Rows has raised 8 million euros (approximately $8.7 million) to expand its AI-powered, cloud-based spreadsheet app. The funding, led by Indico Capital Partners, will accelerate data integrations, enhance AI features, and support expansion in key markets: the United States, the United Kingdom, and Europe.
“There’s never been a better time to build the future of spreadsheets,” the company said in an announcement last week.
Founded in 2017 by Torben Schulz and Humberto Ayres Pereira, Rows offers fast data import, an AI Analyst for extracting insights, and collaborative sharing features. The app aims to address common challenges in cloud data storage, such as efficient loading, analyzing, and sharing of data.
Rows provides native integrations with various marketing and business tools, an intuitive AI Analyst, and aesthetically pleasing spreadsheet designs. PYMNTS Intelligence notes a growing opportunity for next-generation automated tools, especially in supporting CFOs with document digitization and workflow automation. For instance, a report found that 8 in 10 content management firms without automated spend management systems are highly interested in adopting one.
Words from those involved in the funding round:
“The latest funding round is a testament to the innovation and growing demand for Rows’ unique approach to spreadsheets. With fresh capital and an impressive roster of investors, Rows is poised to accelerate its mission of transforming data workflows for business and marketing professionals.”
— Indico Capital Partners statement
“We have been following the company from inception and the time is now right to step in and add our knowledge and network to enhance the product and expand sales massively at a global scale.”
— Stephan Morais, managing general partner at Indico Capital Partners
