Beekeeper doubles revenue over the pandemic, captures more than $100M in total funding and launches new product suite
Beekeeper, the leading frontline success system, today announced it has raised $50 million in Series C funding after more than doubling revenues since the start of the pandemic. New investors like EGS Beteiligungen and Kreos Capital joined the round alongside existing investors Energize, Thayer, SwissCanto, Keen Ventures, Alpana Ventures, Edenred Capital and Verve Capital. Beekeeper plans to use this round of funding to grow, continue to invest in product development and establish its leadership in the frontline success category.
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Beekeeper's new Frontline Workspace (Graphic: Business Wire)
"The disconnect between employers and their frontline employees is at an all time high, causing staff shortages and burnout that comes at a hefty economic price," said Dr. Cristian Grossmann, co-founder and CEO, Beekeeper. "This round of investment validates Beekeeper's mission to tackle this disconnect and overcome the crippling status-quo it creates. Our mobile-first, frontline success system connects workers to the people, processes and information they need to be productive, engaged, and safe at work. This new way of working gives our customers an unmatched competitive advantage during challenging times."
"Our investment in Beekeeper comes at a critical time for the frontline workforce. As more industries from manufacturing through to hospitality continue to grow in a challenging global economy, businesses have to keep innovating. Beekeeper is the best in class, mobile-first platform, designed to address frontline business challenges," said Sean Dunne, General Partner at Kreos Capital.
"More than 80 percent of the global workforce are deskless workers, and as digitization scales and transforms nearly every sector of the economy, there is increasing demand to connect and enable frontline workers with new technologies," said Juan Muldoon, partner at Energize Ventures. "We believe Beekeeper has set the benchmark for frontline success in industries that are instrumental to the buildout of a sustainable economy from manufacturing and construction to transportation and logistics. We are excited to continue partnering with Beekeeper as they unlock greater efficiency and connectivity among frontline businesses."
Since 2020, Beekeeper has seen exceptional growth with thousands of frontline business locations now using the Beekeeper platform in more than 150 countries, which continues to drive investor excitement. From hospitality and retail to manufacturing and construction, Beekeeper is helping customers in key frontline industries thrive during the pre and post-pandemic eras.
"When we opened in the middle of the pandemic, we needed a modern, innovative way for team members to collaborate and work together to provide our guests a world-class experience. And we wanted to weave it into our resort's operations from their first day on the job. Working with Beekeeper helped us scale quickly and offered a level of security that we needed with so many workers sharing information on their personal devices. When the resort opened its doors, more than 5,000 team members were already up and running on the app and ready to welcome guests. In a fast-paced industry where every second counts, giving staff an easy to use, mobile-first solution that facilitates real-time, enterprise-wide collaboration is a game changer," said Bob Napierala, VP of Human Resources, Resort World Las Vegas.
Beekeeper's $50 million Series C round brings the company's total funding to date to more than $100 million, further demonstrating the industry need for comprehensive frontline success technology. In turn, Beekeeper's staff has grown to more than 200 team members across the United States and Europe and the company is continuing to hire.
Recent executive hires continue to build out a highly-experienced commercial team, including:
- Kevin McKeown, Chief Revenue Officer, who leads the worldwide go to market teams with a focus on customer growth.
- Sarah Moore, Chief Marketing Officer, who oversees the company's global marketing strategy.
- Shawn Lim, Vice President of Customer Success, who is focused on growing the company's customer base and maintaining customer satisfaction.
Beekeeper also added Craig Bumpus to the Board of Directors. Craig brings a wealth of knowledge about accelerating growth from his experience at market-leaders like UiPath and Nutanix.
Rapidly Adding Value with a New Product Suite
In addition to an increase in funding, Beekeeper continues to innovate quickly to address the great frontline disconnect, and has added several new capabilities to its mobile-first platform, Beekeeper's Frontline Success System. The new product suite includes:
1. Frontline Workspace: At the core of Beekeeper's Frontline Success System is the Frontline Workspace, which aims to improve three main areas for its users:
- Employee Services: easy access to workers' shifts, payslips, training and onboarding information
- Comms Collaboration: allows two-way communication, connecting the frontline worker to their teams, their colleagues, managers on the floor and those in HQ
- Productivity: providing frontline workers with intuitive tools to accomplish their work quicker and more efficiently
2. Employee Referrals: As frontline businesses struggle to fill open roles, Beekeeper's Employee Referrals solution helps companies fill positions faster, retain more employees and lower recruitment costs. In just four steps, the mobile-first platform can inform, collect, track and reward employees for their referrals. Beekeeper customers are already reporting initial benefits, stating that 30% of those referred are hired and stay at their jobs twice as long.
- View Beekeeper's Employee Referral product video.
- View Beekeeper's Wanzek Construction case study, showcasing how the customer successfully generated 500+ employee referrals in three months.
3. Employee Onboarding:Given that the first 90 days of employment are crucial for an employee's success, Beekeeper's new Employee Onboarding program for frontline employees is a scalable solution to onboarding new hires faster and at less cost. The frontline-focused onboarding engages new hires from day one and optimizes the employee lifecycle with a communication plan that reinforces critical touchpoints of the new hire journey. It provides the automation organizations need to deliver personalized training new hires want.
- View Beekeeper's Employee Onboarding product video.
- View Beekeeper's Concord Hospital case study, showcasing how the customer used the solution to improve onboarding and communications.
4. Safety Management: Beekeeper provides a mobile-first Safety Management Solution designed for frontline teams to optimize their safety culture in four ways: training, accident prevention, accident reporting and safety metrics.
- View Beekeeper's Health and Safety product video.
- View Beekeeper's Amsted Rail case study, showcasing how the customer greatly improved its health and safety guidelines with Beekeeper and got employees back to work quickly following the pandemic.
Grossmann concludes, "I've never been more excited about Beekeeper's work and the future we are building for frontline success. The disconnect between employers and the frontline is too great to ignore, and the level of support we've received from investors, customers and partners to revolutionize the employee experience for deskless workers underscores how critical our mission has become and highlights that the demand for frontline-focused technology is higher than it's ever been."
About Beekeeper
Beekeeper empowers frontline businesses and their workers with the digital solutions they need to do their best possible work. Founded in 2012, Beekeeper's mobile-first platform was designed and built for deskless employees who despite representing 80% of the global workforce have been chronically underserved when it comes to workplace technology. With Beekeeper's Frontline Success System, companies can automate paper-based processes, communicate with employees in real-time from anywhere, and improve the engagement, productivity, and safety of frontline teams.
Website: https://www.beekeeper.io
Blog: https://www.beekeeper.io/blog/
LinkedIn: https://www.linkedin.com/company/beekeeper/
View source version on businesswire.com: https://www.businesswire.com/news/home/20221109005241/en/
Contacts:
Beekeeper
press@beekeeper.io
Touchdown PR
beekeeper@touchdownpr.com
