Brisbane, Australia -- November 24, 2021 -- simPRO, a global leader in field service management software, announced on Nov. 24 that it had 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.
In addition to supporting the recent acquisitions, the funding will be used to accelerate product investment and scale global operations across the business.
“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.