The company will use the funds to accelerate growth in product innovation to support Compensation and HCM leaders worldwide.
Given the competitive labour market, changing compensation structures, and strategic corporate initiatives, including DEI and pay equity, every company must reconsider its rewards strategy, writes beqom.
“Compensation and rewards are at the heart of an organisation’s employee experience—since 2009, we have developed software that helps our customers build exceptional workforces that are engaged and inclusive,” says Fabio Ronga, CEO and co-founder of beqom.
“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,” he adds.
beqom: What you need to know
Founded by Fabio Ronga, Stephan Pohl, Tanya Jansen, and Yves Steinhauser, 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.
beqom’s solution integrates with core HCM systems to enable companies to attract and retain talent, engage and motivate employees, control costs, streamline processes, and ensure fair and compliant pay. Currently, the company streamlines compensation management processes for Global 5000 customers.
Managing over $300B in compensation, beqom’s total compensation solution helps companies of any size and industry, including Mercedes Benz, PepsiCo, Pictet, and DHL.
Based out of California, Sumeru Equity Partners provides growth capital, strategic insight, and operating expertise to enterprise technology companies in North America and Europe. 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 organisations are building innovative, equitable, and transparent compensation models, driving strong tailwinds for beqom,” says Mark Haller, Managing Director at Sumeru.
He adds, “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.”