Last Updated: 9 November 2024
Simbe Robotics, a leader in retail automation technology, has secured $50 million in Series C funding, led by Growth Equity at Goldman Sachs Alternatives. With additional backing from Eclipse and Valo Ventures, Simbe's total funding now exceeds $100 million. This investment will drive the global expansion of Simbe's retail automation solutions and enhance their product offerings.
Founded in 2014 by Brad Bogolea, Jeff Gee, and Avery Louie, Simbe Robotics has led the way in retail automation. The San Francisco-based company developed Tally, an autonomous robot that uses computer vision and AI to monitor store shelves and inventory in real-time. Tally provides insights on stock levels, pricing, and promotions, helping retailers manage inventory more effectively and improve customer experiences. Major retailers such as Wakefern Food Corp., CarrefourSA, and BJ’s Wholesale Club are already using Tally to reap these benefits.
The recent Series C funding round, led by Goldman Sachs, reinforces Simbe's strong market position and innovative technology.
"Retail automation is a rapidly growing sector, and Simbe is well-positioned to capitalize on the enormous market opportunity due to its strong track record with top global retailers, underscoring its proven impact at scale and strong capabilities"
Ben Fife, Investor, Growth Equity at Goldman Sachs Alternatives
The new funds will be used to meet increasing demand for automated retail solutions, expand into new product areas, and scale their services globally. This includes team growth and new leadership roles to support expansion.
In 2024, Simbe introduced new features to improve retail operations, such as tools for real-time shelf data, remote store monitoring, streamlined restocking tasks, and tailored solutions for wholesale clubs. These innovations demonstrate Simbe's dedication to providing automation tools that enhance efficiency and customer satisfaction.
Since its inception, Simbe has continually enhanced its platform, establishing itself as a leader in automated shelf intelligence. Tally, the world’s first advanced autonomous item-scanning robot, provides unmatched visibility into store and shelf conditions, empowering retailers to make data-driven decisions that enhance business performance.
In 2024, Simbe expanded partnerships with major retailers, including SpartanNash, Wakefern Food Corp., and CarrefourSA. The company also reinforced relationships with BJ’s Wholesale Club, Schnuck Markets, Inc., and several Fortune 500 retailers.
Simbe's solutions are now deployed across three continents, showcasing their value through extensive chain-wide rollouts.
Co-Founder and CEO Brad Bogolea emphasized Simbe's mission to address the "last great data desert" in retail: gaining real-time insights into store shelves.
"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."
Brad Bogolea, Co-Founder and CEO, Simbe Robotics
With the new Series C capital, led by Goldman Sachs, Simbe aims to accelerate deployments worldwide, grow its team, and pursue strategic growth opportunities. The company's vision is to transform the retail industry by offering in-store visibility that benefits retailers, brands, employees, and customers alike.
