Marketing operations platform Simple has raised $17 million to roll out its new Intelligent Marketing Platform globally.
The round was led by retail rich lister Brett Blundy’s BBRC Private Equity, with existing investor Perle Ventures also increasing its investment in the martech company.
The cash will be used to accelerate Simple’s expansion into new markets in Europe and further develop its existing business in the US.
The funding follows a partnership with Microsoft’s cloud business which includes engineering and marketing support, as well as a co-selling arrangement expected to drive strong growth for Simple’s MRM software in key markets.
Last month Simple unveiled its new Intelligent Marketing Platform, which is built on Microsoft’s Azure Intelligent Cloud, on the global stage at Microsoft’s Inspire partners’ conference in Las Vegas.
CEO of Simple Aden Forrest, whose pedigree includes stints with Marketo, Salesforce and Siebel, said BBRC has a long history of scaling businesses.
“Simple is scaling up our US team to take full advantage of our Microsoft partnership and other alliances so we can disrupt the marketing resource management sector,” Forrest said.
“This funding injection enables us to bring forward our plans to do the same in other markets.”
BBRC Private Equity was established in April 2018 as part of the funds management division of Brett Blundy’s private investment company, BBRC.
BBRC Private Equity CEO Joseph Kim said the decision to invest in Simple was driven as much by the company’s leadership and values, as by its technology and market opportunity.
“We believe Simple has the opportunity to scale exponentially and win its market, with leadership that’s very consistent with our culture,” Kim said. “We look forward to a successful partnership with Aden and Perle Ventures.”
Australian venture capital firm Perle Ventures also participated in Simple’s previous funding round which raised $10 million in September 2016.
“Simple offers the solution to a perennial problem marketing teams face globally,” Perle Ventures managing director Michael An said. “BBRC shares our vision of what Simple can accomplish and we look forward to working together to help Aden and the team make this happen.”