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April 26, 2019

AppSheet Secures $15M Series A Funding from Shasta Ventures and NEA

We announced yesterday that AppSheet has secured a new funding round. I wanted to share this good news with all of you and to emphasize what it means for us collectively.

AppSheet is first and foremost a customer-centric technology company. The purpose of our platform is to empower you (our customers) to create your own software solutions that drive productivity in your business. Compared to writing code, the AppSheet platform should give you orders of magnitude greater agility, feature richness, and cost savings.

A software startup like AppSheet has to navigate a challenging path from incubation to initial survival to subsequent growth. It needs to demonstrate that there is a market with a need, that it can build a product that fits the market need, that it can deliver that product to the customers in that market, and that those customers find it compelling enough to pay for the product at a price point that produces a viable business. Over five-plus years of work and with the commitment of all of our customers, we have been able to demonstrate this “product-market fit”. That is why our new investors have decided to make this new “scale-the-business” investment in our company.

For us, the goal of this investment is two-fold:

  • Support our existing customers better. Whether it is by adding features you have asked for, or by improving the scalability, performance, stability, performance of our service, or by staffing a dedicated customer success team — all of it requires resources on our side. We can now assign the resources to address those tasks (or at least, can soon, after we grow the team).

  • Acquire and support new customers and new customer scenarios. The more customers our platform supports and the more scenarios it supports, the better the platform becomes for everyone. This is because every feature requested by one customer also helps others, every bug fixed for one customer also is fixed for all the others, and every scenario relevant to one customer also adds to the platform intelligence for all the others.

As our team grows in size this year, we intend to fiercely maintain our customer-centric culture, and the no-code technology principles of our platform. I am excited about our opportunities to do better. I hope you will gradually see the effects of this investment in a better platform and in better customer service.

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