Beamery is a talent management platform headquartered in London that manages every stage of the talent acquisition lifecycle in just a single platform. It helps in attracting, identifying, and engaging with candidates on a single platform. To put talent transformation at 1st place of every business is the mission of the company.
This is a talent operating system that was founded by Akbar Saidov, Sultan Murad Saidov, and Michael Paterson it is a talent acquisition, retention, and engagement platform that manages the sourcing, hiring, and conservation of people and also analyzes the large picture of talent for an organization. It offers an all-in-one, end-to-end service which the company calls a Talent Graph.
Details of Series C Round
This talent management platform announced that it has raised $138 million in a new funding round of services C. The company refused to announce its valuation but a close source disclosed that it is around $800 million.
This round proved to be the record round for the company which gained 337% annual revenue growth in quarter 4. The round is coming on the tip of a very powerful year for the company.
This round was led by the Teacher Innovation Platform, which is part of the Ontario Teachers Pension Plan board. Existing investors include EQT Ventures, Workday Ventures, M12, Index Ventures, and Accenture Ventures.
The company explained that the arrival of Covid-19 has impacted the recruitment process in a massive way. The people are not just remotely applying for the jobs but many of them get hired for a remote job, without a single face-to-face interview with a colleague, manager, or recruiter. And this has paved the way for startups like Beamery, which is not just remote-friendly SaaS but also allows to handle the entire recruitment process from a single place.
The co-founder and CEO of Beamery, Akbar Saidov said that the things which led the organization to rethink its approach to retention and recruitment are the changes to the way they work, shifting the beliefs of candidates, and the sheer pace of enrollment demands.
The Aim Behind this Series C
With this new investment, the company aims to fuel its extensive product development, double down its swiftly growing employee base, accelerate its commercial development in old and new geographies, and solidify its leadership of the company in the talent space.
Akbar said that this investment will allow the company to scale internationally with growing demand and build a new category in the technology of enterprise.
Teacher Innovation Platform
The Ontario Teachers Pension Plan board’s Teacher Innovation Platform is the growth equity arm and venture capital of C$ 242 billion of Ontario’s Teacher.
The senior managing director of Teacher Innovation Platform, Olivia Steedman said that the recruitment and retaining process of leading global companies is transformed by the best-in-class approach of Beamery.
He added that he and his team are excited to partner with Beamery on this journey of innovation as the cutting-edge and clear vision solutions of the company for transforming talent provide a cut-throat edge.
Accenture Ventures
Accenture provides the leading capabilities in digital, security, and cloud and is a global professional service company. It works by combining different experiences with specialized skills in over 40 industries and serves its clients in 120+ countries.
Accenture’s Global Lead for Human Potential, Christie Smith said that they are excited to evolve their working relationship with Beamery and added that this company is an innovator in its field and he believes that they can help their clients transform the process of talent recruitment, hiring, and retention.
Conclusion
The talent operating system, Beamery raised $138 million in a new series C round with an expected valuation of $800 million. Teacher Innovation Platform, which is part of the Ontario Teachers Pension Plan board led this round and existing investors also participated which includes EQT Ventures, Workday Ventures, M12, Index Ventures, and Accenture Ventures. The company aims to fuel its extensive product development, double down its swiftly growing employee base, accelerate its commercial development in old and new geographies, and solidify its leadership of the company in the talent space.
FAQs
Ans. In London, United Kingdom.
Ans. The company was founded by Akbar Saidov, Sultan Murad Saidov, and Michael Paterson.
Ans. The company raised $138 million.
Ans. Teacher Innovation Platform led this round.
