Subjects: FNC, CXP
Beezy secures a $16M senior secured credit facility from Goldman Sachs Merchant Banking Division to transform Employee Experience in the Enterprise
SAN FRANCISCO, Jan. 21, 2020 /PRNewswire/ -- Beezy Inc., the Intelligent Workplace solution for Microsoft Office 365, SharePoint and Teams, today announced it has recently closed a $16,000,000 senior secured credit facility from Goldman Sachs Merchant Banking Division to accelerate growth and continue with its ambitious international expansion plan.
Beezy is experiencing impressive growth driven by the increasing need for large organizations to deliver a ready-built Digital Workplace for Office 365 designed to improve collaboration, engage a geographically spread workforce and increase productivity. The company is also the only vendor that can deliver its award-winning solution through Microsoft Teams, the fastest growing business application in Microsoft's history.
In just the last year, Beezy has seen 3x growth in the number of users, now reaching employees in over 80 countries and 16 languages across the globe. It has also achieved a 70 percent compound growth rate of its annual recurring revenue for the last three consecutive financial years.
Beezy will use the newly acquired funds to expand its international operations and further strengthen its investments in product innovation, sales, marketing, and customer success to deliver a white-glove service to its expanding roster of world-class enterprise customers.
Additionally, this financing round will support the company's aggressive hiring plans which include opening a New York office and staffing the newly established Singapore office. Beezy currently employs 60 people and expects to double its headcount in 2020 to meet the growing market demand for its leading Intelligent Workplace solution.
Jordi Plana, CEO, founder and major shareholder of Beezy expressed:
"We feel honored by this endorsement of the potential for growth and global expansion through the financing provided by Goldman Sachs Merchant Banking Division.
This investment will help Beezy boost the transformation of the Employee Experience in the Enterprise. Our Intelligent Workplace solution is already used by global brands and helps them solve their challenges around employee communications and engagement, productivity and company culture. The capital inflow will allow us to continue with our R&D investments in Artificial Intelligence and UX of the product, and to scale our world-class customer success practice to cope with the growing market demand."
About Beezy
Beezy is the all-in-one Intelligent Workplace for Microsoft Office 365 and Teams. By extending the Microsoft productivity stack, we empower users to communicate, share and collaborate better, whether on-premises, in the cloud or in hybrid environments.
Large customers such as Banco Santander, ZF, Bank of England, CaixaBank, Finning, IHS Markit and many more can now benefit from the full functionality of an intelligent, modern digital workplace that brings together Collaboration, Communication, Knowledge and Processes.
About Goldman Sachs Merchant Banking Division
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm's long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.
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