beqom Announces $300 Million Strategic Investment From Sumeru
beqom—the leader in cloud-based compensation management software—today announced a $300 million strategic investment from Sumeru Equity Partners (Sumeru).
“As workforces continue to become more global and the war for talent intensifies, best-in-class organizations are building innovative, equitable, and transparent compensation models, driving strong tailwinds for beqom”
beqom’s platform is used to streamline compensation management processes for Global 5000 customers, supporting mission-critical rewards processes that impact every employee in an organization. Managing over $300 billion in compensation, beqom’s total compensation solution provides companies of any size and industry, including Mercedes Benz, PepsiCo, Pictet, and DHL, with the flexibility needed to execute their reward strategies to make the most of their human capital.
Building upon beqom’s significant momentum of 100% year-over-year bookings growth in 2021, Sumeru’s investment will fuel additional growth in product innovation to better support Compensation and HCM leaders worldwide.
Given the competitive labor market, changing compensation structures, and strategic corporate initiatives including DEI and pay equity, every company must reconsider its rewards strategy. beqom’s compensation solution integrates with core HCM systems to enable competitive, fair, inclusive, and effective compensation strategies. Unlike other compensation management software providers, the beqom solution manages both broad-based HCM compensation and transactional sales incentives such as commissions on a single next-generation SaaS platform, giving customers a complete picture of total compensation.
“Compensation and rewards are at the heart of an organization’s employee experience—since 2009, we have developed software that helps our customers build exceptional workforces that are engaged and inclusive,” says Fabio Ronga, beqom CEO and co-founder. “We are thrilled to partner together with Sumeru to build a global standard for total compensation management. We feel strongly that Sumeru is the right fit as an investor, bringing not only capital but proven expertise and a perfect match in company cultures.”
Sumeru’s majority investment was led by John Brennan, Mark Haller, and Jialin Zhang. “As workforces continue to become more global and the war for talent intensifies, best-in-class organizations are building innovative, equitable, and transparent compensation models, driving strong tailwinds for beqom,” said Mark Haller, Managing Director at Sumeru. “We couldn’t be more excited to collaborate with the entire beqom team on the opportunities ahead to accelerate innovation and scale its customer base globally as the category-defining company in total compensation management software.”
beqom was advised by Houlihan Lokey and Sumeru was advised by Shea & Company. The closing of the investment is expected in Q2 subject to customary closing conditions.