Simplus Closes $20 Million in Financing to Fuel Continued Growth
January 30, 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.
SALT LAKE CITY–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/cpq?src=hash” target=”_blank”gt;#cpqlt;/agt;–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.
“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.
“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.
“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.”
Simplus is currently one of the largest CPQ (configure, price, quote)
global technology service providers, with more than 150
certified consultants and offices in the United States, Canada,
Australia and the Philippines. Simplus has emerged as a strong leader in
Salesforce quote-to-cash innovation, introducing intellectual property
such as the first
CPQ-focused manufacturing accelerator for Salesforce in Fall 2018.
Simplus was ranked as the No.
1 fastest growing consulting firm in 2018 by Consulting Magazine and
a “leader”
among 285 Salesforce consulting providers on the G2 Crowd Grid.
For more information about Simplus’ services or the Series C funding
round, please contact (949) 813-0182 or email amyc@simplus.com.
Salesforce CPQ is among the trademarks of Salesforce.com, Inc.
About Simplus
Simplus provides enterprise-wide digital transformation across the
entire Salesforce ecosystem through advisory, implementation, change
management, custom configuration and managed services. As a Platinum
Salesforce Partner, we use leading cloud solutions to help companies
achieve a strategic vision, improve performance and increase value to
stakeholders. With more than 2,000 projects and a customer satisfaction
rating in the top 1 percent of all Salesforce partners, Simplus helps
companies improve, innovate and grow. For more information about
Simplus, please visit www.simplus.com.
Salesforce Ventures
Salesforce Ventures is the fastest growing top five enterprise software
company and the No. 1 CRM provider globally. Salesforce Ventures—the
company’s corporate investment group—invests in the next generation of
enterprise technology that extends the power of the Salesforce Customer
Success Platform, helping companies connect with their customers in
entirely new ways. Portfolio companies receive funding as well as access
to the world’s largest cloud ecosystem and the guidance of Salesforce’s
innovators and executives. With Salesforce Ventures, portfolio companies
can also leverage Salesforce’s expertise in corporate philanthropy by
joining Pledge 1 percent to make giving back part of their business
model. Salesforce Ventures has invested in more than 280 enterprise
cloud startups in 18 different countries since 2009. For more
information, please visit www.salesforce.com/ventures.
Contacts
Media Contact
Amy Cook
VP of Marketing
amyc@simplus.com
(949)
813-0182