Beeline, a workforce management platform, has received an investment from New Mountain Capital.
This partnership with New Mountain will give Beeline ‘significant strategic resources and financial capital’ to help accelerate its roadmap, and global expansion.
Founded in 1999, the company offers cloud-based vendor management solutions helping companies with end-to-end sourcing, workflow, and decision-optimization platform. Its services help finance, procurement and human resource teams while managing regulatory and compliance risks.
The company’s resource tracking services enables businesses to automate their onboarding processes, with the solution taking care of background checks, asset management, and access management. It will also perform the necessary due diligence through an automation of compliance management.
Other than compliance tools, its can provide an enterprise visibility into their workforce spend, through a streamlining tracking system which collects bill rates, assignment durations and planed work hours and spend.
New Mountain Capital managing director Lars Johansson said, “We look forward to working closely with the Beeline team in its next phase of growth. We are excited to support Beeline’s continued investment in its innovative, market-leading product. We believe there is a significant opportunity to continue the company’s global growth and commitment to customer success.”
William Blair & Company and Lazard served as financial advisors to Beeline, while UBS served as financial advisor for New Mountain Capital.
Earlier in the year, New Mountain Capital sold its stake in ACA Compliance Group, a provider of risk management and technology solutions for the financial services industry.
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