McLaren Racing and Smartsheet Announce New Partnership for the McLaren Formula 1 Team

Rhea-AI Summary

Smartsheet (NYSE:SMAR) announced its partnership with McLaren Racing, becoming the official technology partner for the McLaren Formula 1 team during the 2021 Brazilian Grand Prix. This alliance aims to support digital transformation within McLaren's operations by integrating Smartsheet's technology, focusing initially on asset management for fan engagement and race operations. The Smartsheet brand will be featured prominently on McLaren's race cars and team apparel from the 2022 season onward, representing a significant branding opportunity for Smartsheet in a global sports arena.

Positive

• Partnership with McLaren Racing boosts brand visibility at global Formula 1 events.
• Integration of Smartsheet technology enhances McLaren's digital transformation efforts.

Negative

• None.

BELLEVUE, Wash.--(BUSINESS WIRE)-- McLaren Racing and Smartsheet (NYSE:SMAR), the enterprise platform for dynamic work, today announced a new partnership that will see Smartsheet become an official technology partner of the McLaren Formula 1 team at the 2021 Brazilian Grand Prix.

Smartsheet debuts as official technology partner of the McLaren Formula 1 team at the 2021 Brazilian Grand Prix (Photo: Business Wire)

Smartsheet is a leading platform for dynamic work that aligns people and technology, enabling teams to move faster and drive innovation. The partnership is the union of two brands who look to achieve excellence and success through integrity, teamwork, and collaboration.

Smartsheet technology will be integrated into the McLaren Racing infrastructure to help drive the team’s digital transformation, with an initial focus on smarter asset management to support fan engagement and race operations through Smartsheet’s digital asset management platform, Brandfolder.

The Smartsheet brand will first be represented on the McLaren MCL35M race cars at the 2021 Brazilian Grand Prix, and then on the race cars, pit-crew overalls, pit-wall stand and race suits of the McLaren F1 drivers, Lando Norris and Daniel Ricciardo, for the 2022 season and beyond.

Zak Brown, CEO, McLaren Racing, said:
“We’re delighted to partner with Smartsheet, a brand who shares our ambitions in striving for excellence built on a foundation of teamwork and integrity. Technology is vital to everything we do, and Smartsheet’s technology will help us drive our digital programmes to a new level and enable us to implement systems that will positively impact our racing operations. We look forward to seeing the Smartsheet brand represented on our McLaren F1 cars this weekend and in the future on the global stage of Formula 1.”

Mark Mader, CEO, Smartsheet, said:
“Technology is at the core of McLaren Racing, from pushing the boundaries of what it means to be a racing organization to adapting to new ways of working that ensure operational excellence. Smartsheet powers many of the greatest teams in the world, and we’re proud to fuel McLaren’s strategic initiatives and winning ambitions by bringing teamwork and collaboration to the starting line.”

About McLaren Racing

McLaren Racing was founded by New Zealand racing driver Bruce McLaren in 1963. The team entered its first Formula 1 race in 1966, since then McLaren has won 20 Formula 1 world championships, more than 180 Formula 1 grands prix, the Le Mans 24 Hours at its first attempt and the Indianapolis 500 three times. McLaren Racing currently competes in Formula 1 globally and INDYCAR in the US. The team is contesting the 2021 FIA Formula 1 World Championship with Lando Norris and Daniel Ricciardo, and in the 2021 INDYCAR Series with Arrow McLaren SP drivers Pato O’Ward and Felix Rosenqvist. In 2022, McLaren Racing will enter a new category of motorsport when it enters a team into Extreme E, the innovative all-electric off-road racing series.

About Smartsheet

Smartsheet (NYSE: SMAR) is the enterprise platform for dynamic work. By aligning people and technology so organizations can move faster and drive innovation, Smartsheet enables its millions of users to achieve more. Visit www.smartsheet.com to learn more.

Forward-Looking Statements

This press release contains “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, statements about Smartsheet’s expectations regarding possible or assumed business strategies, channel and partner strategies, potential growth and innovation opportunities, new products, and potential market opportunities.

Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “believe,” “continue,” “could,” “potential,” “remain,” “will,” “would” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: our ability to achieve future growth and sustain our growth rate, our ability to attract and retain talent, our ability to attract and retain customers (including government customers) and increase sales to our customers, our ability to develop and release new products and services and to scale our platform, our ability to increase adoption of our platform through our self-service model, our ability to maintain and grow our relationships with channel and strategic partners, the highly competitive and rapidly evolving market in which we participate, our ability to identify targets for, execute on, or realize the benefits of, potential acquisitions, and our international expansion strategies. Further information on risks that could cause actual results to differ materially from forecasted results is included in our filings with the US Securities and Exchange Commission (SEC), including our Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2021 filed with the SEC on September 8, 2021. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211111005735/en/

For further information, please contact:

McLaren

• Tim Bampton, Chief Communications Officer, McLaren Racing tim.bampton@mclaren.com / +44 (0) 7468 714614
• Kristina Kyriacou, Director, Communications, McLaren Racing Kristina.kyriacou@mclaren.com / +44 (0) 7557 157777
• Siobhan Filsell, Communications Manager, McLaren Racing siobhan.filsell@mclaren.com / +44 (0) 7879 890 260
• Curtis Nice, Communications Executive, McLaren Racing curtis.nice@mclaren.com / +44 (0) 7765 742 300

Smartsheet

Chrissy Vaughn

pr@smartsheet.com

Source: Smartsheet

FAQ

What is the significance of the Smartsheet and McLaren Racing partnership?

The partnership allows Smartsheet to enhance brand visibility globally while assisting McLaren in digital transformation efforts.

When did Smartsheet become the official technology partner of McLaren Racing?

Smartsheet became the official technology partner of McLaren Racing during the 2021 Brazilian Grand Prix.

How will Smartsheet's technology be used by McLaren Racing?

Smartsheet's technology will initially focus on smarter asset management to support fan engagement and race operations.

Where will Smartsheet's branding appear in relation to McLaren Racing?

Smartsheet's branding will be displayed on McLaren's race cars, pit-crew overalls, and drivers' suits starting from the 2022 season.

What are the expected benefits for Smartsheet from this partnership?

Smartsheet expects increased brand visibility and potential growth in market presence through its association with a prestigious F1 team.