Less than a decade after launching, Denver digital asset management company Brandfolder has been acquired in a deal worth approximately $155 million.
Bellevue, Wash.-based Smartsheet, a collaboration and work management platform, is acquiring Brandfolder to create a comprehensive solution to manage workflows around content.
Brandfolder launched in 2012 and had raised $11 million prior to this move, according to Crunchbase data.
The company provides a centralized platform to organize, discover, control, distribute and measure all forms of digital content. Brandfolder touts customers like Slack, Lyft and Mastercard, among others.
“Content is becoming an increasingly central component of any enterprise workflow across a broad range of departments, including marketing, legal, finance, and sales,” Smartsheet CEO Mark Mader said in a statement. “Brandfolder’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.”
Smartsheet will pay approximately $155 million for the acquisition, with a combination of cash and stock. The transaction is expected to closed in September and additional details regarding the anticipated financial impact of the acquisition will be provided on an earnings call on September 2.
By combining their services, the newly formed company will be able to manage, track and discover all content within their workflows. Internal teams will also be able to gain insights into their content and make strategic asset decisions with Brandfolder’s performance data features.
“Brandfolder 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,” said Luke Beatty, executive chairman and founder of Brandfolder, in a statement. “Together, Smartsheet and Brandfolder will give talented teams a dynamic solution to create and discover great content from inception to execution that builds a brand and impacts the bottom line.”
Brandfolder will maintain a presence in Denver following the close of the acquisition and Smartsheet intends to grow locally.
“Denver offers a rich tech talent pool and Smartsheet intends to continue to invest in the Denver market,” Smartsheet CPO Gene Farrell told Colorado Inno.
