Total amount raised
$131.1 Million
Latest funding date
05/01/2023
Location
Simpplr has successfully raised funds through six distinct funding rounds, with the latest being a Series D round led by Sapphire Ventures. The company is backed by notable investors, including Salesforce Ventures and Sapphire Ventures.
Keep reading to explore the intricacies of Simpplr's fundraising journey and the investors backing this innovative platform.
What Is Simpplr?
Simpplr is an AI-powered employee experience platform that provides personalized experiences to inspire and engage employees. The company is located in Redwood City, California, and operates in multiple industries, including Artificial Intelligence, Collaboration, Enterprise Software, Human Resources, and Software.
Founded with the mission to enhance employee engagement and productivity, Simpplr has grown to employ between 251-500 people. The platform is recognized for its innovative solutions, such as AI Intranet, AI Search, and AI Agents, which streamline work and automate workflows.
How Much Funding Has Simpplr Raised?
- Series A
- Amount Raised: USD 6,000,000
- Date: September 2016
- Lead Investors: Norwest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the AI-powered employee experience platform.
- Series B
- Amount Raised: USD 8,100,000
- Date: March 2018
- Lead Investors: Norwest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and market reach.
- Series B
- Amount Raised: USD 5,000,000
- Date: June 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform and support customer growth.
- Series B
- Amount Raised: USD 10,000,000
- Date: August 2020
- Lead Investors: Norwest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand market presence.
- Series C
- Amount Raised: USD 32,000,000
- Date: July 2021
- Lead Investors: Tola Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance AI capabilities.
- Series D
- Amount Raised: USD 70,000,000
- Date: May 2023
- Lead Investors: Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the continued adoption of new AI capabilities and product development.
Total Amount Raised: USD 131,100,000. Current Valuation: Not publicly disclosed.
Key Investors
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that invests in growth-stage technology companies. They have a strong focus on driving innovation and business transformation.
- Investment Focus Areas: Enterprise technology, software, digital health
- Notable Investments: LinkedIn, Box, Square
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global, multi-stage investment firm that focuses on a wide range of sectors. They support companies from early to late stages of growth.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Uber, Spotify, Jet
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They aim to extend the power of the Salesforce platform.
- Investment Focus Areas: Cloud computing, enterprise software, AI
- Notable Investments: Zoom, DocuSign, Twilio
- Tola Capital
- Details: Tola Capital is a venture capital firm that invests in enterprise software companies. They emphasize leveraging data and analytics to drive business outcomes.
- Investment Focus Areas: Enterprise software, data analytics, cloud infrastructure
- Notable Investments: DataRobot, InfluxData, Matillion
What's Next for Simpplr?
As Simpplr looks to the future, the opportunities are vast. The growing demand for intranet platforms, especially in remote work environments, presents a significant market. With over $2.4 billion raised in the intranet space in 2022, Simpplr's AI-powered platform is well-positioned to capitalize on this trend. The company's recent $70 million Series D funding round underscores the potential for further growth and innovation.
Future fundraising opportunities seem promising, given the consistent demand for employee engagement solutions. The appetite for platforms like Simpplr remains strong, suggesting potential for additional investment rounds. However, the company will need to navigate challenges such as competition from other well-funded companies and ensuring their platform remains user-friendly and effective.
Industry trends indicate a continued focus on employee experience and the use of AI to enhance workplace productivity. Simpplr's ability to leverage these trends will be crucial in expanding its market reach and enhancing its product offerings. As the company grows, maintaining data privacy and adapting to changing workplace dynamics will be essential to sustaining its success.
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