- Retail-performance platform provider SimpliField recently announced that it raised $11 million in Series A funding led by Five Elms Capital
Retail-performance platform provider SimpliField recently announced that it raised $11 million in Series A funding led by Five Elms Capital. And the company also announced it has opened a new NYC-based U.S. headquarters in Soho. SimpliField was originally founded in Paris a few years ago by Benjamin Zenou (CEO), Georges Plancke (CTO), and Jonathan Attal (COO).
What does SimpliField do? SimpliField helps leading brands such as LVMH, L’Oreal, Estée Lauder, Samsung and Sony reduce their costs, increase sales, and drive deeper customer relationships.
SimpliField’s mobile-first platform combines a one-stop-shop for real-time collaboration between store teams, field teams, and leadership at the company headquarters with a powerful analytical toolset, including customizable dashboards.
“Despite rumors to the contrary, retail is far from dead. Customers have simply evolved, and now delivering a consistently excellent customer experience across all your stores is an absolute criteria for success. Industry leaders are getting the message that, in order 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,” said Benjamin Zenou, CEO of SimpliField. “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.”
While most retail execution platform providers focus exclusively on providing tools to manage team tasks and workflow, SimpliField distinguishes itself by giving 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.
SimpliField plans to use its most recent funding round to significantly increase hiring in sales, marketing, and product development with a strong focus on expanding in the U.S. and continuing to build out a comprehensive suite of advanced performance and analytics solutions. SimpliField also plans to open up its new headquarters in New York at 116 Elizabeth Street.
This investment round was led by Five Elms Capital. Early investors Cap Horn and Runa Capital also joined the round.
“Retailers today all too often rely on disparate, outdated manual processes that simply don’t work, built on spreadsheets, emails and informal, insecure chat platforms, and guesswork,” explained Ryan Mandl, Managing Director at Five Elms Capital. “The SimpliField platform solves that pain with a simple, secure mobile and web-based platform for streamlined communications, improved visibility and insights they can use. We invested in the company because we believe in Ben and the leadership team, we believe in the product and we heard incredible feedback from the company’s customer base who is evangelical about the platform. Five Elms is excited to help SimpliField continue their path of growth and innovation.”