Beeline, a global provider of cloud software solutions for Fortune 2000 companies to manage their non-employee workforces, received an investment from New Mountain Capital, a growth-oriented investment firm that currently manages over $20 billion in assets.
The amount of the deal was not disclosed. The transaction is expected to close in August 2018, following customary regulatory approvals.
The partnership will provide the company with strategic resources and financial capital to accelerate innovative product roadmap and expand globally.
Founded in 1999 and Doug Leeby, CEO, Beeline is an independent provider of cloud-based vendor management solutions. Its enterprise-grade, end-to-end sourcing, workflow, and decision-optimization platform allows employers to manage their extended workforce. Beeline enables procurement, finance, and human resource professionals to optimize costs, manage complex regulatory and compliance risks as well as gain actionable, real-time business intelligence into their non-employee workforce programs.
The company has offices in Chicago, Illinois, Sydney, Australia, Denver, Colorado, Jacksonville, Florida, London, United Kingdom, Manila, Philippines, and Troy, Michigan.