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Simpro raises $350M as demand grows for field service automation software
Nov 23, 2021 | Venture Beat
Picture - Simpro raises $350M as demand grows for field service automation software

Field service management, which refers to the management of jobs performed in the field (e.g., telecom equipment repair), faces continued challenges brought on by the pandemic. While the number of customer service inquiries has increased as enterprises have adopted remote work arrangements, worker availability has decreased. Forty-seven percent of field service companies say that they’re having trouble finding enough quality technicians and drivers to meet business goals, according to a Verizon survey. The shortfall in the workforce has increased the burden on existing staff, who’ve been asked to do more with fewer resources.

Against this backdrop, Simpro, a field service management software company based in Brisbane, Australia, today announced that it raised $350 million from K1 Investment Management with participation from existing investor Level Equity. The new funding brings Simpro’s total capital raised to nearly $400 million, which CEO Sean Diljore says will be put toward product development and customer support with a particular focus on global trade and construction industries.

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