Chicago-based SIM Partners announced today that it has raised $8 million in a Series A Funding round.
Led by River Cities Capital Funds and Jump Capital, the funding will allow the company to further enhance its software platform Velocity, which is used by businesses to maximize social, search and mobile marketing at a location level through automation and scalability, according to a news release.
“SIM Partners’ Velocity technology empowers enterprise brands with hundreds or even thousands of locations to create and manage their own strong digital presence in a branded, corporate-approved environment,” Rob Heimann, Director at River Cities Capital said in the release. “Local digital marketing drives the best ROI for large multi-location brands and SIM provides the most efficient and effective solution for the complex issue of multi-site brand management. It was a clear choice for River Cities to form this investment partnership.”
The funding will allow the company to double its staff and move its headquarters from Evanston to the Loop, according to Crain's.
“SIM works with many blue chip clients and has a strong foothold in several industries, including financial services, insurance, healthcare, hospitality and home services,” Sach Chitnis, Managing Director at Jump Capital also said in the release. “We see tremendous opportunity for SIM to go both deeper and wider within numerous verticals.”
Photo via SIM Parnters
