Madrid-based SaaS app Sheetgo, which processes from a spreadsheet, has announced that it has picked up $2 million in funding.
List of stellar investors
The investment came from new investors Bewater Funds, the sister company of Indexa Capital, with over $1.4 billion in assets under management.
It was joined by shareholders and advisors, including 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, who sold his company to Miro; Meine Speinger, CEO & co-founder of Masmovil; Javier Ortega, Global VP of Sales at European ´unicorn´ Hopin; and renowned Super Angel Andreas Mihalovits.
How will it use the funds?
Sheetgo will use the investment to bring a number of experienced members on the board. Also, a number of other major US-based investors joined the round and the board too.
As a part of the investment, the startup will continue to focus on increasing the commercial presence of its product and continue to scale its customer base.
“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”, said 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”, said serial founder François Derbaix, Co-Founder of Bewaterfunds and Indexa Capital, and known for successfully exiting three leading European tech companies.
No-code automation tool!
Sheetgo is the brainchild of serial founder Yannick Rault van der Vaart in Madrid. Since its debut, it has achieved over 3.5 million downloads on Google Workspace Marketplace to-date. 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.
Also, it will focus on its ‘beyond spreadsheets‘ product release, a more customer-centric and proactive commercialisation, third-party security certification for its bigger clients base, and closer collaboration with its existing tech partners.
How does it help users?
The startup 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. It can replace or complement other solutions such as CRM, ERP (management systems), or finance packages.
It is an alternative to complex and expensive SaaS platform, which 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.