London tech scaleup raises £7m to accelerate international expansion

A London tech scaleup has raised more than £6.7m (€8m) in series A funding to accelerate its international expansion.

Beamy, whose UK London, offers companies a solution that can detect and control the explosion of SaaS (Software as a Service) applications within their business. The platform helps CIOs and other IT leaders control this parallel IT/digitalisation and to strengthen the technological autonomy of the employees while preserving corporate governance.

This funding round was led by the Aglaé Ventures, ISAI funds and Evolem as well as business angels Nicolas Hernandez (360 Learning) and Erwan Keraudy (CybelAngel). The investment will be used to hire 40 more team members in the next twelve months and strengthen product development.

Andréa Jacquemin CEO and co-founder of Beamy, said: “In general, when we meet a CIO of a large company, they estimate that their organisation 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 per cent of shadow IT.

“The top down vision of IT is over. We are witnessing a true decentralisation of technological ownership and empowerment of business units, which are selecting and implementing their own solution.

“We are convinced that SaaS issues are major issues for large companies, whether French or international. With this fundraising from major investors including Agaé Ventures and Isai, both of whom are recognised for offering cutting edge expertise in the tech sector, we are setting out to conquer the international market.”

Jean-David Chambordeon of Isaï, commented: “As investors, we are familiar with the SaaS model and the benefits that users and business departments can derive from it. For large companies, mastering this deployment, which is often in the ‘shadows’, represents a real challenge.

“The vision of Beamy’s founders to identify, rationalise, unify, and allow the security of this B2B SaaS stack within organisations quickly convinced us. The excellent customer feedback we have been able to collect shows that Beamy is in the process of becoming the reference platform in this field.”

Léa Verdillon of Aglaé Ventures, added: “Beamy provides an exhaustive view of SaaS tools and provides a governance platform with a real return on investment.

“The great feedback we’ve heard from customers convinced us that Andréa and Edouard formed the right team to develop Beamy. The international ambition that drives them is in perfect harmony with the fast-growing market, particularly in the United States, which is one of our areas of investment.”