets’ product release – a more more customer-centric and proactive commercialization, third party security certification for its bigger clients base, and closer collaboration with its existing tech partners.
Founder Yannick L. Rault van der Vaart, commented: “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.”
François Derbaix, Co-Founder of Bewaterfunds and Indexa Capital added: “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”.
Joining the funding are 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, Zvonimir Sabljic, Meine Speinger, CEO & co-founder of Masmovil, Javier Ortega, Global VP of Sales at European ´unicorn´ Hopin and renowned Super Angel Andreas Mihalovits.
