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.”