Spreadsheet Integration Tool With AI
What Happened to EqualTo? The Rise and Quiet Fall of the Spreadsheet Startup for Developers
Ever notice a startup disappear without a trace? That’s exactly what happened with EqualTo—a Berlin-based startup that set out to reinvent spreadsheets for the modern SaaS era. Backed by millions in seed funding and a promising product vision aimed at developers, EqualTo appeared poised for success. But fast-forward to 2024, and the company’s website is down, social media silent, and team scattered.
So what happened? Why did a seemingly well-funded and innovative startup vanish? Let’s dig in.
What Was EqualTo?
EqualTo was a German startup founded in 2020 by Diarmuid Glynn, Gijs Hubben, and Kim Bergstrand. Its core mission? Reinvent spreadsheets—not for everyday users like you and me, but for the software developers building complex enterprise tools.
Here’s what made EqualTo stand out:
- Spreadsheets as a Service: EqualTo let developers seamlessly integrate high-performance, programmable spreadsheets into SaaS platforms.
- Target Market: The focus was companies managing sales commissions—a notoriously tricky area involving variable compensation, fluctuating metrics, and workflows across CRM, ERP, and HR systems.
- Product Offerings: Key tools included:
- EqualTo Sheets: embedded calculation engine
- EqualTo SureSheet: centralized repository of commission logic
- EqualTo Chat: possibly AI-powered assistance (though little public detail exists)
In 2021, the company raised €3.5 million in a seed funding round led by Cavalry Ventures, alongside a group of veteran business angels. Things looked promising. But just a few years later, EqualTo all but disappeared.
Why Did EqualTo Fail?
Short Answer:
EqualTo likely ran out of funding before achieving meaningful profitability, and couldn’t secure additional rounds in a crowded and competitive developer-tool marketplace.
Long Answer:
Several factors likely contributed to EqualTo’s quiet shutdown. While there’s no official line from the company, here's a breakdown of the most likely suspects:
(a) Product-Market Fit Issues
EqualTo focused on a very specific pain point—sales commission management—through the lens of embedded spreadsheets. While technically impressive, the niche solution may have been too complex or unfamiliar for widespread adoption, especially among fast-growing startups who preferred out-of-the-box tools.(b) Monetization and Revenue Hurdles
The company's monetization strategy is unclear, though it appeared to be a B2B SaaS subscription model. But with no evidence of major clients or case studies, it’s likely that income didn't scale fast enough—if at all—to sustain operations.(c) Competitive Landscape
EqualTo entered a crowded space dominated by giants like Google Sheets, Microsoft Excel (Office 365), and newer upstarts like Equals—a similarly named competitor with a sleek interface and stronger product-market alignment. These alternatives had established user bases, brand recognition, and in some cases, better integrations.(d) Funding Gaps
After its 2021 seed round, EqualTo didn’t announce any further funding. That’s a red flag. For early-stage startups, failing to raise a Series A by year two or three often signals stalled growth or weak investor confidence. With no new capital, the company likely couldn’t scale its team, expand its product, or win big deals.(e) Timing and Macroeconomic Factors
EqualTo launched during a golden era for SaaS tools—just as remote work and digital transformation soared. But by 2022–2023, VC optimism started cooling. Markets tightened, and investor appetite for experimental or niche productivity tools waned. EqualTo may have simply run out of time.(f) Lack of Visibility and Community
For developer tools, adoption often spreads through community advocacy, open-source traction, or strong documentation. While EqualTo did have developer docs, there’s little evidence of a vibrant user base or evangelist community. Without community momentum, developer tools rarely thrive.
Were There Competitors Doing It Better?
Yes—one notable example is Equals, a cloud spreadsheet tool designed as a modern alternative to Excel. Like EqualTo, Equals targeted teams tired of patching together Google Sheets and BI tools. But Equals focused sharply on combining spreadsheet workflows with live data integrations, user experience polish, and intuitive dashboards.
So what did Equals do right that EqualTo didn’t?
- User-Centric Onboarding: Equals made setup dead-simple for small teams.
- Self-Serve SaaS Model: Easy to try, easy to buy—something EqualTo didn’t appear to offer broadly.
- Clear Positioning: While EqualTo pitched to developers and ops teams managing commissions, Equals positioned itself as a drop-in replacement for analysts, marketers, and growth teams using spreadsheets plus SQL.
- Continued Momentum: As of 2024, Equals remains active and funded, suggesting ongoing customer engagement and investor confidence.
In contrast, EqualTo bit off a more technical and niche market with a steeper learning curve—and perhaps without enough marketing muscle to grow it.
Final Thoughts: Was EqualTo a Good Idea That Arrived Too Early?
EqualTo wasn’t a bad idea—it tackled a real pain point with an elegant, if esoteric, technical solution. But like many developer-facing tools, complexity can often outpace usability. If your early adopters struggle to understand or implement your product, word doesn’t spread—and revenue doesn’t follow.
In some ways, EqualTo was a victim of classic startup asymmetries: building a tool with strong capabilities, but targeting a sliver of the market, during an economic period where investors wanted broader traction and faster returns.
Still, EqualTo should be remembered for pushing the boundaries of what spreadsheets could do. It offered a vision where developers didn’t have to bolt spreadsheets into SaaS workflows—they were the workflow.
Now, its quiet disappearance serves as a cautionary tale: even technically solid startups can falter without the right timing, focus, or funding runway.
FAQs About EqualTo
Who founded EqualTo?
EqualTo was founded in 2020 by Diarmuid Glynn, Gijs Hubben, and Kim Bergstrand in Berlin, Germany.
When was EqualTo launched?
The company was founded in 2020 and raised its seed round in mid-2021.
When did EqualTo shut down?
There is no confirmed shutdown date, but its website became inaccessible by late 2023, and no official activity has been recorded since April 2023.
How much funding did EqualTo raise?
EqualTo raised €3.5 million in a seed funding round in June 2021, led by Cavalry Ventures and supported by several business angels.
Why did EqualTo fail?
The likely reason was financial—running out of funds before achieving substantial revenue or customer traction. It also faced tough competition and may have struggled with product-market fit.
Was EqualTo acquired?
There’s no evidence of an acquisition or asset sale. The company appears to have shut down quietly, with no formal announcement or buyer.
Still curious about EqualTo? Think of it as a startup with spreadsheet superpowers built for a world that may not have been ready—or willing—to adopt them just yet.
What is equalto.com?
EqualTo is a platform offering spreadsheet services to developers. Its flagship feature, EqualTo Sheets, facilitates swift integration of spreadsheet technology into products and websites. Users can create, import, and export workbooks, embed collaborative editing widgets, and manipulate workbook data via REST and GraphQL APIs. Additionally, EqualTo enables "what if" scenario simulations through its REST API. For those seeking AI-generated spreadsheets, EqualTo AI provides a solution where users can describe their requirements, and the AI generates tailored Excel-style sheets. Use cases include enhancing SaaS products with spreadsheet functionality, given the widespread use of spreadsheets in businesses for calculations and problem-solving. Positive reviews underscore EqualTo's effectiveness, with a 4.7 out of 5-star rating on G2, praising its features and functionality. In essence, EqualTo offers a versatile solution for spreadsheet needs, catering to basic workbook management as well as AI-generated sheets, making it a valuable consideration for developers and businesses seeking to integrate spreadsheet capabilities into their offerings.
How secure is the data in equalto.com Sheets?
EqualTo Sheets prioritizes data security with several key measures:
Encryption: Data transmission between applications and EqualTo Sheets is encrypted using TLS (Transport Layer Security), ensuring confidentiality during transmission.
Data Storage: Your data is stored securely in an isolated environment. EqualTo Sheets utilizes Amazon Web Services (AWS) for hosting, known for its robust security features. Data is stored encrypted within their infrastructure.
Access Control: You have control over who can access your spreadsheets. Permissions can be set for individual users or groups, limiting viewing, editing, or management rights to authorized personnel and preventing unauthorized access.
Authentication: Users are required to authenticate using an API key to access EqualTo Sheets, ensuring only authorized users interact with the service.
Audit Logs: EqualTo Sheets maintains audit logs to track spreadsheet actions, facilitating monitoring and identification of any suspicious activity.
Privacy Policy: EqualTo's privacy policy outlines their commitment to safeguarding user data, providing transparency on data handling practices.
While EqualTo Sheets offers robust security features, it's important to implement best practices on your end. Handle sensitive data cautiously and integrate security measures within your application to uphold user information protection.
How can I integrate equalto.com Sheets into my application?
Integrating EqualTo Sheets into your application is a straightforward process. Here's a step-by-step guide:
Authentication: Begin by authenticating your REST calls using your EqualTo Sheets license key. This ensures secure communication between your application and EqualTo Sheets.
Reading and Updating Workbooks: Utilize the REST API to read and update workbooks, sheets, and cells. You can retrieve data from existing workbooks or programmatically modify cell values.
Creating and Uploading Workbooks: Use the API to create new workbooks by uploading a blank workbook or importing an existing XLSX workbook. Define the workbook structure and data programmatically.
Simulation API: If you need to conduct "what-if" scenarios, utilize the Simulation API. This allows you to simulate changes in cell values and calculate results based on those changes. For instance, you can inquire about the calculated value in a specific cell after altering another cell's value.
Example Usage: Suppose you aim to develop a web application enabling users to collaboratively edit a shared spreadsheet. Embedding an EqualTo Sheets widget in your app facilitates real-time collaboration among users.
Getting Started: Refer to the EqualTo Sheets documentation for comprehensive instructions and examples on how to get started with integration. Additionally, watching the "Getting Started with EqualTo Sheets" video provides a practical demonstration of the integration process.
Ensure to handle your EqualTo Sheets license key securely and adhere to best practices when integrating APIs into your application. Happy integrating!
What are the benefits of equalto.com?
Here are some benefits of using EqualTo:
Intuitive Design and Exceptional Customer Support: Users commend EqualTo for its intuitive design, enhancing usability. Additionally, the platform provides exceptional customer support, ensuring a smooth experience for users.
Efficient Commission Calculations: EqualTo simplifies commission tracking by auto-calculating commissions. This feature aids sales teams in monitoring their earnings, providing clarity as commission payouts approach.
Fluid Experience for Sales Teams: With an Excel-like interface, EqualTo offers sales teams a comfortable platform for creating commission schemes. The fluid and simple user experience motivates teams to strive for higher earning potential.
Serverless Solution with AI Technology: Unlike traditional spreadsheet software, EqualTo Sheets operates as a serverless solution. Leveraging AI technology, users can effortlessly generate spreadsheets with minimal effort, enhancing productivity.
Time Savings and Reliable Calculations: EqualTo streamlines calculations, saving users time. Its reliable results reduce the risk of errors, ensuring accuracy in financial calculations and data analysis.
Openness to Feedback and Regular Feature Updates: The EqualTo team values user feedback and actively incorporates it into platform improvements. Regular feature updates based on user needs enhance the platform's functionality and user experience.
In summary, EqualTo provides an efficient, user-friendly experience for managing commissions and spreadsheets. Its AI-powered features, commitment to customer satisfaction, and continuous improvement through user feedback make it a valuable tool for businesses.
What are the limitations of equalto.com?
While EqualTo has garnered positive reviews, it's crucial to acknowledge its limitations. Here are some points to consider:
Limited Features on Claimed Profiles: Profiles claimed by EqualTo on review platforms like G2 may have restricted features. Potential users should be mindful that these profiles might not offer comprehensive information.
Custom Pricing: EqualTo offers personalized pricing based on individual requirements. While this tailored approach is advantageous, it means that standard pricing information is not publicly available. Interested parties need to contact EqualTo directly for pricing details.
Advanced Spreadsheets: EqualTo is optimized for handling more sophisticated spreadsheets beyond Excel's capabilities. If your needs are basic, EqualTo might offer more functionality than necessary.
Developer-Centric: EqualTo Sheets, the spreadsheet tooling component, caters primarily to developers. Users who are less familiar with APIs and technical aspects may encounter a learning curve when using the platform.
It's important to recognize that every tool has its trade-offs. When evaluating EqualTo, consider your specific use case, preferences, and technical expertise to determine its suitability for your needs.
