So Smartsheet is the quiet giant in the productivity space
Asana, Trello, Monday, Airtable, etc. perhaps get more attention
But Smartsheet is at $400m ARR (!) growing a stunning 42% year-over-year!!
5 Interesting Learnings: ⬇️⬇️⬇️⬇️⬇️
Asana, Trello, Monday, Airtable, etc. perhaps get more attention
But Smartsheet is at $400m ARR (!) growing a stunning 42% year-over-year!!
5 Interesting Learnings: ⬇️⬇️⬇️⬇️⬇️
#1. Very High NRR from SMBs. Smartsheet has a very impressive 123% NRR from SMBs.
They also nicely segment NRR by deal size, so you can see NRR grows to 140% from their largest enterprise customers:
They also nicely segment NRR by deal size, so you can see NRR grows to 140% from their largest enterprise customers:
#2. Driving deal size up accounts for a >lot< of their growth at scale.
Smartsheet has aggressively driven its ACV up from $3,643 in 2020 to $5,103 today. That’s a lot — 40% higher average deal sizes. This just about equals their ARR growth.
Smartsheet has aggressively driven its ACV up from $3,643 in 2020 to $5,103 today. That’s a lot — 40% higher average deal sizes. This just about equals their ARR growth.
#3. 90% of customers pay annually — even SMBs
This is an interesting contrast to Zoom, which has seen its monthly invoicing grow to 50% of its $4B+ in ARR
It just shows perhaps there is no standard answer to how often SMBs should pay
This is an interesting contrast to Zoom, which has seen its monthly invoicing grow to 50% of its $4B+ in ARR
It just shows perhaps there is no standard answer to how often SMBs should pay
#4. Their biggest customers are fueling the most growth. But that's new-ish.
Smartsheet, like PagerDuty, Asana, etc. waited a while to go “more enterprise”, but then leaned in
At IPO, Smartsheet was all about SMBs. Today, its fastest-growing customers are $100k+ deals:
Smartsheet, like PagerDuty, Asana, etc. waited a while to go “more enterprise”, but then leaned in
At IPO, Smartsheet was all about SMBs. Today, its fastest-growing customers are $100k+ deals:
#5. A big bet on $500k+ deals
Smartsheet’s next push is $500k+ deals at 10,000+ employee customers
The overall productivity space has plenty of room here, but it’s a different pace & feature set & it will be interesting to watch Smartsheet’s progress on the way to $1B in ARR.
Smartsheet’s next push is $500k+ deals at 10,000+ employee customers
The overall productivity space has plenty of room here, but it’s a different pace & feature set & it will be interesting to watch Smartsheet’s progress on the way to $1B in ARR.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
