Simbe Raises $50 Million in Series C Funding Led by Growth Equity at Goldman Sachs Alternatives

SAN FRANCISCO, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Simbe, a leading provider of Store Intelligence™ solutions, today 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 industry-leading 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. Today, Simbe powers automated shelf ...