Australia: Marketing tech firm Simple secures $10m funding from SparkLabs, Perle Ventures

Image from Simple website.

The US-based VC firm SparkLabs Global Ventures and Australian VC firm Perle Ventures have led a $10-million investment in Brisbane-based marketing tech startup Simple to support its expansion in the US market.

The latest funding round brings the total investment in Simple to $13 million, according to local media’s reports.

Simple’s co-founder and chief executive James Charlesworth said that the latest round is mainly about finding the right strategic partners and the funding will go to further product development.

He told the media that it will probably raise another round in the next 12 months, and go public listing after that.

“We’ll stay private as long as possible and then when we get to a significant scale, listing becomes something interesting, but we’re focused on the fundamental unit economics of the business. It’s important to be pragmatic about each stage,” Charlesworth told Financial Review.

Headquartered in Brisbane, the four-year-old Simple has offices in Melbourne and Sydney as well as a small team in San Francisco. It has developed the software to help large enterprise marketing teams manage their workforce and communication across the team.

It claimed that its well-known clients included accounting software firm Xero, Tabcorp AGL, Westpac and Commonwealth Bank.

Simple has also appointed Paul McNamara, former principal at the Boston Consulting Group, as its chief financial officer and head of growth.

The company was founded in 2008 by James Charlesworth and Russell Lister, former executives at APN News & Media, while its current platform was launched in 2012.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.