Funding to Fuel Rapid U.S. Expansion in Sales, Marketing and Product Teams
At the kickoff of the 2020 NRF Conference, retail-performance platform provider SimpliField announced a $11 million Series A funding, led by U.S.-based growth equity investor Five Elms Capital. The company also announced the opening of its new NYC-based U.S. headquarters in Soho.
Launched in Paris in 2016, SimpliField helps leading brands and retailers like LVMH, L’Oreal, Estée Lauder, Samsung and Sony reduce costs, increase sales and drive deeper, longer-lasting customer relationships. The company’s mobile-first platform combines a one-stop-shop for real-time collaboration between store teams, field teams and leadership at HQ with a powerful analytical tool set, including customizable dashboards.
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“Despite rumors to the contrary, retail is far from dead. Customers have simply evolved, and now delivering a consistently excellent customer experience across all your stores is an absolute criteria for success. Industry leaders are getting the message that, in order to survive and thrive, they need to empower everyone – from the leaders at HQ to employees in stores and in the field – with the critical tools, guidance and insight they need to execute flawlessly,” said Benjamin Zenou, CEO of SimpliField.
“SimpliField is the only platform on the market that drives improved performance for retailers and brands by making the right data actionable by the right person, at the right time, in the right store — while also giving them the tools to take direct action on the data,” said Zenou.
Where most retail execution platform providers focus exclusively on providing tools to manage team tasks and workflow, SimpliField is different. The SimpliField platform gives team members at all levels the critical data and game-changing insights they need to make smart decisions, while also providing them with the easy-to-use planning, communication, execution and performance-management tools they need to deliver meaningful impact on store and team results.
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Fueled by rapid global growth, SimpliField plans to use its most recent fundraising round to significantly increase hiring in sales, marketing and product development — with a strong focus on expanding in the U.S. and continuing to build out a comprehensive suite of advanced performance and analytics solutions. The company will also open up its new NYC headquarters at 116 Elizabeth Street, on the border of Manhattan’s Nolita and Soho neighborhoods, in early February.
The investment was led by Five Elms Capital, a leading growth investor in founder-owned software businesses that users love. Early investors Cap Horn and Runa Capital also contributed to the Series A round.
“Retailers today all too often rely on disparate, outdated manual processes that simply don’t work, built on spreadsheets, emails and informal, insecure chat platforms, and guesswork,” said Ryan Mandl, Managing Director at Five Elms Capital.
“The SimpliField platform solves that pain with a simple, secure mobile and web-based platform for streamlined communications, improved visibility and insights they can use. We invested in the company because we believe in Ben and the leadership team, we believe in the product and we heard incredible feedback from the company’s customer base who is evangelical about the platform. Five Elms is excited to help SimpliField continue their path of growth and innovation.”
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