Grid, a SaaS start-up established in Iceland that lets you turn spreadsheets into visual “narratives,” has actually closed $12 million in Series A funding.
The round is led by New Business Associates (NEA), with involvement from existing investors BlueYard Capital, Slack Fund, Acequia Capital and other unnamed “strategic” partners. The injection of capital will be used by the business to bring its product to market and for more item development.
Established in late 2018 by Hjalmar Gislason– who was formerly behind DataMarket, an early mover in the “Data-as-a-Service” space– Grid is on a mission to change the method understanding workers interact with information, beginning with spreadsheets. Opening up its beta today, the SaaS allows you to turn spreadsheet workbooks into interactive and visual sites so that the data living in them can be much better interacted to various audiences.
“Grid offers a method for the daily spreadsheet user to easily produce interactive and visual stories on top of existing spreadsheets and securely share them utilizing the web,” Gislason describes.
Image Credits: Grid” Most data tools, even the most available ‘self-service’ tools, are power user tools– suggesting it takes time and purposeful effort to find out how to use them, and individuals that do become the go-to-people within their organizations when it concerns analysis, data-driven decisions and data stories. The tool everybody else uses to get things done in their day-to-day work is the spreadsheet.”
Gislason frames the initial problem the startup is focusing on as the minute when somebody has pulled together data or developed a model in a spreadsheet and now has to communicate it with another person. “The most common method, even today, is attaching an Excel file to an email. In doing so the spreadsheet author is giving up control over the spreadsheet, how its read and more dispersed,” he says.
That material is agonizing to take in on mobile devices and it is hard making sure everybody has the newest variation. Sharing spreadsheets in the cloud is an enhancement, but is still far from optimum.
To overcome this, individuals generally copy and paste charts and tables out of spreadsheets into PowerPoints and PDFs and distribute these as fixed artifacts, which solves the control issue but is tough to preserve and produce as it disconnects the presentation from “the underlying data and designs.” Grid aims to change this.
Throughout Grid’s personal beta period, the start-up saw two core usage cases. The very first was model discussion, such as a consultant or a company analyst that has developed a spreadsheet model and needs to communicate how the inputs affect the results. The 2nd is reporting, seeing Grid used by anyone that needs to routinely report data they’ve pulled together in a spreadsheet.
“Which’s a great deal of people!” adds Gislason. “Our users like the mix of text and information visualization that Grid provides, in addition to the reality that the Grid documents are straight connected to the underlying workbooks so that any change in the workbook, even a regional Excel file, is immediately reflected in the online report.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.