Australia-headquartered SaaS provider simPRO has raised over $350 million from K1 Investment Management and existing investor Level Equity, according to an announcement.
Led by CEO Sean Diljore, simPRO helps field service business owners grow revenue and profitability by reducing their reliance on paper-based workflows.
simPRO’s cloud-based software is an end-to-end field service management solution that streamlines field workflows, enables business growth and increases profits.
The company claims to have over 200,000 users in Australia, New Zealand, the United States and the United Kingdom.
The funding will be used to accelerate product investment and scale global operations across the business.
Additionally, simPRO also announced the acquisitions of ClockShark, a US-based time-sheeting and scheduling platform, as well as AroFlo, an Australia-based job management software provider.
Together, the companies support the full lifecycle of a field service organization from sole operator or small business to larger, more complex businesses and franchises.
The leadership teams of simPRO, ClockShark, and AroFlo will operate independently and will continue to provide service on existing products.
“We’re excited to start this path with simPRO and K1,” said Cliff Mitchell, ClockShark CEO. “It opens up many opportunities for ClockShark as a company, and for the customers we serve. We chose to move forward with simPRO because of its global footprint which will provide us access to additional markets, customers, and resources relevant to ClockShark customers.”
K1 is a global investment firm that builds enterprise software companies. Meanwhile, Level Equity is a growth equity firm that focuses on providing capital to rapidly growing software and internet companies.