SimpliField, a retail-performance platform provider, has announced a US$11-million Series A funding, led by US-based growth equity investor Five Elms Capital, to fuel rapid expansion in North America.
At the kickoff of the 2020 NRF Conference, the Paris-launched startup also announced the opening of its new NYC-based US headquarters at 116 Elizabeth Street, on the border of Manhattan’s Nolita and Soho neighborhoods, in early February.
Launched in 2016, SimpliField said it helps leading brands and retailers like LVMH, L’Oreal, Estée Lauder, Samsung, and Sony reduce costs, increase sales, and drive deeper, longer-lasting customer relationships.
The company’s mobile-first platform combines a one-stop-shop for real-time collaboration between store teams, field teams and leadership at HQ with a powerful analytical toolset, including customizable dashboards.
The SimpliField platform gives team members at all levels the critical data and game-changing insights they need to make smart decisions, while also providing them with the easy-to-use planning, communication, execution and performance-management tools they need to deliver meaningful impact on store and team results.
The company plans to use its most recent fundraising round to significantly increase hiring in sales, marketing, and product development — with a strong focus on expanding in the US and continuing to build out a comprehensive suite of advanced performance and analytics solutions.
“Despite rumors to the contrary, retail is far from dead. Customers have simply evolved, and now delivering consistently excellent customer experience across all your stores is an absolute criterion for success,” said Benjamin Zenou, CEO of SimpliField.
Zenou added that industry leaders are getting the message that, to survive and thrive, they need to empower everyone – from the leaders at HQ to employees in stores and in the field – with the critical tools, guidance, and insight they need to execute flawlessly.
SimpliField is the only platform on the market that drives improved performance for retailers and brands by making the right data actionable by the right person, at the right time, in the right store — while also giving them the tools to take direct action on the data, Zenou claimed.
Early investors Cap Horn and Runa Capital also contributed to the Series A round.