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JACKSONVILLE, Fla., May well 3, 2022 /PRNewswire/ — Beeline, the unbiased chief in program answers for sourcing and controlling the international extended workforce, nowadays declared it has received a the greater part expenditure from funds managed by Stone Level Funds, a major non-public equity agency. The strategic expense will permit Beeline to further more speed up its top technology system and convey further solutions to marketplace, serving to companies unlock the ability of the extended workforce. Current trader New Mountain Cash will stay a minority trader in the corporation, with illustration on the company’s board of directors.
“Organizations have reached an inflection place in how they use and take care of exterior talent. Now accounting for up to fifty percent of the full international workforce, contingent workers, challenge-based mostly solutions, and consultants are driving business enterprise outcomes at each single degree of the group,” explained Doug Leeby, CEO of Beeline. “We are enthusiastic to husband or wife with Stone Level Capital, and continue our partnership with New Mountain Money, using this investment decision to even more accelerate our tempo of innovation and growth to meet the needs of firms in present-day economic natural environment.”
For more than 22 years, Beeline has persistently reinvented the workforce technology space with quite a few 1st-to-current market innovations. Just past yr, Beeline redefined the ability and possibility of the seller administration procedure (VMS) sector with the launch of the Beeline Prolonged Workforce System. In addition, the enterprise broke new ground in the substantial-quantity, shift-based mostly labor globe with the acquisition of JoinedUp, as perfectly as bolstered its Artificial Intelligence (AI) capabilities by means of key partnerships.
“The non-personnel workforce has developed to come to be a strategic and significant ingredient of the human funds ecosystem, as companies grapple with unprecedented expertise shortages, electronic adoption and degrees of financial modify,” said Chuck Davis, CEO, Stone Place Cash. “We consider Beeline has the correct technology, system and mentality to guide the way and are energized to lover with Doug and the management workforce as they help companies reimagine and condition the long term of the workforce.”
“Beeline has prolonged been the chief in the prolonged workforce engineering sector, and because our investment decision in 2018, Beeline has introduced to sector substantial and impactful innovation that delivers significant price for buyers and raises the bar for the field general, which has resulted in file growth for the business,” mentioned Lars Johansson, Handling Director at New Mountain Money. “We’re enthusiastic to companion with Stone Place Funds and seem ahead to continuing to assist Beeline on this following phase of growth,” extra Sean Donovan, Director at New Mountain Capital.
Beeline and New Mountain Cash had been encouraged by Lazard as direct fiscal advisor as nicely as William Blair on the transaction. Ropes & Gray served as lawful counsel to Beeline and Simpson Thacher & Bartlett served as legal counsel to Stone Place Capital.
About Beeline
Enabling companies to improve profitability and adaptability by employing an agile blend of staff and non-employee talent, Beeline is the world’s greatest unbiased supplier of cloud options for sourcing and handling the intricate earth of contingent labor. Our program will help procurement, sourcing, and human assets specialists enhance prices, lower threats, and insert value to their expert services procurement and contingent workforce systems.
We have the deepest, most seasoned workforce of contingent workforce option experts. From our spots all-around the planet, we supply progressive technologies, finish-to-conclusion world and localized buyer engagement expert services, and price-extra abilities which aid several of the world’s most significant enterprises meet their most vital expertise wants. To master far more, check out beeline.com.
About Stone Stage Capital
Stone Issue is an expenditure firm centered in Greenwich, CT, with extra than $40 billion of assets under administration. Stone Issue targets investments in organizations in the world wide money expert services sector and connected sectors. The organization invests in a selection of choice asset classes, which includes personal fairness via its flagship Trident Cash. Stone Stage also manages each liquid and private credit score funds and managed accounts. In addition, Stone Position Cash Marketplaces supports our firm, portfolio firms and other customers by furnishing devoted financing solutions. For extra facts, make sure you go to www.stonepoint.com.
About New Mountain Capital
New Mountain Capital is a New York-dependent expense agency that emphasizes business creating and growth, fairly than credit card debt, as it pursues very long-phrase capital appreciation. The agency at this time manages personal equity, public fairness and credit score funds, with in excess of $35 billion in assets less than administration. New Mountain seeks out what it believes to be the maximum-high quality development leaders in very carefully selected marketplace sectors and then operates intensively with management to build the price of these companies. To discover far more, visit www.newmountaincapital.com.
Contacts
Jessica Ashcraft
Vice President of Promoting, Beeline
marketing and [email protected]
Ann Warren
770.328.8384
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