smartsheetlogo Smartsheet raises $1.25 million in Series B

Bellevue, Washington based work management tool provider, Smartsheet, has raised $1.25 million in the second round of funding. The round was led by Madrona Venture Group and was participated by the company’s executive chairman Brent Frei. The site contains over 65,000 users in more than 30 countries.

According to Smartsheet’s CEO, Brent Frei:

There’s no better investment in today’s economy than in your own team. And, there’s no better time to invest in productivity tools that have been proven to help companies of any type do more with less. We’ve woven a tight fabric of task management, file sharing, discussions and in the near future — crowdsourcing, into one elegant service. Given these times when knowledge workers need to do more with less, people are looking for a cost effective edge to managing and executing work. We’re in the right place at the right time.