Beeline acquires Utmost
Oct 19, 2022
Jason and I have known the folks at Utmost for some time. In my Gartner days I met Annrai, it was soon after one of his earlier ventures (Cape clear) had been acquired by Workday. I did strategy work with Annrai and Dan even before they had decided to form the company. Jason (via Acadian Ventures) invested in Utmost a couple of years ago.
Watching the idea of Utmost develop into an MVP, and then go on to win deals at enterprise scale has been enlightening and exciting. They grasped the idea that the workforce is more than just the employees in the HR system and ran with it.
I'm biased, but I think they have built the best people data model in the world. (Murali has been key there) The traditional VMS and its business model are ripe for disruption, and they have developed the most compelling product to do just that. Utmost is on a journey to define the extended workforce category.
Today, Beeline announced they were acquiring Utmost. Beeline has recently received a major investment round from Stone Point Capital, and they are putting that funding to good use. I've met Doug Leeby, the CEO, and he has significant ambitions to really scale Beeline.
Utmost will give Beeline a modern, enterprise-grade product that far eclipses what SAP has with its venerable Fieldglass product. Workday has a lot of work to do to make its VNDLY acquisition enterprise ready and integrated. This is a smart move by Beeline.
Beeline has an enviable and broad customer base and this will dramatically speed up their product and stack modernization efforts, it will also spur European expansion. I expect the combination of Beeline and Utmost to accelerate the enterprise transition away from legacy VMS. Utmost's analytics and front door solutions will serve as a compelling customer ramp on and quick win.
Jason and I look forward to seeing how this combination comes together. Congratulations!
Disclosure: Acadian is an investor in Utmost, and I have also advised them over the years.
I'm a venture capitalist at Acadian Ventures, investing in the future of work.