IPO • Internet Software and Services

Insight Partners and Summit Partners Exits Smartsheet

On April 26, 2018, invested in internet software and services company Smartsheet from Insight Partners and Summit Partners

Investment Context
  • This is transaction in the Internet Software and Services sector.
  • This is transaction in the United States.
  • This is transaction in Washington.
Investment Fate
  • Smartsheet was sold to a consortium of financial buyers in 2024 for 8.4B USD.

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Investment Summary

Date April 26, 2018
Target Smartsheet
Sector Internet Software and Services
Sellers(s) Insight Partners
Summit Partners
Deal Type IPO

Target Company

Smartsheet

Bellevue, Washington, United States
Smartsheet is a cloud‑based work management platform designed to help teams plan, track, automate, and report on work across projects and workflows. The Company offers a no‑code platform that integrates with existing systems and scales from individual teams to enterprise portfolios. Smartsheet was founded in 2005 and is based in Bellevue, Washington.
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Seller Profiles 2

SELLER

Insight Partners

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1995
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Insight Partners is a growth capital investment firm focused on early to later stage investments principally in the software sector. Insight Partners was formed in 1995 and is based in New York, New York.


Deal Context for Seller #
Overall 8 of 48
Sector: Internet Software and Services 3 of 14
Type: IPO 3 of 6
State: Washington 1 of 1
Country: United States 8 of 41
Year: 2018 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-19 Detectify

Stockholm, Sweden

Detectify is a web application security field, offering an automated vulnerability scanning service to help developers and security teams keep up with threats. The company’s network of white-hat hackers allows customers to access cutting-edge security research and scan their websites for the latest vulnerabilities. Detectify was founded in 2013 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-30 AMCS

Limerick, Ireland

AMCS supplies integrated software and vehicle technology for the waste, recycling, and material resources industries. AMCS Platform is a suite of best-in-class SaaS solutions that includes industry-specific enterprise management software, intelligent optimization, mobile workforce, vehicle technology, digital engagement, and analytics solutions, which delivers digital innovation to the emerging circular economy worldwide. AMCS was founded in 2003 and is based in Limerick, Ireland.

Buy -
SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


Deal Context for Seller #
Overall 224 of 298
Sector: Internet Software and Services 15 of 31
Type: IPO 67 of 74
State: Washington 3 of 4
Country: United States 202 of 258
Year: 2018 4 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-23 Sound Physicians

Nashville, Tennessee, United States

Sound Physicians is a physician-founded and led organization providing services across the acute episode of care - through emergency medicine, critical care, hospital medicine, transitional care and advisory services. Sound Physicians was founded in 2001 and is based in Nashville, Tennessee.

Buy $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 Avast

Prague, Czech Republic

Avast develops avast! Free Antivirus, a free full-featured computer security application that protects more than 150 million registered users around the world from online threats. The company’s products are distributed globally through a unique ‘freemium’ business model. Avast was formed in1988 and is based in Prague, Czech Republic.

Sell -