Proactive Investors - Run By Investors For Investors

Simble Solutions gaining momentum after $1 million sales milestone

The Simble Energy Platform is a bundled software and hardware solution.
laptop with SimbleSense software on the screen
The software help's company's manage their electricity usage

Simble Solutions Ltd (ASX:SIS) has reached a milestone after cumulative orders for its energy platform surpassed $1 million across Australia and the United Kingdom.

The company offers energy management and mobility software-as-a-service (SaaS) solutions.

It has developed an electricity consumption analysis and management software SimbleSense that enables businesses to visualise, control and monetise their energy systems.

February 2018 IPO

The company listed on the ASX in February 2018 raising the maximum $7.5 million by issuing 35 million shares priced at 20 cents each.

The energy management systems market is estimated at $43 billion and is forecast to grow by 18.8% per annum to 2021.

Channel strategy delivering sales momentum

Simble’s channel orientated sales and marketing strategy has delivered promising early results six months after securing its first large scale channel partners.

The company’s primary distributor in Australia, Synnex Australia, has placed its second material order for the Simble energy platform bundle to replenish stock and cover expected sales by Simble’s partners.

Simble continues to execute on its growth strategy, expanding the depth and size of its distribution network.

Discussions with Synnex reseller partners are also currently underway to further expand the company’s channel network.

Momentum to support sales activity

Simble’s CEO Fadi Geha said: “Passing the million dollar milestone within months of launching to our large channel partners is exciting, however it is just the beginning.

“We are scratching the surface in terms of the sales velocity these partners can achieve and look forward to ramping up activity to meet market demand.”

View full SIS profile View Profile

Simble Solutions Ltd Timeline

Related Articles

coal mine
April 01 2019
Lesedi is one of two projects Tlou has in Botswana and comprises five CBM prospecting licences
oil well
May 02 2019
US Oil & Gas has submitted an application to frack the Eblana-3 well along with a hydrogeology report.
Iofina plant
Thu
Chief executive Dr Tom Becker said 2018 was an "exceptional year" and the momentum has continued into early 2019

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use