Digital B2B Opps: Simpplr completes Series D funding round (Score 68)

Sales lead: The company may use a portion of these new funds to increase ad spend or hire agency partners. 

• Simpplr wrapped up a Series D funding round worth $70m in May 2023
• This brings the company's valuation to $131.1m.
• Sapphire Ventures led the funding round.
• The company will use these funds for growth and innovation.

Recent DM shifts:

• Paige Leidig joined as CMO in August 2022.
• Michael Baglietto joined as senior product marketing director in December 2022.
• Tatyana Grinenko was promoted to senior digital marketing manager in February 2023. 

Target demographic: Businesses that need employee experience services

The company will likely:

• Ramp up ad spend
• Diversify ad placement
• Seek agency assistance

Digital and social insights (digital ad spend, effectiveness, impressions, and performance)

• YTD spend: Simpplr has not allocated any budget toward digital display ads so far this year.
• 2021-2022 spend: Full-year spend jumped from $2.3k in 2021 to $64.3k in 2022. 
• 2022 data: 9.8m impressions via Facebook (56%), desktop display (35%), and Instagram (8%). 
• Ad location: It placed 83% of these ads directly onto sites such as facebook.com, instagram.com, sparkpeople.com, bodybuilding.com, and whatculture.com. It placed 17% of these ads through multiple indirect channels onto sites such as tumblr.com, historydaily.org, carsdirect.com, wordtwist.org, and investingfuel.com. 

Agency analysis:

• Opportunity: Reach out to see if Simpplr needs any of your services. 
  • Simpplr does not work with any agencies to the best of my knowledge. 

Insight Sources: Digital spend insights estimated by Pathmatics.