Who Owns Smartsheet?
Smartsheet is owned by Smartsheet Inc., a private company controlled by Blackstone and Vista Equity Partners following an $8.4 billion buyout completed in January 2025. Founded in 2005 in Bellevue, Washington, the platform serves more than 100,000 customers with over $1 billion in annual recurring revenue. The brand was publicly traded on the NYSE under ticker SMAR from 2018 until the take-private.
Smartsheet Timeline
Who Owns Smartsheet?
- Parent Company: Smartsheet Inc.
- Ownership Type: Wholly owned
- Acquisition Year: 2025
- Company Type: Privately Held
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Smartsheet | Smartsheet Inc. | Wholly owned |
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History of Smartsheet
- Founded: 2005
- Founders: Brent Frei
- Acquired by Smartsheet Inc.: 2025
Brent Frei founded Smartsheet in 2005 in Bellevue after the sale of his earlier company Onyx Software. The first product was a complex project management tool that flopped, prompting a 2008 relaunch built around a simple spreadsheet interface anyone could use. That pivot defined the brand ever since: enterprise power hidden inside a familiar grid.
Mark Mader joined as CEO in 2006 and led the company for nearly 20 years. Smartsheet rode the SaaS wave through the 2010s, signing enterprises that wanted more governance than Trello or Asana offered. The April 2018 IPO on the NYSE valued the brand as a public SaaS growth story.
The brand expanded through acquisition: 10,000ft for resource management, Brandfolder for marketing asset management, and Outfit for document generation. By 2024 the platform passed $1 billion in annualized recurring revenue and claimed 85 percent of the Fortune 500.
Public-market years were kind to the brand's enterprise credentials. Crossing the $1 billion ARR mark put it in rare company among work management vendors, and the Fortune 500 penetration figure became its signature proof point in sales decks. Recognition from analyst firms, including repeated Leader placements in collaborative work management evaluations, reinforced the enterprise positioning through the 2018 to 2024 stretch.
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The September 2024 sale announcement, December shareholder approval, and January 2025 close ended the public chapter. Under private ownership the brand has been rebuilt around what the company calls Intelligent Work Management, weaving generative and agentic AI into planning, execution and reporting. Mark Mader retired in September 2025, and Rajeev Singh became CEO a month later.
The brand's enterprise identity hardened during the public years. What started as a friendly alternative to Microsoft Project became a governed platform with admin controls, compliance certifications and portfolio-level oversight that large organizations require. That repositioning toward the enterprise, more than any feature, is what made it attractive to private equity buyers looking for sticky revenue.
About Smartsheet Inc.
Who owns Smartsheet now?
Smartsheet is owned by funds managed by Blackstone and Vista Equity Partners, which completed an $8.4 billion acquisition on January 22, 2025. The company is private and no longer trades on the NYSE.
Is Smartsheet still a public company?
No. Smartsheet was delisted from the New York Stock Exchange when the take-private deal closed in January 2025. It previously traded under ticker SMAR from 2018 to 2025.
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Who is the CEO of Smartsheet?
Rajeev Singh became CEO in October 2025. He succeeded interim CEO Sunny Gupta, who remains executive chair, and longtime CEO Mark Mader, who retired in September 2025.
How much revenue does Smartsheet make?
Smartsheet generated more than $1.1 billion in annualized recurring revenue as of its last public reporting, and as a private company it reports revenue above $1 billion annually with 100,000-plus customers.
Where is Smartsheet headquartered?
Smartsheet is headquartered in Bellevue, Washington, in the Seattle metropolitan area, where it was founded in 2005.
What does Smartsheet do?
Smartsheet sells a cloud platform for enterprise work management: project tracking, automation, dashboards, resource management and AI-assisted planning, presented in a familiar spreadsheet-style interface.
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- Founded: 2005
- Headquarters: Bellevue, Washington, USA
- Company Type: Privately Held
- Revenue: More than $1 billion ARR (private company, 2025)
- Employees: Approximately 3,300
Where Is Smartsheet Made / Based?
- Headquarters: Bellevue, Washington, USA
Smartsheet Categories & Tags
Smartsheet Ownership: Pros & Cons
Advantages
- +Private ownership frees the brand to rebuild around AI without quarterly earnings scrutiny
- +Blackstone and Vista provide capital for acquisitions and international growth
- +Enterprise-grade reputation with 85 percent of the Fortune 500 protects renewal rates
Considerations
- -Leveraged buyout debt adds fixed obligations the public-era brand did not carry
- -Private equity owners will eventually seek an exit through a re-IPO or sale
- -Rapid leadership turnover in 2025 created a transition period for the brand's direction
Sources & Further Reading
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Competitors to Smartsheet
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Box | USA | 2005 | Premium | Global | All Genders | |
| Cisco | USA | 1995 | Enterprise | Global | All Genders | |
| Symphony Technology Group | USA | 2006 | Premium | Global | All Genders | |
| Dropbox | USA | 2007 | Mass market | Global | All Genders | |
| Oracle | USA | 1977 | Mass market | Global | All Genders | |
| Salesforce | USA | 2000 | Market leader | Global | All Genders |
Learn More About Competitors
Technology SoftwareBox
Owned by Box, Inc.
Enterprise cloud content management platform founded in 2005, serving more than 100,000 paying organizations from Redwood City, California.
cloud-storageenterprise-softwarecontent-management
Technology SoftwareWebex
Owned by Cisco Systems, Inc.
Webex is Cisco's collaboration brand covering meetings, calling, contact center, and devices, acquired for $3.2 billion in 2007.
video-conferencingcollaborationsaas
Technology SoftwareWrike
Owned by Symphony Technology Group
Cloud-based collaborative work management platform for managing projects, deadlines, schedules, and workflow processes. Owned by Symphony Technology Group.
project-managementcollaborationworkflow-management
Technology SoftwareDropbox
Owned by Dropbox
Cloud storage and file synchronization service founded in 2007, serving 18 million paying users and more than 700 million registered accounts.
cloud-storagefile-syncfile-sharing
Technology SoftwareOracle
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Corporate brand of Oracle Corporation, the Austin-based enterprise software and cloud infrastructure company founded in 1977, with FY2026 revenue of $67.4 billion.
enterprise-softwareclouddatabase
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Sales automation and CRM application of Salesforce, Inc. (NYSE: CRM), providing lead management, opportunity tracking, forecasting, and AI-powered selling tools.
crmsales-softwaresaas
Competitive Analysis
Market Positioning: Smartsheet competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Independent Alternatives to Smartsheet
Looking for brands with different ownership structures? These similar brands are not owned by Smartsheet Inc., giving you alternative choices that support different corporate structures.
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social-mediasocial-media-managementsaas
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AI-powered customer platform and CRM for mid-market businesses, developed and owned by HubSpot, Inc. of Cambridge, Massachusetts, a public company on the NYSE.
crmmarketing-automationsaas
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erpopen-sourcebusiness-software
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payrollhcmhr-software
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Paycom operates independently without a large parent corporation.
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