Simpplr raises $70M for its AI-powered intranet platform

Several years ago, entrepreneur Dhiraj Sharma’s first company, a software consultancy, was hired by an HR tech firm to develop an app to improve the employee onboarding experience. Instead of creating a one-off, ad hoc solution, Sharma spearheaded a platform, Simpplr, which later spun off into its own company.

Today, Simpplr sells what’s essentially an internal social network for companies — one that enables employees to create profiles, share content, follow users and engage in polls or surveys via a tailored intranet. Managers can create an employee directory, as well as social workspaces that can be customized for various teams and departments.

Business is booming, evidently. Simpplr this morning announced it raised $70 million in a funding round led by Sapphire Ventures with participation from Norwest Ventures, Tola Capital and Salesforce Ventures. The tranche, which adds to Simpplr’s previously raised $61 million, will be put toward growing the company’s workforce and supporting ongoing product R&D, Sharma says.