Simpplr Secures $10 Million to Accelerate Product Innovation

HR Tech Outlook | Monday, August 24, 2020

Companies around the world such as AAA, Eurostar, Leukemia& Lymphoma Society, Quantcast, and Splunk rely on Simpplr to streamline internal communications and forge employee connections

FREMONT, CA: Simpplr, the leading provider of modern intranet software, raised $10 million in series B funding, bringing the total amount to nearly $30 million. The financing round was led by Norwest Venture Partners with participation from Salesforce Ventures, both previous investors in the company.

Simpplr will use the newly raised capital to accelerate product innovation, fuel go-to-market expansion, and extend its partner ecosystem.

"Right now companies are realizing that they need to create a definitive source of truth for internal communication. Employees are spread out across geographies, physically isolated from coworkers and in need of connection," said Dhiraj Sharma, founder, and CEO of Simpplr. "We are reinventing the intranet, creating a virtual headquarters, company newsroom and online watercooler that employees love. Simpplr is purpose-built to empower employees to collaborate across departments and stay connected to the broader organization. This has helped drive customer adoption that is five times the industry average and deliver 97percent customer retention."

In the previous year, Simpplr grew annual recurring revenue (ARR) by 130 percent, serving more than 200 happy customers. The company recently launched the industry's first auto-governance engine built on AI technology to ensure that intranet content is up-to-date, relevant, and useful. It also introduced significant enhancements to its Adaptive Personalization, which tailors the user's experience based on role, location, tenure, department, topical interests, and previous searches so that only relevant content is served.

"Simpplr has reimagined what an intranet should look like in 2020 and beyond, one built on AI with an amazing user experience that empowers employees to collaborate and stay connected," said Promod Haque, Senior Managing Partner at Norwest Venture Partners and Simpplr board member. "Their approach to revolutionizing the intranet will deliver significant business value to employers by engaging employees in ways that boost productivity and improve communications, especially in the work from home environment. We are proud to be a part of Simpplr's journey."

The company has been selected as one of the Top 10 Remote Work Tech Solution Providers-2020 by CIOReview magazine.

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