TSheets Founder Matt Rissell's Net Worth Was Likely Huge

Matt Rissell's net worth as the founder of TSheets was likely impressive after the massive sale of the company in 2017. Here's what we know.

Kathryn Underwood - Author

May 5 2023, Published 12:40 p.m. ET

Matt Rissell in a black TSheets t-shirt
Source: Twitter/@MattRissell

After the shocking news of Matt Rissell's death under tragic circumstances, people may be wondering what happened to the TSheets founder after he sold his company. TSheets is a time tracking platform that made Rissell a wealthy man and early retiree. Here's what we know about Matt Rissell's net worth upon his death.

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Rissell built an extremely successful company in the mid-2000s that sold in a nine-figure deal with Intuit, easily making Rissell financially independent and able to retire. However, in 2020 he announced "retirement is NOT for me." Rissell died by suicide after injuring another person. Here's what we know about his life and net worth.

Matt Rissell interview in 2019
Source: Twitter/@MattRissell

Rissell talking about his experience as a founder who sold his company at StartupGrind 2019.

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Matt Rissell

Founder and former CEO of TSheets

Net worth: $340 million (unconfirmed)

Matt Rissell founded a web-based and mobile time tracking and employee scheduling app called TSheets. In 2006, he and co-founder Brandon Zehm started the Boise, Idaho company. An iPhone app version was released in 2008, and an integration with QuickBooks came in 2012. By 2017, the company's value had grown and Intuit announced that it would acquire TSheets for $340 million. Rissell stayed on in a role at Intuit until 2019 when he retired. He died in what's thought to be an attempted murder-suicide on May 4, 2023.

Birthdate: 1977

Education: University of Northern Colorado, Colorado Mesa University

Spouse: Robin Rissell

Children: 3

A TSheets meeting
Source: TSheets by QuickBooks Facebook
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Matt Rissell founded the time tracking firm TSheets.

Rissell is best known to the public as the co-founder and former chief executive of TSheets. The company provided employee scheduling and time-tracking on both web and mobile applications. He and his co-founder launched TSheets in 2006 and gradually expanded its operations to iPhone, and later integrated with QuickBooks (owned by Intuit).

Intuit announced its plans to acquire TSheets in December 2017. The $340 million transaction closed on Jan. 11, 2018. QuickBooks renamed TSheets Time Capture, and later it was renamed again to QuickBooks Time.

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How much was Matt Rissell's net worth?

Rissell died on May 4, 2023. A precise number for his net worth is unknown, although when TSheets was acquired by Intuit for $340 million, he likely pocketed a large amount of that.

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TSheets was renamed to QuickBooks Time
Source: TSheets by QuickBooks Facebook
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Matt Rissell's primary career was at TSheets.

According to his LinkedIn profile, prior to starting TSheets in 2006, Rissell was an account manager at Verizon Wireless between 2000 and 2004. From 2004 until 2007, he had a Cartridge World franchise, and he also founded Recartridge Cycle in 2005. He sold those businesses to fully pursue TSheets.

Rissell stated on LinkedIn that TSheets received the following accolades:

  • Best Places to Work in Idaho 2015 + 2016
  • The Sleeter Group Awesome App Award 2015
  • Idaho Technology Innovative Company of the Year 2014
  • The Sleeter Group Awesome App Award 2014
  • Intuit’s App of the Month 2013
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After selling TSheets, he worked as the vice president of TSheets under Intuit for about two years. More recently, he served on the board of CoderPad, Slayer Duck Calls, TextExpander, and Wild Alaskan Company.

Matt Rissell and family at Feed My Starving Children
Source: Matt Rissell Twitter

Rissell tweeted this photo of his family serving at a nonprofit serving hungry children in March 2020.

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Matt Rissell was married and a father of three.

Rissell was married to his wife, Robin, and together they had three children. In an interview with Trailhead Boise, he said of his post-TSheets life, “It’s not super exciting, though, it’s really not. I’m a dad and a husband, I’m investing in startups, and I sit on a couple of boards. And I travel all over the world.”

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Rissell said at the time that he really enjoyed sitting on boards of companies because although he didn't have control, he liked "helping entrepreneurs succeed." He said, "I vacillate back and forth between wanting to be a CEO again," explaining that he was enjoying spending more time with his three children than was possible when they were younger.

Matt Rissell died on May 4, 2023. According to Idaho News, he died of a self-inflicted gunshot wound early that morning. Another person, a woman whom Rissell knew, was seriously injured, although her identity hasn't been revealed. BoiseDev noted that Eagle Police said it seemed that he had shot the woman, then turned the gun on himself.

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