Simplus Scores Series B Funds, Raises $17.8M
Simplus has announced the successful closure of its Series B funding round of $9.3 million and acquisition of consulting firm, CRM Manager.
Repeat Simplus investor EPIC Ventures led the round, joined by existing investor Salesforce Ventures, newcomer Cross Creek Advisors, and others. Simplus, a Platinum Salesforce Partner, raised an additional $8.5 million in debt financing from Silicon Valley Bank for a total of $17.8 million. A portion of the $9.3 million equity infusion was used to acquire CRM Manager, Simplus’ fourth Salesforce partner acquisition since receiving Series A funding in Q3 2016. This new acquisition continues the company’s expansion trend, which began earlier this year with the purchase of BaldPeak, Basati and EDL Consulting.
“We believe there is currently an opportunity for growth in the marketplace between large advisory firms and smaller consultancies,” said Ryan Westwood, CEO of Simplus. “To best serve our 2,000+ clients, we will continue to acquire top-notch companies, hire exceptional talent, and expand our Salesforce services from campaign to cash. We believe the acquisition of CRM manager will help us accomplish our goals.”
Founded in 2005, CRM Manager is a leading Salesforce implementation, integration, and consulting partner with offices in Philadelphia, Pittsburgh and New York City. CRM Manager became a Salesforce Ventures Portfolio Company in 2010. The Salesforce-certified consulting team focuses on delivering Salesforce, Insidesales.com and AppExchange solutions.
“I am thrilled to be part of the Simplus Team,” said Andy Atkins, CEO of CRM Manager. “As a Salesforce Partner, I wanted to make sure that our more than 1,000 clients will receive an additional benefit from our strategic decision to be acquired. Simplus offers not only that same level of customer quality but also particular expertise in the quote-to-cash space.”
This partnership comes on the heels of major growth for Simplus, a newly minted Certified Platinum Salesforce Partner in Quote-to-Cash implementations.
“We are pleased to see and be a part of the growth happening at Simplus,” said EPIC Ventures Managing Director Kent Madsen.
Simplus recently created 100 new jobs in the U.S. and overseas to address its swift growth and, in the past few months, recruited new Managing Director Suman Konidana and new V.P. of Western Sales Pete Shelton in its aggressive push to recruit prime talent in its growth surge.
