Science & Technology

SimPRO raises $350M+ to boost its field service management platform

Field service management startup simPRO Software Pty Ltd. today announced that it has raised more than $350 million through a funding round led by K1 Investment Management. 

In conjunction, the startup said that it has acquired two fellow software companies to expand its market reach. 

Field service management is the process through which companies set up equipment at customer sites and repair existing hardware. Such tasks can involve a great deal of work. To fix a malfunctioning piece of industrial gear, for example, a company must dispatch technicians to the customer’s location, perform troubleshooting and source any spare parts that may be needed. Often, specialized repair equipment must be brought as well. 

Brisbane, Australia-based simPRO offers a software platform that enables companies to manage all the key tasks involved in field service management using a single product. The startup says that its platform is used by more than 5,500 organizations. 

As part of its platform, simPRO provides an internet of things monitoring tool that can identify potential technical problems in connected systems. Another tool included in the platform helps with the task of logging issues affecting hardware assets. Companies can use simPRO to create maintenance schedules for each asset they maintain based on its specific operational requirements.

When technicians need to be dispatched to a customer site, simPRO can find the team closest to the hardware asset that needs to be installed or repaired. In complex projects that require specialized know-how, the platform can also help companies quickly identify the technicians with the most relevant skills.

Tasks such as carrying out repairs or installing a new piece of equipment can also represent a challenge from a procurement standpoint. In addition to dispatching technicians, companies must source the necessary parts for projects. According to simPRO, its platform provides features that help customers track the materials and equipment required for a project, as well as order additional hardware from suppliers if existing inventory is insufficient.

More than 200,000 users rely on simPRO’s platform across the 5,500 companies that the startup counts as customers. To expand its installed base to yet more companies, the startup today said it has acquired two fellow field service software providers: U.S.-based ClockShark LLC and Australia-based AroFlo Innovations Pty Ltd.

ClockShark provides a field service platform for the construction sector that includes workforce management features, a customer relationship management system and other capabilities. AroFlo, the second company simPRO has acquired, also competes in the field service segment. AroFlo’s platform provides features for many of the same use cases as simPRO, from tracking the parts used in projects to dispatching technicians.

Combined, simPRO, AroFlo and ClockShark have more than 320,000 users across approximately 17,000 companies. The startup said that the leadership teams of AroFlo and ClockShark will continue operating independently following the acquisitions. 

 “Both companies are leaders in their spaces and have incredibly valuable product offerings that will benefit our combined customer bases and help our customers increase revenue,” stated simPRO chief executive officer Sean Diljore.

Beyond making acquisitions, simPRO will use its latest funding round to speed up product development efforts and grow its global operations.

Photo: Unsplash

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