Simplus Closes $20 Million in Financing to Fuel Continued Growth

By PRNewswire On Feb 4, 2019

Kensington – SV Global Innovations LP Leads Series C Funding Round with Savano Capital Partners, Salesforce Ventures, Cross Creek Advisors, Epic Ventures and University Growth Fund, Providing Strategic Capital to Simplus for Organic and Acquisition-Based Growth

Simplus, a leader in Salesforce Quote-to-Cash, has successfully closed $20 million to further increase capacity across its product and service offerings, as well as acquire companies with complementary solutions valuable to customers. Silicon Valley Bank will provide an additional $6.5 million in debt financing. The round, designed to further ongoing expansion, was led by Kensington – SV Global Innovations LP (KSV) and joined by Savano Capital Partners. Existing investors Salesforce Ventures, Cross Creek Advisors, EPIC Ventures, University Growth Fund, Simplus CFO Paul Fletcher and G2 Crowd CEO Godard Abel, also participated in the round.

KSV was drawn to Simplus because of its strong management team and performance along with its unique combination of high customer satisfaction and award-winning culture.

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“Simplus enjoys high customer satisfaction and loyalty while maintaining a long history of exceptional performance and growth,” said Dan Gay, principal of KSV. “When you couple that with its coveted status as a Platinum Salesforce Partner and remarkable culture, we see a winning combination. Our new partnership will enable Simplus to attract additional talent and further develop its unique approach to delivering for customers and winning in the marketplace.”

High customer satisfaction is evident in the hundreds of five-star Salesforce AppExchange reviews, and Simplus currently ranks as one of the top solutions for Salesforce customers. Numerous awards, such as Entrepreneur Magazine’s Top Company Culture, the Lotus Culture award, and USA Today’s Best Places to Work attest to Simplus’ mantra: “Culture is our No. 1 metric.”

Simplus chose KSV to lead the Series C funding round because of its expertise in global markets, merger and acquisition transactions and high-quality partnerships with companies in growth-stage businesses.

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“With additional capital in hand, we aim to accelerate growth into new geographies, industries and products,” said Ryan Westwood, CEO of Simplus. “We have completed six acquisitions of complementary firms in the last two years. As we look forward, we see acquisitions and future financing as playing a key role in strengthening our competitive positioning and international presence.”

Simplus and KSV will focus its partnership on bringing Simplus’ expertise as the leader in Salesforce quote-to-cash to the global community and expanding its offerings to include products and services that enhance the quote-to-cash process.

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“Salesforce is a proven platform to serve customers, and Simplus has emerged as the leader in Quote-to-Cash innovation. Because of this, we have enjoyed a steady inflow of experienced professionals attracted to the success and culture of Simplus driving remarkable organic growth. In joining Simplus, they see enhanced career opportunity and enjoy an award-winning culture,” Westwood said. “We are grateful for our remarkable team located in the United States, Canada, the Philippines, Australia and throughout the world, as well as our strong partnership with Salesforce. We look forward to helping customers across the globe digitally transform their enterprises and realize the strategic benefits from doing so.”