Austrlia-based software as a service (SaaS) provider simPRO announced that it has secured an investment of over $350 million from K1 Investment Management, with participation from existing investor Level Equity.
Additionally, it 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.
simPRO said in a statement, in addition to supporting the recent acquisitions, the funding will be used to accelerate product investment and scale global operations across the business.
It also noted, the leadership teams of simPRO, ClockShark, and AroFlo will operate independently, including continued service on existing products.
“This investment marks the next stage of simPRO’s exciting growth journey. Our mission is to build a world where field service businesses can thrive. That mission will continue to be our focus as we accelerate our expansion and product development efforts. We’ll continue adding to our suite of features and build further capabilities to support even more business owners within the global trade and construction industries,” said simPRO Chief Executive Officer Sean Diljore.
According to him, both ClockShark and AroFlo are leaders in their spaces and have incredibly valuable product offerings that will benefit simPRO combined customer bases and help its customers increase revenue.
“We look forward to growing together and building a range of solutions for the field service and construction industries,” he said.
According to the statement, combined the three companies, the platforms are trusted by more than 17,000 businesses, 320,000 users and have over 500 staff in offices throughout Australia, New Zealand, the United Kingdom and the United States, with continued expansion anticipated in all geographies.
“We’re excited to start this path with simPRO and K1. 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,” said ClockShark Chief Executive Officer Cliff Mitchell.
AroFlo Chief Executive Officer Guy Arrowsmith also said this opportunity with simPRO and K1 allows AroFlo to continue on its growth trajectory while providing the same great product and service to its customers.
“We’re excited to see what the future holds for all of our brands and what we can do together for the field service and construction industries,” he added.
Meanwhile, K1 Senior Vice President Simon Yu said K1 sought to invest in a global category leader that is transforming the way field service operators do business.
“simPRO’s global growth momentum will only accelerate with the complementary acquisitions of ClockShark and AroFlo. K1 is thrilled to partner with Sean and his team in creating a platform that can support the broadest range of customers with best-of-breed solutions, globally,” he said.
simPRO is a global SaaS business providing field service management solutions to trade and specialty contracting industries. With 200,000 users in Australia, New Zealand, the United States and the United Kingdom, its verticals broadly include security professionals, plumbers, electricians, HVAC, solar and data networking.
Led by Diljore and headquartered in Brisbane Australia, simPRO’s cloud-based software is an end-to-end field service management solution that streamlines field workflows to maximize workforces, enable business growth and increase profits. It has 400 employees over five global offices.
simPRO helps field service business owners grow revenue and profitability by reducing their reliance on paper-based workflows. With dedication to continuous product innovation, the company has experienced rapid growth as customers around the globe seek to future-proof their businesses with cloud-based, end-to-end software.