Are rows limited to 20,000?


I am currently transitioning some of our Google Sheets spreadsheet tools to SmartSheet in an effort to work collaboratively with a partner of ours.

One of the essential components of our tool is a spreadsheet which we use for value lookups via the vlookup function which has about 250,000 rows.

When trying to upload this sheet, I was greeted with a message stating I could not upload a sheet that was past 20,000 rows.

Is there a way to resolve this limitation? Would a plan upgrade help, or are there any other solutions?