Simbe expands into farm supply sector as Country Supplier deploys store intelligence technology

US retailer Country Supplier is expanding its use of Simbe technology chain wide at all C-A-L Ranch stores and Coastal Farm & Ranch stores in six states.

The deployment marks Simbe’s expansion into a new sector, farm supply.

Country Supplier’s decision follows a proof of value with the company, which had the following results: 25% improved on-shelf availability; 90% improved price accuracy; two weeks’ work dedicated from manually scanning 100K+ products.

In a LinkedIn post, Simbe said: “Country Supplier joins retail champions across many sectors and sizes who enhance the associate and shopper experience by automating manual, labour intensive inventory tasks with in-store intelligence. It is playing to win, and nothing speaks louder than customer success! We’re so proud to power the most retail banners in the world.”

Funding news

Simbe recently closed a $50 million Series C equity financing round led by Growth Equity at Goldman Sachs Alternatives, with participation from Eclipse and Valo Ventures and other existing investors.

Since raising its Series B in July 2023, it has achieved milestones such as introducing multiple capabilities and securing numerous new and expanded partnerships across various retail sectors.

The new capital, which brings the total amount raised to over $100 million, will be used to meet demand across retail verticals, expand into new product areas, and continue scaling its solutions to retailers and brands around the world.

Since introducing its autonomous item scanning robot, Tally, Simbe has refined, expanded, and scaled its platform to power automated shelf intelligence.

"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,” said Brad Bogolea, Simbe’s Co-Founder and Chief Executive Officer.

“Goldman Sachs is renowned for supporting and scaling enterprise technology and automation companies, and this new capital underscores our vision to transform retail with true in-store visibility. Simbe’s technology will power every store, improving the experience for every retailer, brand, employee and shopper.”

“Retail automation is a rapidly growing sector, and Simbe is well positioned to capitalise on the enormous market opportunity due to its strong track record with top global retailers, underscoring its proven impact at scale and strong capabilities,” said Ben Fife, Investor, Growth Equity at Goldman Sachs Alternatives.

“We proactively led Simbe’s $50 million round because we recognise their distinct ability to steer retail transformation and meet surging demand for AI and robotics. It’s only a matter of time until we see technology like Simbe’s in every retail store.”

2024 RTIH INNOVATION AWARDS

Simbe was among the finalists at the sixth edition of the RTIH Innovation Awards.

The awards, sponsored by Vista Technology Support, Scala, CADS, 3D Cloud, Brightpearl by Sage’s Lightning 50, Business France, and Retail Technology Show 2025, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended last month’s gathering.