Simble Solution’s placement oversubscribed

Simble Solutions Limited (ASX:SIS), an Australian software provider focused on energy management solutions, has taken another step towards the commercialisation of the Simble Energy Platform in Australia and the UK.

SimbleEnergy is an integrated hardware and software solution that enables businesses to visualise, control and monetise their energy systems. The company’s software-as-a-service (SaaS) platform has Internet of Things (IoT) capabilities and allows businesses to remotely automate energy savings opportunities to reduce their energy bill.

To support its growth the company today announced the successful completion of a $2 million oversubscribed placement of 13.3 million ordinary shares to institutional and sophisticated shareholders. The funds raised will be used to accelerate SIS’s growing sales pipeline in Australia and the UK.