Smartsheet Finds Workflow Collaboration Sweet Spot With Brandfolder

Smartsheet is one step closer to strengthening its position in workflow collaboration and automation space with a $155 million deal splurge on Denver-based Brandfolder, a leader in digital asset management.  

Collaboration and work management solution vendor Smartsheet completed the acquisition of Colorado-headquartered Brandfolder, a  digital asset management (DAM) provider. The buy will allow Smartsheet to muscle into the workflow collaboration and automation market, which is  expected to hit US$ 8.5 billion by 2025. In fact, Smartsheet’s $155 million splurge on Brandfolder is its largest yet and opens the door to the digital asset management market. 

Founded in 2012, Brandfolder provides a centralized platform to discover, organize, control, distribute, and measure all forms of digital content. Brandfolder also provides insights and analysis on the discoverability and reusability of assets throughout the entire content lifecycle for stakeholders. 

The integration between Smartsheet and Brandfolder platforms will provide data-driven insights on content, enabling users to make appropriate administrative decisions. Luke Beatty, Executive Chairman and Founder of Brandfolderer said, “Brandfolderer has evolved how brands access, manage, and deploy their assets through an intuitive platform, but as work becomes heavily content centric, teams need a way to manage content alongside work.”

Kevin Souers, Chief Product Officer at Aprimo said, “The advantage of building a DAM-first strategy is you also get content production workflows, so you can start to streamline your processes to reduce friction, deliver on time, and reduce burnout.” 

He adds, “The bottom line is it starts by getting your content production, enrichment, and management in order.”

See Also: Top 10 Digital Asset Management (DAM) Software Solutions for 2020

Speaking with Toolbox, Nina Brakel-Schutt, Director of Creative and Brand Strategy, Widen said, “A DAM solution contributes to a brand’s bottom line by saving time and resources (fewer hours spent searching for brand assets, uploading assets, and sharing from a central source of truth), protecting assets from accidental loss or deletion, preventing usage fees from rights violations, infusing brand consistency across marketing and sales, and ensuring that the correct versions of assets are always used in your digital channels.”

Denver-based Brandfolder has so far raised $11 millionOpens a new window in funding and has managed to grow its annual recurring revenue by 100% as reported in December 2019Opens a new window , making it an attractive prospect for Smartsheet.

Besides Brandfolder’s growth prospects, its content & digital asset management capabilities are an intrinsic addition to the Smartsheet platform. Mark Mader, CEO at Smartsheet said, “Brandfolderer’s content capabilities coupled with Smartsheet’s powerful workflow and collaboration features will provide teams with a dynamic solution to securely manage, share, and publish their content, empowering cross team and organization collaboration.”

Let us know if you liked this news on LinkedInOpens a new window , TwitterOpens a new window , or FacebookOpens a new window . We would love to hear from you!