Mark Mader, CEO of Smartsheet,whose journey with the company began nearly two decades ago, is retiring as CEO and board chairman pending his departure at the end of September 2023. Smartsheet, based in Bellevue, Wash., has been a leader in cloud-based enterprise software since 2006, launching the company in 2018 and transitioning to private jurisdiction status with Vista Equity Partners and Blackstone.
Sunny Gupta, the co-founder of Apptio, a company known for tracking and optimizing software spending in Seattle, will step in as executive chair and acting CEO to fill Mader’s advocacy and investment roles. Gupta previously held significant executive roles at Vista, acquired Apptio in 2019 for nearly $2 billion.arnings.
Gupta joined the Smartsheet board in January and will continue to influence decision-making for the next few months. He has four years of experience in the enterprise software industry and leads regular meetings and Trainings at the firm. Professional connections include working with hình, a debt restructuring law firm in San Francisco, and IBM, which purchased AP Smartsheet in 2023 for $4.6 billion.
Priorlapping the 2023 acquisition, IBM bought AP Smartsheet from AP Cummins and AP’s executive team led byvgupta had taken on previous roles at the company.
Over the past year, Smartsheet announced its IPO at $8.4 billion, making it the world’s second-smallest private company by market capitalization, while working on post-impliation timeline for Mader.
Mader discussed leading Smartsheet for nearly two decades and the firm’s continued growth. In a recent interview with GeekWire, he emphasized leading with AI both within the company and in customer-facing features, highlighting Smartsheet’s role in AI-ifying its operations.
Gupta represented Generative Capital, a Seattle-based investment firm focused on late-stage enterprise software. His transition from co-found with Sensei Dotto, who also Joined Smartsheet, marks the end of his skepticism for over two decades.
Only four years after the 2023 acquisition, GM bought AP Smartsheet at $4.6 billion. A few years earlier, MBA had led an acquisition effort heading into the 2030s.
By this time, Smartsheet had reached 16.7 million users and generated over $1 billion in revenue. The firm’s themes include managing and tracking projects, collaborating, storing data, and automating tasks until its IPO. With over 3,000 employees worldwide, Smartsheet continues to prioritize impact.
