L Capital invests $4 mn in Simparel
L Capital Partners, L.P. has invested $4 million in the Series A round of financing of Simparel, a N.Y. technology company that has developed a new generation of ERP solutions with numerous advantages over traditional software systems. Simparel offers a unique combination: the simplest, quickest, most flexible and most affordable global supply chain business solution available. Simparel is also rolling out Software as a Service (SaaS) to selected customers.
Simparel's initial market is fashion-related businesses, including apparel, footwear, accessories, costume jewelry, as well as home furnishings and toys. Simparel gives its customers a competitive advantage because the technology allows them to focus on their product and sales, improve deliveries and better manage costs and inventories.
John Levy, a partner at L Capital Partners says: “Simparel delivers a complete solution in a fraction of the time and at a fraction of the cost of traditional ERP systems. This is particularly attractive to the apparel industry with its unique characteristics, such as rapid product cycles. Simparel's recent launch of SaaS enables Simparel to capture other markets and smaller companies that could not afford traditional ERP systems, but have many of the same needs as larger companies.”
Oded Weiss is a partner and CFO of L Capital Partners. As former Vice President at Mantero USA, he brings a depth of experience from the fashion industry to Simparel. Mr. Weiss adds: “We believe the market for Simparel will be huge. It is a tremendous investment opportunity for L Capital because of the growth potential both in current and future markets.
The Simparel system is so adaptable and easily-tailored that it can expand beyond the apparel and fashion- related businesses to numerous other industries that are characterized by quick market response to ever-changing consumer demands.”
L Capital Partners is a midsized venture capital firm that looks for breakthrough ideas and helps companies bring groundbreaking products to market. The investment strategy focuses on identifying two core pieces: a breakthrough technology and a terrific management team. Simparel fit in with L Capital's overall strategy on both fronts.
Ron Grilli is the CEO of Simparel and has more than 30 years of experience in the marketing, development and implementation of global supply chain solutions for numerous well-known companies in the apparel and fashion-related sectors.
Grilli says: “My team and I really know this space. Prior to starting Simparel, we managed the implementation of software systems for brands including Warnaco, Phillips Van Heusen, Liz Claiborne, Jones NY, Ann Taylor, Nautica and Theory. Our current customers find that Simparel can cut the cost of implementation by at least one third and the time from start to finish by half.
In addition, Simparel fixes a frequent complaint from customers that have used traditional platforms who say they are stuck with the initial system. Simparel adjusts to customers changing needs, so customers don't have to conform their business processes to someone else's ERP model.”