Beamy (Future 40, 2019) raises 9M$ to govern the explosion of SaaS in large companies

That’s another raise for a Future 40 company! Beamy (Insead Program Alumni), selected as one of the 40 most promising companies of STATION F’s campus in 2019, announced today a 9M$ Series A funding with Aglaé Ventures and ISAI, as well as business angels Nicolas Hernandez (360 Learning) and Erwan Keraudy (CybelAngel).

Beamy offers companies a unique solution that can detect and control the explosion of SaaS applications used in a decentralized way. The platform thus helps CIOs and other IT leaders control this parallel IT/digitalization and strengthen the technological autonomy of the employees while preserving corporate governance.

In companies with more than 1,000 employees, there are on average several hundred different SaaS solutions in use, representing several million dollars in annual costs.“In general, when we meet a CIO of a large company, they estimate that their organization uses 30 to 40 SaaS tools. However, when we begin working together, our technology detects several hundred active SaaS solutions, often revealing more than 75% of shadow IT,” explains Beamy CEO and co-founder Andréa Jacquemin.

Beamy has developed powerful scoring algorithms capable of detecting all of the SaaS applications actually implemented in the company. Beamy then is able to follow the evolution of each application over time, provide employees with a catalog of all applications implemented in the company, define an autonomy matrix according to the potential risks of future applications, and navigate an app store of more than 50,000 applications on the market. The solution has already convinced several notable customers such as LVMH, Decathlon, Orange, Engie and BNP Paribas.

This fundraising will help the company to accelerate its international development and strengthen customer relations by supporting them in their long-term governance efforts. “We are convinced that SaaS issues are major issues for large companies, whether French or international. With this fundraising from major investors including Aglaé Ventures and ISAI, both of whom are recognized for offering cutting edge expertise in the tech sector, we are setting out to conquer the international market”, says Andréa Jacquemin. To do so, Beamy plans to hire 40 new talents during the 12 following months and invest on product development with the strengthening of detection technology and decentralization workflows to further streamline collaboration between IT and business lines in the implementation and management of new SaaS solutions.

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Watch Beamy’s pitch from STATION F’s Future 40, 2019: