Total amount raised
$131.1 Millions
Latest funding date
05/01/2023
Location
Simpplr has successfully raised funds through multiple rounds, with the latest being a Series D round closed on May 2, 2023. The company is backed by notable investors such as Norwest Venture Partners, Salesforce Ventures, Tola Capital, 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, founded on July 15, 2014, by Dhiraj Sharma and Piyush Rajput, is an AI-powered employee experience platform headquartered in Redwood City, California. The company also has offices in the UK, Canada, and India.
Simpplr offers a range of products designed to enhance employee engagement, including AI Assistant, Intelligent Search, Personalized Content, Writing Assistant, and Employee Insights. Their platform aims to provide personalized experiences to inspire and engage employees.
With a workforce of 251-500 employees, Simpplr has established itself as a leader in the industry, recognized for its innovative solutions in employee experience and intranet services.
How Much Funding Has Simpplr Raised?
- Series A
- Amount Raised: $6M
- Date: September 2016
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation for the company's AI-powered employee experience platform.
- Series B
- Amount Raised: $8.1M
- Date: March 2018
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase market reach.
- Series B
- Amount Raised: $5M
- Date: June 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance user experience.
- Series B
- Amount Raised: $10M
- Date: August 2020
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growing demand for employee engagement solutions during the pandemic.
- Series C
- Amount Raised: $32M
- Date: July 2021
- Lead Investors: Tola Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and accelerate product innovation.
- Series D
- Amount Raised: $70M
- Date: May 2023
- Lead Investors: Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and support future growth and innovation.
Total Amount Raised: $131.1M. 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 partner with visionary teams and venture funds to build companies of consequence.
- Investment Focus Areas: Enterprise technology, SaaS, digital health
- Notable Investments: LinkedIn, Box, Square
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global, multi-stage investment firm managing more than $9.5 billion in capital. They invest in early to late-stage companies across a wide range of sectors.
- 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 invest in the next generation of enterprise technology.
- Investment Focus Areas: Cloud computing, AI, enterprise software
- Notable Investments: Zoom, DocuSign, Twilio
- Tola Capital
- Details: Tola Capital is a venture capital firm that invests in enterprise software companies. They focus on companies that leverage data and analytics.
- Investment Focus Areas: Enterprise software, cloud infrastructure, data analytics
- Notable Investments: DataRobot, InfluxData, Matillion
What's Next for Simpplr?
With the recent $70 million funding, Simpplr is poised to capitalize on the growing demand for AI-powered employee engagement solutions. The platform's ability to enhance communication and resource management in remote work environments presents a significant opportunity for expansion. As the market for employee engagement platforms continues to grow, Simpplr's innovative AI capabilities position it well to capture a larger share.
Future fundraising opportunities seem promising, given the consistent investor interest and the platform's demonstrated growth. The company may attract further investments to support ongoing product development and market expansion. However, challenges such as competition from other well-funded startups and ensuring data privacy and security could pose hurdles along the way.
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