Goldman Sachs invests $35m in beqom

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28.07.2017
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Beqom, a Fribourg based startup offering a cloud based total compensation solution, has received a $35m investment from Goldman Sachs. The funds will be used to accelerate beqom’s worldwide growth by reinforcing its global presence, increasing the direct sales force and further developing indirect sales channels.

“We initially spotted beqom because we had identified the market they are in as a strong opportunity for growth,” says Chris Resch, Executive Director, Private Capital Investing at Goldman Sachs. “When we later met with beqom, we saw a unique solution with an impressive customer list and a very experienced team.”

Beqom’s total compensation and performance management solution enables large global organizations to manage the reward of their people without compromise. beqom’s current customer base consists of over 100 of the world’s largest companies.

beqom’s growth strategy has been focused on building a strong foundation of industry leaders successfully driving value from the beqom solution. Currently beqom is managing about 2 million payees on its platform annually. There are still over 130 million employees of the world’s largest companies for whom beqom is a perfect fit.

“With this foundation, made of a unique solution, well-known loyal customers and a strong employee culture, it‘s time for us to tell all the large enterprises worldwide what we can do for them and their employees” says Fabio Ronga, beqom CEO. “While this will translate into an acceleration of growth, it requires investments that we couldn’t self-finance”.

The reasons beqom selected Goldman Sachs to support the company in this new phase include the bank’s capacity to provide the necessary funding required by the large market opportunity beqom is addressing, Goldman’s unique understanding of beqom’s value proposition and the entrepreneurial fit between the beqom and the Goldman Sachs teams.

“At the beginning of our fund raising process, we included Goldman Sachs on our list of preferred investors because of their name and reputation. We ended up selecting Goldman Sachs because of the people we met there,” said Ronga.

About beqom
With the headquarters in Fribourg, beqom is present in six other countries including Italy, Germany, France, UK, Turkey and the Netherlands. The startup's mission is to drive happiness by allowing business managers to lead, align and motivate employees and partners.beqom’s cloud based total compensation platform is used globally across all industry sectors by over 100 large companies such as Microsoft and Vodafone. It addresses all performance and compensation aspects such as salary review, bonus, long-term incentives, commissions, benefits, non-cash rewards and all key drivers towards Employee Performance Management and Sales Performance Management. HR, sales and finance organizations leverage our platform to drive performance, retention, cost optimization and happiness among their people.

Picture: 089photoshootings

(Press release)

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