Rows, the cloud-based spreadsheet app powered by artificial intelligence (AI), has secured 8 million euros (approximately $8. 7 million) in funding to facilitate its expansion. The company stated on LinkedIn that now is the ideal time to shape the future of spreadsheets. Indico Capital Partners, the leading venture capital firm in this funding round, revealed that the investment will support data integrations, improvements to AI capabilities, and growth in their main markets – the United States, the United Kingdom, and Europe. Rows, founded by Torben Schulz and Humberto Ayres Pereira in 2017, offers swift data import, an AI Analyst for deriving insights, and collaborative sharing features. The app resolves common cloud-related challenges faced by business and marketing professionals, such as efficient loading, analysis, and sharing of data.

Rows provides seamless integrations with various marketing and business tools, a user-friendly AI Analyst, and visually appealing spreadsheets. Indico Capital Partners expressed its belief in the innovative approach of Rows, stating that their funding will accelerate the transformation of data workflows for professionals. Stephan Morais, managing general partner at Indico Capital Partners, added that they have been monitoring Rows since its inception and are ready to contribute their knowledge and network to enhance the product and drive global sales growth. PYMNTS Intelligence highlights the surge in opportunities for next-generation automated tools in the realm of spreadsheets, particularly in supporting the role of the chief financial officer (CFO) through document digitization and workflow automation. The report from PYMNTS Intelligence and Airbase collaboration, "Improving Financial Performance: The Speed of Spend Management System Adoption, " reveals that 8 out of 10 content management firms are highly interested in adopting an automated non-payroll spend management system.