simPRO Software has secured AUD$40 million in growth capital as part of an aggressive product innovation and expansion strategy that has seen the company enter the United States and the United Kingdom over the last two years.

The funding was secured from New York-based growth equity firm Level Equity. simPRO has been self-funded since it was established in Brisbane in 2002 and is currently owned by private shareholders, including current staff.

simPRO Software provides job management software for the trade service industry.

At the end of June 2016 simPRO had more than 2,500 clients and 80,000 users around the world, with clients ranging from small contracting operations through to corporate enterprises with thousands of staff.

simPRO Software chief executive Brad Couper said the investment by Level Equity would provide the capital to support a range of initiatives including product enhancements, growing customer support and marketing.

“We have set ambitious goals for our business over the next few years and believed a sophisticated investment partner with deep expertise in vertical market software could meaningfully enhance the velocity with which we achieve those goals,” he said.

“We have been flattered with a significant amount of interest in our business from investors around the globe and spent time with a range of partners both in Australia and the US before deciding on Level Equity.

“Level has a nuanced understanding of our business model and the end markets in which we operate. Their knowledge and capital will be an important asset for simPRO moving forward.”

A number of corporate staff from Australia including Brad Couper recently relocated to simPRO’s new offices in Boulder, Colorado, as part of a major push into the US market.

simPRO has been slowly introducing its software platform to the US market since mid-2015, but plans to embark on a rapid growth strategy, launching in up to four states throughout the US over the next 12 months starting with Colorado.

The business already attracts integrations with a range of global leading third-party software providers, such as Intuit, Xero, MYOB and many industry wholesalers.

Brad said product development and enhancement remained a core focus for the company and would unpderpin its future success.

“Our goal is to be the dominant contractor software platform around the world. To do that we need to continue to lead the way in innovation for our clients and be adaptable to their changing needs,” he said.

“We want to be more than a software solution. We want to help our clients pursue what they are passionate about, whether it’s business growth, personal wealth or the freedom to pursue life outside of work: we call it the simPRO journey.”