SaaS startup Grid secured $12M in Series A Funding led by New Enterprise Associates

Grid, an Iceland based SaaS platform for people to work with data and numbers, has now secured a $12 Million in Series A funding round.

Grid is founded by the Hjalmar Gislason and a group of fellow software veterans in the year 2018. It leverages everyday people existing spreadsheet skills and assets to make communication and reporting of data and models easier and powerful.

Hjalmar Gislason, CEO, and founder of GRID said, "Data reporting and modeling is just the starting point. Data is now so ubiquitous in organizations that our entire way of thinking, reporting, and collaborating around data must improve. 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, said, "For years, NEA has understood that Excel is actually the world's most popular coding language. GRID has entered the market as a company that can not only augment and improve upon spreadsheets but also builds a stand-alone, defensible business. NEA has been a first-hand witness to best-in-class product-led growth in the B2B space with companies from Box to Tableau. 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."

The round was backed by the New Enterprise Associates with participation from existing investors Acequia Capital, BlueYard Capital, Slack Fund, and some other strategic partners.

The company, as of now, has plans to use the new funds to bring its product to market and accelerate product development, notes the announcement.