K1, Level Equity invest $350m in Australia SaaS player

Simpro offers a cloud-based SaaS package that allows real-time connections between office and field operations for trade and specialty contracting industries. It automates workflows in areas such as in-team communications, billing, invoicing, and inventory management.

Focus industries include security, plumbing, electrical, building maintenance engineering, fire protection, solar, and data networking. The client base includes more than 17,000 businesses and 320,000 individual users across Australia, New Zealand, the UK, and the US.

The product suite features systems for GPS fleet tracking and monitoring assets with internet-of-things equipment, as well as various financial services and workflow scheduling dashboards with desktop and mobile access. There are also several offerings around training and ongoing technical support.

The company says it can accommodate businesses of any size and complexity, customizing services to company-specific processes and integrating a client's existing software with its own technology. It can also support private cloud hosting for large databases, security needs, or high volumes of data.

The latest investment will be used in part to finance two recently agreed acquisitions: Australian job management software provider AroFlo and US time-sheeting and scheduling platform ClockShark. The enlarged company will have a client base of 17,000 businesses and 320,000 individual users.

“K1 sought to invest in a global category leader that is transforming the way field service operators do business,” Simon Yu, a senior vice president at K1, said in a statement. “Simpro’s global growth momentum will only accelerate with the complementary acquisitions of ClockShark and AroFlo.”

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