Coefficient Raises $6.7 Million Seed Funding

<p><strong><span class&equals;"xn-location">MOUNTAIN VIEW<&sol;span><&sol;strong> &&num;8212&semi; <u>Coefficient<&sol;u>&comma; a developer of a no-code solution enabling business teams to work with real-time data directly from spreadsheets&comma; has raised <span class&equals;"xn-money">&dollar;6&period;7 million<&sol;span> in seed funding led by Foundation Capital with participation from S28 Capital and angel investors&comma; notably including <span class&equals;"xn-person">Eric Yuan<&sol;span>&comma; CEO of Zoom&comma; and <span class&equals;"xn-person">Kedar Doshi<&sol;span>&comma; EVP&comma; Salesforce Einstein Analytics&period;<&sol;p>&NewLine;<p>Coefficient is building the next evolution of the spreadsheet&comma; one that is automated and connected to each company&&num;8217&semi;s data sources&period; Coefficient empowers anyone in a company to build reports and workflows that are real-time&comma; flexible and accurate without any knowledge of SQL or other advanced tools&period;  Already being used by the likes of Uber&comma; Spotify&comma; Unity&comma; Klaviyo&comma; Miro and Contentful&comma; the firm is seeking to equip all users with the tools to build dashboards&comma; collaborative workflows and internal apps with two-way data connectivity to their cloud systems&comma; all from their spreadsheet&period; The funds will primarily be used for research and development to enhance its core product offering&comma; as well as ramp up hiring across all functions&period;<&sol;p>&NewLine;<p>&&num;8220&semi;We are on a mission to empower every business user to build  automations and workflows on live data from their company&&num;8217&semi;s data silos&comma; without any knowledge of advanced tools&comma; programming or query languages&comma;&&num;8221&semi; said co-founder and CEO&comma; <span class&equals;"xn-person">Navneet Loiwal<&sol;span>&period; &&num;8220&semi;Coefficient is the next&comma; long overdue evolution of the spreadsheet&comma; one that is automated&comma; optimized and connected to any popular SaaS system&period; Nearly every corporate worker uses spreadsheets on a daily basis&comma; and for the first time&comma; they can integrate meaningful data in a user-friendly way&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Coefficient leverages the power and flexibility of the spreadsheet to allow citizen data analysts the ability to work with real-time data from systems like <a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;3332231-1&amp&semi;h&equals;3165562145&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fcoefficient&period;io&percnt;2Fintegrations-google-sheets&percnt;2Fsalesforce&amp&semi;a&equals;Salesforce" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Salesforce<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;3332231-1&amp&semi;h&equals;214125159&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fcoefficient&period;io&percnt;2Fintegrations-google-sheets&percnt;2Fhubspot&amp&semi;a&equals;HubSpot" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">HubSpot<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;3332231-1&amp&semi;h&equals;901203871&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fcoefficient&period;io&percnt;2Fintegrations-google-sheets&percnt;2Fsnowflake-data-warehouse&amp&semi;a&equals;Snowflake" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Snowflake<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;3332231-1&amp&semi;h&equals;1180334836&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fcoefficient&period;io&percnt;2Fintegrations-google-sheets&percnt;2Ftableau&amp&semi;a&equals;Tableau" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Tableau<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;c212&period;net&sol;c&sol;link&sol;&quest;t&equals;0&amp&semi;l&equals;en&amp&semi;o&equals;3332231-1&amp&semi;h&equals;1344395889&amp&semi;u&equals;https&percnt;3A&percnt;2F&percnt;2Fcoefficient&period;io&percnt;2Fintegrations-google-sheets&percnt;2Flooker&amp&semi;a&equals;Looker" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener">Looker<&sol;a> and more&comma; without any coding or SQL&period; Coefficient empowers the billion plus users worldwide using  spreadsheets daily to glean powerful insights from the external data sources they&&num;8217&semi;re already using&period; By giving users a unified data access layer to company systems&comma; Coefficient allows users to explore&comma; query&comma; analyze and drive insights from otherwise siloed data sets&period;<&sol;p>&NewLine;<p>&&num;8220&semi;We&&num;8217&semi;re thrilled to put our support behind the Coefficient team to help them on their mission to revolutionize the way businesses leverage spreadsheets&comma;&&num;8221&semi; said <span class&equals;"xn-person">Ashu Garg<&sol;span>&comma; Genearl Partner at Foundation Capital&period; &&num;8220&semi;Coefficient is effectively building the modern data stack for business teams&period; Spreadsheets have seen little in the way of innovation for the last 30 years&comma; and Coefficient is turning them into a powerful operating system connected to a company&&num;8217&semi;s systems&period;&&num;8221&semi;<&sol;p>&NewLine;