At its annual ENGAGE conference, Smartsheet introduced a range of new features and design changes, the most significant being an integration with Amazon Q Business. This marks the first major redesign of Smartsheet in a decade, coming at a time when the company announced an $8.4 billion buyout deal with Blackstone and Vista Equity Partners. The new features include “collections,” which allows users to curate Smartsheet content and assets from third-party platforms in one workspace that can be shared across a company. There is also a new built-in file library feature and redesigned visual experiences to enhance user experience.
One of the key updates is the introduction of a new connector, enabling the synchronization of data from Smartsheet into Amazon Q Business. Amazon Q is a generative AI-powered assistant designed for enterprises that leverages business data to quickly answer questions or generate content. This integration means that Smartsheet users will have the ability to query Amazon Q’s chatbot for information about their Smartsheet projects. This move aligns with Smartsheet’s strategy to securely integrate with industry-leading enterprise AI tools, allowing customers to seamlessly work across their business applications.
In July, Smartsheet announced that it was leveraging Amazon Q for its own workforce, showcasing the company’s commitment to utilizing cutting-edge technology to enhance internal processes. Amazon Q was unveiled last year at the AWS re:Invent conference, as part of Amazon’s efforts to compete with other tech giants in introducing new artificial intelligence capabilities for businesses and developers. With nearly 13.5 million users and 85% of the Fortune 500 as customers, Smartsheet’s integration with Amazon Q Business represents a significant advancement in its offerings and capabilities.
The announcement of the acquisition deal with Blackstone and Vista Equity Partners adds another layer of complexity to Smartsheet’s trajectory. The all-cash acquisition will take the company private again, six years after it went public. With a “go-shop” period ending on November 8, Smartsheet’s revenue increased by 17% to $276.4 million in its most recent quarter, with an operating loss of $8.5 million, demonstrating the company’s ongoing efforts to innovate and grow its market presence. The integration with Amazon Q Business and other new features showcased at the ENGAGE conference further solidify Smartsheet’s position as a leader in enterprise software solutions.
Overall, the new features and design changes introduced by Smartsheet at the ENGAGE conference, including the integration with Amazon Q Business, represent significant advancements in the company’s offerings. With a focus on enhancing user experience, expanding capabilities, and leveraging cutting-edge AI technology, Smartsheet is positioning itself as a leader in the enterprise software space. The acquisition deal with Blackstone and Vista Equity Partners adds another dimension to Smartsheet’s growth trajectory, signaling a new chapter for the company as it continues to innovate and expand its market presence.
