Australia's Simple gets $17m expansion round

Existing investor Perle Ventures also participated in the round. The capital will be used to extend Simple's footprint into new markets in Europe while consolidating an existing presence in the US. This effort will leverage a partnership with Microsoft which has recently supported development of a new cloud-based software product.

"We believe Simple has the opportunity to scale exponentially and win its market, with leadership that's very consistent with our culture," Joseph Kim, CEO at BBRC Private Equity, said in a statement. "We look forward to a successful partnership with Aden [Forrest, CEO of Simple] and Perle Ventures."

Simple creates software to help marketing teams organize campaigns across multiple online channels and manage their workflow efficiently, operating on a software-as-a-service basis. Clients have included Westpac, AMP and Commonwealth Bank. The company raised a A$10 million ($7.3 million) round in 2016 with support from Perle and Korea's SparkLabs Global Ventures.

BBRC Private Equity was set up in April as part of BBRC Capital Management, the funds management division of private investment company BBRC. Earlier this month, the firm hired Kriss Pachauri, formerly of Fort Street Advisers and Goldman Sachs, as an investment manager. Several more hires are expected to follow in the coming six months.

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• Topics
• Australasia
• Expansion
• Support services
• Technology
• Australia
• Venture
• professional services
• Microsoft