Simbe Raises $50 Mn in Series C Funding Led by Goldman Sachs
The new capital, which brings the total amount raised by Simbe to over $100 million, will be used to meet surging demand for retail technology across retail verticals.
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Simbe, a provider of Store IntelligenceTM solutions, announced the closing of a $50 million Series C equity financing round led by Growth Equity at Goldman Sachs Alternatives (“Goldman Sachs”), with participation from Eclipse and Valo Ventures and other existing investors.
Since raising its Series B in July 2023, Simbe has achieved significant momentum and milestones such as introducing multiple capabilities and securing numerous new and expanded partnerships across various retail sectors. The new capital, which brings the total amount raised by Simbe to over $100 million, will be used to meet surging demand for retail technology across retail verticals, expand into new product areas, and continue scaling its best-in-class solutions to retailers and brands around the world.
Since introducing the world’s first advanced autonomous item-scanning robot, Tally, Simbe has refined, expanded, and scaled its platform to power automated shelf intelligence for the largest number of retail banners in the world. Through computer vision, AI, and robotics, retailers and their vendors gain unprecedented visibility into store and shelf conditions – ultimately driving data-driven decisions across all channels, stronger business performance, and enhanced store team and shopper experiences.
This year, the company announced new and expanded partnerships with major retailers and their banners, including SpartanNash (Family Fare, Martin’s Super Markets, D&W Fresh Market, VG’s Grocery), Wakefern Food Corp. (ShopRite), Northeast Grocery (Market 32, Price Chopper Supermarkets, Tops Friendly Markets), Albertsons Companies (Market Street, United Supermarkets, Albertsons Market), and CarrefourSA, while continuing to strengthen existing partnerships with BJ’s Wholesale Club, Schnuck Markets, Inc., and multiple Fortune 500 retailers yet to be formally announced.
Simbe powers automated shelf intelligence for leading retailers across three continents and is the only retail technology vendor delivering proven value at scale with multiple chain-wide deployments and long-standing customer successes.
“Retail is a cornerstone of modern society, yet physical stores remain burdened by what we call the last great data desert—knowing precisely what’s happening on store shelves. In partnership with top global retailers, Simbe is building the essential system of record to power retail’s operating layer,” said Brad Bogolea, Simbe’s Co-Founder and Chief Executive Officer.
“Goldman Sachs is renowned for supporting and scaling enterprise technology and automation companies, and this new capital underscores our vision to transform retail with true in-store visibility. Simbe’s technology will power every store, improving the experience for every retailer, brand, employee and shopper.”
In 2024, Simbe introduced numerous products and capabilities, including:
- Simbe Brand Insights, which extends the enormous value of near real-time, shelf-level data to retailers’ vendors, brands, and manufacturers for the first time, strengthening partnerships, performance, and the retail experience for all;
- Simbe Virtual Tour, which allows retailers to view their stores from anywhere in the world at a depth and frequency that’s never been possible before;
- Simbe Mobile, which streamlines work for store teams by providing a prioritised list of pricing and restocking tasks in near real-time, right at their fingertips;
- Simbe Wholesale Club Solution, the industry’s first and only shelf-intelligence platform designed specifically for wholesale club environments.
“Retail automation is a rapidly growing sector, and Simbe is well-positioned to capitalise on the enormous market opportunity due to its strong track record with top global retailers, underscoring its proven impact at scale and strong capabilities,” said Ben Fife, Investor, Growth Equity at Goldman Sachs Alternatives.
“We proactively led Simbe’s $50 million round because we recognise their distinct ability to steer retail transformation and meet surging demand for AI and robotics. It’s only a matter of time until we see technology like Simbe’s in every retail store.”
Proceeds will be used to accelerate global deployments, broaden retail offerings, and pursue strategic growth opportunities. Simbe will also expand its team, which grew by 100% in the past year with the addition of top talent at the leadership level and beyond, to further propel the future of retail and the next phase of company growth.
