About Simfoni
Simfoni is a company based in Chicago (United States) founded in 2007 by Stefan Dent. Simfoni has raised $26 million across 3 funding rounds from investors including Kearney and PeakSpan Capital. Simfoni has completed 2 acquisitions, including EC Sourcing Group and Xeeva. Simfoni offers products and services including Spend Analytics, eSourcing, Tail Spend Management, and Procurement-as-a-Service. Simfoni operates in a competitive market with competitors including Intuit, Visma, Xero, Wave and FreshBooks, among others.
- Headquarter Chicago, United States
- Founders Stefan Dent
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Sectors
Technology
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Phone
*********
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Website
*********
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Social
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- Legal Name Simfoni Limited
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$26 M (USD)
in 3 rounds
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Latest Funding Round
$8 M (USD), Series B
Jun 05, 2023
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Investors
Kearney
& 1 more
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Employee Count
Employee Count
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Investments & Acquisitions
EC Sourcing Group
& 1 more
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Products & Services of Simfoni
Simfoni offers a comprehensive portfolio of products and services, including Spend Analytics, eSourcing, Tail Spend Management, and Procurement-as-a-Service.
AI-enabled tool for analyzing and classifying spend data
Platform for streamlining RFx and sourcing processes
Technology for handling unmanaged spend efficiently
On-demand tools for automated procurement tasks
People of Simfoni
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Funding Insights of Simfoni
Simfoni has successfully raised a total of $26M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $8 million completed in June 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $8.0M
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First Round
First Round
(23 Jan 2020)
- Investors Count 2
Investors in Simfoni
Simfoni has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include Kearney and PeakSpan Capital.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital firm focused on B2B software growth-stage companies.
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Founded Year | Domain | Location | |
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Provider of management consulting services
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Founded Year | Domain | Location |
Investments & Acquisitions by Simfoni
Simfoni has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include EC Sourcing Group and Xeeva.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Cloud-based procurement software solutions are provided for business operations.
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2014 | ||||
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Strategic eSourcing, RFP management, and vendor management platforms are provided.
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2001 |
Financial Statements - Simfoni
Simfoni Comparisons
Competitors of Simfoni
Simfoni operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Intuit, Visma, Xero, Wave and FreshBooks, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Financial and accounting software is developed for businesses and individuals.
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| domain | founded_year | HQ Location |
Cloud-based ERP software is provided for business management across segments.
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| domain | founded_year | HQ Location |
Cloud-based accounting and payment management is offered for small businesses.
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| domain | founded_year | HQ Location |
Web-based accounting software is offered for business use.
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| domain | founded_year | HQ Location |
Cloud-based invoicing and accounting software is offered for businesses.
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| domain | founded_year | HQ Location |
Cloud-based accounting software is provided for small businesses and freelancers.
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Frequently Asked Questions about Simfoni
Simfoni was founded in 2007 and raised its 1st funding round 13 years after it was founded.
Simfoni is headquartered in Chicago, United States. It is registered at Chicago, Illinois, United States.
Ron Emma is the current CEO of Simfoni.
Simfoni is a funded company, having raised a total of $26M across 3 funding rounds to date. The company's 1st funding round was a Series A of $3M, raised on Jan 23, 2020.
AI-based spend analysis and management solution for businesses. Its products include Virtuosi, a machine learning-enabled spend analytics platform that helps organizations gain insights from the data, Vitesse, a tail spend management solution, Sourceforce App for analytics, and reporting functionality for procurement project management and savings tracking.
Simfoni offers Spend Analytics, eSourcing, Tail Spend Management, and Procurement-as-a-Service.
Simfoni has made 2 acquisitions, including EC Sourcing Group, and Xeeva.
Simfoni has 2 investors. Key investors include Kearney, and PeakSpan Capital.