Field Agent has acquired France-based mobile-first, distributed-workforce management platform SimpliField, according to a press release.
"SimpliField's vision for efficient, customer-focused retail operations is perfectly aligned with our roadmap for ever-evolving retail solutions and tools," Rick West, Field Agent CEO and co-founder, who approves of the retail audit combination strategy, said. "With the acquisition, we're bringing together the power of the crowd with the extensive retail experience of both companies."
The objective of the agreement is to equip brands, retailers and restaurants with the resources to improve their overall retail operations. The acquisition was backed by an investment fund financed by Five Elms Capital.
"The net effect of the acquisition will be seen immediately," Benjamin Zenou, SimpliField CEO and co-founder, said. "SimpliField will capitalize on Field Agent's deep knowledge of the North American market as we support their expansion in EMEA."
With a collective revenue sum of more than $20 million, both parties count with a total of 150 employees and facilities across 10 global markets.
"Our current customers can supplement their teams by offloading simple tasks to the Field Agent crowd. It'll be a win–win for the client and the shopper alike," Zenou said.
Field Agent is credited with serving more than two million shoppers worldwide as they audit in-store prices, product availability, display compliance, among other features. The business objectives align with SimpliFields’, which specializes in helping companies leverage their retail teamwork, compliance and performance abilities. SimpliFields’ operations span 400,000 retail locations across 65 countries.
"We are excited to support the combination of two highly complementary companies who are transforming the way the retail sector operates in today's mobile-first environment," said Ryan Mandl of Five Elms Capital. "With their combined resources and strategy, we expect this acquisition to provide significant value and drive further innovation for existing customers."