beqom, a Fribourg, Switzerland-based provider of a cloud total compensation solution, raised $35m in funding.
The round was led by Goldman Sachs.
The company intends to use the funds to accelerate worldwide growth by reinforcing its global presence, increasing the direct sales force and further developing indirect sales channels.
Created in 2009 and led by Fabio Ronga, CEO, beqom provides a total compensation and performance management solution that enables large global organizations to manage the reward of their people without compromise. 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. Currently, the company is managing about 2 million payees on its platform annually for over 100 of the world’s largest companies (e.g. Microsoft and Vodafone).