Global field service management software platform simPRO has nailed down a $350 million investment and announced a pair of acquisitions, according to a Tuesday (Nov. 23) press release.
The investment will be used to support the acquisitions of time-sheeting and scheduling platform ClockShark and Australia-based job management software provider AroFlo as well as to accelerate product investment and scale global operations, the release stated. The leadership teams of simPRO, ClockShark and AroFlo will operate independently.
“This investment marks the next stage of simPRO’s exciting growth journey,” said simPRO CEO Sean Diljore in the release. “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.”
K1 Investment Management led the simPRO investment round, while existing investor Level Equity also participated in the effort, according to the release.
The acquisitions of ClockShark and AroFlo will help the company support the full lifecycle of field service organizations, whether it’s a sole operator, small business or large businesses, the release stated.
“We’re excited to start this path with simPRO and K1,” said ClockShark CEO Cliff Mitchell in the release. “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.”
AroFlo CEO Guy Arrowsmith said in the release: “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.”
The combined companies support more than 17,000 businesses, 320,000 users and have more than 500 employees — and counting — in Australia, New Zealand, the United Kingdom and the United States, according to the release.
Last month, expense management software company Expensify debuted its Free Plan for small- to medium-sized businesses (SMBs) to give users free, unlimited access to physical and digital Expensify Cards, with up to 2% cash back on purchases for the remainder of 2021 and 1% thereafter.
Read more: Expensify Rolls out Cards, Free Services for SMBs
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