There was a time when the idea of recruiting tech companies having valuations over a billion seemed rare – impossible, even. With the impact of labor shortages and loads of VC money entering the recruiting industry as a result, unicorns are becoming more like regular horses vs mythical creatures.
Enter Beamery. The UK-based talent platform just closed a $50-million D-round to achieve that triple-comma designation and joins the ranks of the ta-tech elite (or, at least deep-pocketed).
Led by CEO Abakar Saidov, Beamery provides an their AI-tech powered Talent Lifecycle Management platform that empowers companies to understand the skills and capabilities they have, build more agile workforce plans, and attract, retain, upskill, and redeploy their workforce. The company’s product provides employers with intelligence to make more effective decisions about their workforce, supporting customers through recruiting, to talent mobility and development, to upskilling.
The funding round was led by Teachers’ Ventures Growth, part of the C$242 billion Ontario Teachers’ Pension Plan. TVG also made a Series C investment in Beamery in June 2021. TVG focuses on late-stage venture and growth equity investments in technology companies.
“With this new funding, we will continue to develop groundbreaking ways for companies to better understand their workforce today and be able to plan for tomorrow,” said CEO Abakar Saidov. That will help them “create truly agile organizations ready to withstand any market turbulence,” he said.
Beamery has seen a notable increase in Fortune 500 clients during 2022. Indeed, the company claims its Fortune 500 revenue has risen by more than 250% during the year while net retention of Fortune 500 rose to more than 135%.
The company has also launched a Universal Skills Platform to help employers understand the current and potential skills of their workforce, and enhancements meant to help talent teams reduce bias and identify the best internal or external candidate for any particular role.
Earlier in December, Beamery rolled out additions to its product suite that were meant to help companies personalize the candidate experience during the hiring process. The features included a new candidate portal as well as a preference center, enhanced campaign editor and AI-powered browser extension.
With the update, the company aimed to help employers create a “deep” personalization of their talent lifecycle.
By Martin Burns
Martin Burns is a Managing Editor & Analyst for RecruitingDaily.com. Referred to as someone who’s “kind of done it all in recruiting”, Martin Burns is a talent acquisition practitioner as well as commentator. For the past three years, he has been reporting on and analyzing news that impacts the TA industry, first as founding Editor at Recruiting News Network, and now as Managing Editor of RecruitingDaily. Prior to this, his career has included leading, as well as consulting with, talent acquisition organizations for some of the world's most significant brands. He speaks at global conferences on talent acquisition, maintains an active presence in the global recruitment community, and generally has fun mucking around in the conversation the industry has in who it is, and where it’s going. His industry-leading Facebook group “Talent Product Plays” is considered a must-join by practitioners and vendors alike.
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