Acquisitions accelerate global expansion and product development efforts
[Brisbane, Australia -- November 24, 2021] Simpro, the global leader in field service management software, announced today that it has secured an investment of over $350 million from K1 Investment Management, with participation from existing investor Level Equity. Additionally, Simpro announced the acquisitions of ClockShark, a US-based time-sheeting and scheduling platform, as well as AroFlo, an Australia-based job management software provider. Together, the companies support the full lifecycle of a field service organization from sole operator or small business to larger, more complex businesses and franchises.
Simpro helps field service business owners grow revenue and profitability by reducing their reliance on paper-based workflows. With dedication to continuous product innovation, the company has experienced rapid growth as customers around the globe seek to future-proof their businesses with cloud-based, end-to-end software.
“This investment marks the next stage of Simpro’s exciting growth journey,” said Sean Diljore, Simpro CEO. “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.”
In addition to supporting the recent acquisitions, the funding will be used to accelerate product investment and scale global operations across the business.The leadership teams of Simpro, ClockShark, and AroFlo will operate independently, including continued service on existing products.
“We’re thrilled to welcome ClockShark and AroFlo to the Simpro family,” said Diljore. “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. We look forward to growing together and building a range of solutions for the field service and construction industries.”
“We’re excited to start this path with Simpro and K1,” said Cliff Mitchell, ClockShark CEO. “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 echoed this sentiment. “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.”
Combined, the platforms are trusted by more than 17,000 businesses, 320,000 users and have over 500 staff in offices throughout Australia, New Zealand, the United Kingdom and the United States, with continued expansion anticipated in all geographies.
“K1 sought to invest in a global category leader that is transforming the way field service operators do business,” said Simon Yu, senior vice president at K1. “Simpro’s global growth momentum will only accelerate with the complementary acquisitions of ClockShark and AroFlo. K1 is thrilled to partner with Sean and his team in creating a platform that can support the broadest range of customers with best-of-breed solutions, globally.”
Vista Point Advisors acted as financial advisor to ClockShark.
Simpro is a global SaaS business providing field service management solutions to trade and specialty contracting industries. With 200,000 users in Australia, New Zealand, the United States and the United Kingdom, our verticals broadly include security professionals, plumbers, electricians, HVAC, solar and data networking.
Led by CEO Sean Diljore and headquartered in Brisbane Australia, Simpro’s cloud-based software is an end-to-end field service management solution that streamlines field workflows to maximize workforces, enable business growth and increase profits.
Simpro has more than 200,000 users and 400 employees over five global offices.
Want to know more about Simpro? Visit our website.
ClockShark is the leading time-tracking and scheduling software built for construction, field service and franchises that want a simpler way to track employee time for dispersed teams, run payroll quickly and accurately, and understand job costs. Over 8,000 customers have replaced the hassle of paper timesheets with software that makes it easier to manage their work, their teams, their time and their bottom line.
AroFlo is a cloud-based field service management system for the trade and construction industries with over 25,000 users across Australia and New Zealand from businesses in plumbing, electrical, HVAC, facilities management, among many others. AroFlo helps trade businesses transform how they manage customer relationships, maintain assets, track inventory, run compliance, schedule teams and optimise cash flow. Highly scalable and adaptable to any operational requirements, AroFlo gives office and field teams the power of cloud-based automation and reporting at their fingertips.
K1 is a global investment firm that builds category-leading enterprise software companies. K1 partners with strong management teams of high-growth technology businesses to help them achieve successful outcomes. With over 110 professionals, K1 and its operating affiliate, K1 Operations LLC, change industry landscapes with operationally-focused growth strategies designed to rapidly scale portfolio companies. Since inception of the firm, K1 has partnered with over 170 enterprise software companies including industry leaders such as Apttus, Buildium, Checkmarx, Clarizen, ControlUp, Emburse, FMG Suite, Granicus, IronScales, Litera Microsystems, Onit, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved. For more information, visit k1capital.com and follow on LinkedIn.
About Level Equity
Based in New York, NY and San Francisco, CA, Level Equity is a growth equity firm focused on providing capital to rapidly growing software and internet companies. The firm manages over $2.9 billion across a series of long term committed investment partnerships. For more information about Level Equity, visit http://www.levelequity.com.