Simpplr, the AI-powered intranet platform, announced on May 2, 2023, that it has raised $70 million in a funding round led by Sapphire Ventures with participation from Norwest Ventures, Tola Capital, and Salesforce Ventures.
This new tranche adds to Simpplr’s previously raised $61 million.
Simple's plans for the AI-intranet platform
Simpplr plans to use the funding to grow its workforce and support ongoing product research and development, according to CEO Dhiraj Sharma.
Simpplr’s platform, which leverages AI to improve employee communication, engagement, and productivity, has already attracted clients like Toyota, Twitter, and American Fidelity.
Succesful funding
Simpplr’s latest funding round follows a successful first quarter for legacy automaker Ford, which reported earnings on May 2, 2023.
This quarter marks the first time that Ford has broken down earnings by its individual business lines, including electric vehicles, autonomous driving, and mobility services.
Conclusion
In conclusion, Simpplr’s latest funding round demonstrates the continued demand for innovative workplace solutions that leverage AI to improve communication and productivity.
With the additional funds, Simpplr plans to expand its operations and improve its platform, which has already attracted a diverse array of clients from various industries.
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