US-based quote-to-cash implementation provider Simplus secured more than $7m in series A funding on Friday from investors including Salesforce Ventures, the corporate venturing subsidiary of cloud computing business Salesforce.
The round was led by Epic Ventures and also featured venture debt and equity provider Silicon Valley Bank. Additionally, Simplus revealed it has acquired quote-to-cash services provider BaldPeak Consulting, though terms were not disclosed.
Simplus offers Salesforce consulting and development services, aimed at helping companies streamline workflows and business processes. The company specialises in Salesforce’s Quote-to-Cash platform, a division formerly known as SteelBrick before a $360m acquisition by Salesforce in December 2015.
The series A capital and acquisition will fuel Simplus’ continued growth. The company hopes to acquire additional startups in the future.
Silicon Valley Bank and Epic Ventures previously took part in a $4.2m seed round in July 2015 alongside Infinite Investments, Prelude Service, Provider Capital, several Simplus employees, and assorted angel investors including Godard Abel, then chief executive of SteelBrick.
Ryan Westwood, chief executive of Simplus, said: “We are fortunate to be backed by Salesforce Ventures and we plan to use the funding to acquire other Salesforce Quote-to-Cash partners in our journey to grow the best team of experts in the world.”