GRID, an Iceland-based Software-as-a-Service (SaaS) platform, announced on Wednesday it raised $12 million through its Series A funding round, which was led by New Enterprise Associates (NEA), with participation from existing investors BlueYard Capital, Slack Fund, Acequia Capital and other strategic partners.
Founded in 2018, GRID claims it gives spreadsheets “wings” with its user-friendly software empowers people to turn any spreadsheet into a “beautiful” web report, dashboard, or interactive application. The company is on a mission to revolutionize the way people work with data and numbers.
“GRID is the new face of spreadsheets, empowering anyone to turn their workbooks into beautiful, interactive web content-leveraging existing skills and assets-and then securely share with their colleagues.”
The Series A funds will be used to bring its product to market and will power accelerated product development. Speaking about the company’s growth and investment round, Hjalmar Gislason, CEO and founder of GRID, stated:
“The key is to understand and leverage the ways people already work rather than introducing something completely new that interrupts existing workflows and requires people to rebuild what’s already working for them. We’re thrilled to have NEA joining us in delivering on this vision and are convinced that they are the best possible partner for us on this journey.”
Forest Baskett, General Partner at NEA, concluded:
“GRID has entered the market as a company that can not only augment and improve upon spreadsheets but also build a stand-alone, defensible business. We have similar excitement around GRID’s tremendous potential and look forward to working with the team as they propel the go-to-market and reinvent the way users interact with spreadsheets.”