Following the January launch of its Office 365 Home Premium service for consumers, Microsoft announced on Wednesday a major update to the platform for business users.

Similar to the subscription-based consumer platform — online software ($99) that can be accessed on up to five devices in your household — Office 365 for Business features various applications, including core programs such as Word, Excel, PowerPoint and Outlook, as well as an emphasis on the company’s new business-minded social network Yammer.

Microsoft said it also includes its “most complete Office cloud service to-date,” with offerings tailored to small, medium and large organizations. To start, Office 365 ProPlus will cost $144 for an annual subscription and can be run alongside other versions of Office. It boasts tools to better manage updates for users in the workplace.

Office 365 Enterprise ($264) is for larger organizations, touting advanced IT capabilities. Meanwhile, Office 365 for Midsize Business ($180) is designed for medium sized businesses with 10 to 250 employees. This service includes Office 365 ProPlus and provides midsize businesses with communication and collaboration tools. Also included is Active Directory integration, a web-based administration console, and business hours phone support, the company said.

Office 365 Small Business Premium caters to smaller organizations with 1 to 10 employees. In addition to the core features, it includes business grade email, shared calendars, website tools and HD video conferencing. Pricing is $150 for each user for a year.

The company said the number of small and medium-sized businesses using Office 365, which launched in 2011, has increased by 150% in the past year.