beqom, which claims to be leader in Cloud-based compensation management software, recently announced a $300 million strategic investment from Sumeru Equity Partners.
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 more than $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.”
Fabio Ronga, beqom CEO and co-founder, stated:
“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. 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.”
Mark Haller, MD at Sumeru, remarked:
“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. 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.”
As mentioned in the update, beqom provides “a cloud-based compensation management solution that unifies all compensation and rewards processes on a single platform, from salary and bonus to deferred incentives and sales commissions.”
Designed to meet the sophisticated needs of leading enterprises, beqom “enables companies to attract and retain talent, engage and motivate employees, control costs, streamline processes, and ensure fair and compliant pay.”
beqom integrates “with core HCM software, providing the best-of-breed capabilities needed to implement effective compensation strategies worldwide, without compromise.”
beqom is reportedly used “across all industry sectors by leading global companies.”
As noted in a release, Sumeru “provides growth capital, strategic insight, and operating expertise to enterprise technology companies in North America and Europe.”
Their experienced team “partners with founders and company management to grow their business, build innovative products that delight customers, and hire great people.”