Equals secures $15M investment to supercharge spreadsheets

Equals, a New York-based startup ambitiously aiming to challenge Excel’due south dominance with a supercharged spreadsheet, today announced that information technology raised $16 meg in a Series A funding round led by Andreessen Horowitz (a16z), with participation from Craft Ventures, Box Group, Worklife and Combine. Co-founded past Ben McRedmond and Bobby Pinero, two former Intercom employees, Equals claims its spreadsheet is one of the few with built-in connections to databases, versioning and collaboration features.

Equals isn’t the get-go startup on a mission to kill the traditional spreadsheet. There’s Airtable, of course, plus upstarts like Spreadsheet.com, Actiondesk and Pigment — the final of which raised $73 million last Nov for its data analytics and visualization service. Merely Pinero, Equal’s CEO, claims that Equals is unique in that it doesn’t so much supervene upon the spreadsheet as incorporate boosted tools, similar live data integrations.

“Equals comes from a really unproblematic and obvious insight: that the spreadsheet is the best way to practice assay,” Pinero told TechCrunch in an electronic mail interview. “Excel was built about xl years ago. Google Sheets 16 years ago. The way companies work today is meaningfully different. Our data is manner more than accessible. We should automate much of the painful, transmission work of getting data into a spreadsheet. And nosotros’ve learned then much about how teams improve collaborate over the by decade. A spreadsheet should incorporate those learnings. That’s Equals.”

Customers tin tap Equals to build analyses with real-time information directly from a database or information warehouse, with or without using sequel query language. It supports standard formulas and offers templates for common use cases, like tracking recurring acquirement and measuring user engagement.

Image Credits: Equals

Presently, Equals volition be able to import scripts to allow users to connect spreadsheets to unlike APIs and internal tools with JavaScript or Python. Also on the way are pivot tables and connectors to business intelligence apps from Salesforce, QuickBooks, Stripe and Google Analytics.

“Equals represents a massive opportunity to get business concern stakeholders — typically folks who are neglected from being able to get their ain information — access to data. To be able to piece of work with data in a tool they’re comfy and already know how to utilize: a spreadsheet,” Pinero said. “No more transmission spreadsheets that take hours to manually update across the squad. No more dumping data from BI tools into spreadsheets to and so practice analysis.”

That’due south a lot to hope, merely Pinero is well aware of the hurdles ahead. He doesn’t look 10-employee Equals to be profitable for a while — the Serial A proceeds will become more often than not toward R&D, he says; Equals has raised $23 meg to engagement — and the platform will remain gated backside a waitlist pending the next major product release. Pinero claims that “thousands” of people have signed up and so far.

“It speaks to the excitement and traction with Equals that in this marketplace nosotros’ve been able to heighten a significant serial A. At our current burn, we have eight-plus years of runway,” Pinero said. “We’re very well positioned to outlast this downturn, all the same long it may go. Every bit the maxim goes, generational companies are congenital during these downturns, and we program on making Equals ane of those.”

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