In the tech world, we refer to a same-day funding announcement and acquisition as a facquisition. It's cause for great celebration, most facquiring companies spend the day playing pin the tail on the donkey and eating overfrosted cake. I've even heard some entrepreneurs compare facquisition day to getting married or having a child, which sounds extreme yet believable.
For SLC-based Simplus, facquisition day has arrived. They are announcing two large pieces of information:
- First, a $20 million funding round led by Kensington – SV Global Innovations LP (“KSV”) with contributions from Savano Capital Partners, Salesforce Ventures, Cross Creek Advisors, EPIC Ventures, University Growth Fund, Simplus CFO Paul Fletcher, and G2 Crowd CEO Godard Abel.
- And second, acquisition of Australia-Based Sqware Peg, the sixth Salesforce consulting partner acquisition since 2016.
Both news tidbits continue a torrid growth period for Simplus. CEO Ryan Westwood recently penned an article for Silicon Slopes Magazine highlighting their red-hot 2018: acquisition of Silicon Valley-based CirrusOne; the release of CPQ-focused Salesforce Bolt, an accelerator for the manufacturing industry; new headquarters in downtown Salt Lake and the addition of numerous key executives; recipients of multiple awards for workplace culture from organizations like Comparably, Ion Television, and Utah Business. Westwood concluded with a simple statement that is even more relevant in light of today's news: "Our goal for 2019 is to grow stronger and faster as we continually strive to make complex things simple for our customers."