Beamery raised $138 million in Series C funding after turning in what it called “a record” performance, including triple-digit revenue growth during the fourth quarter and passing 1 million roles filled by its platform during 2020.
The round was led by the Ontario Teachers’ Pension Plan Board. Accenture Ventures also participated, along with existing investors EQT Ventures, Index Ventures, M12 and Workday Ventures.
Certainly, today’s business climate offers recruiting platforms an opportunity to shine. Companies around the world are hiring at a rapid pace, or at least trying to if they can find candidates with the right backgrounds and skills. In the first quarter, the number of job postings on Beamery’s platform rose by 462%, the company said, while the number of candidates in the pipeline rose by just 46%.
This new investment will fund product development, accelerate growth in existing and new markets, and double Beamery’s headcount, the company said.
Changing With the Times
“Changes to the way we work, shifting expectations of candidates and the sheer pace of recruiting demands have led organizations to rethink how they approach recruitment and retention,” said Beamery CEO Abakar Saidov. “Enterprise talent teams are driving significant global transformation as they build toward this new future of work, and this investment will enable us to scale globally with growing demand and build the new category in enterprise technology.”
During the past 12 months Beamery has added enterprise clients such as Autodesk and Nasdaq.
In February, Beamery reported a record fiscal performance for the previous 12 months, as well as several significant business wins. Among them were a 65% increase in adoption and new integrations with HR tech firms including iCIMS and SAP SuccessFactors. At the end of February 2021, the company’s staff numbered about 200 people from seven different countries.
Beamery’s last funding round occurred during 2018, when the company raised $28 million in a Series B round, led by EQT Ventures.
Mark Feffer is executive editor of RecruitingDaily and the HCM Technology Report. He’s written for TechTarget, HR Magazine, SHRM, Dice Insights, TLNT.com and TalentCulture, as well as Dow Jones, Bloomberg and Staffing Industry Analysts. He likes schnauzers, sailing and Kentucky-distilled beverages.
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