Beamery Raises US$138m as Battle for Talent Intensifies.
- Fundraising News
- 17.06.2021 05:45 pm
Beamery, the leading talent operating system that helps companies attract, engage and retain top talent, has announced US$138m in Series C funding led by the Ontario Teachers’ Pension Plan Board (Ontario Teachers’), through its Teachers’ Innovation Platform (TIP). TIP focuses on late-stage venture and growth equity investments in companies that use technology to disrupt incumbents and create new sectors. Accenture Ventures also participated alongside existing investors EQT Ventures, Index Ventures, M12 and Workday Ventures. The round follows a record year for the company, which finished with 337% annual revenue growth in Q4, and surpassed one million roles filled on its platform during 2020.
Organisations around the world are now hiring at pace in an increasingly competitive talent market. In Q1, Beamery saw a 462% increase in jobs posted across its customer base, compared with the same period in 2020, while the number of candidates pipelined only rose by 46%, indicating that demand is already significantly outstripping supply.
Faced with skills shortages and increasing competition, global enterprises are looking to solutions like Beamery that provide a single platform to manage the entire talent lifecycle. Leveraging an industry first AI-powered Talent Graph, Beamery’s Talent Operating System aggregates and enriches enterprises’ existing talent data with billions of relevant data points to help organizations quickly identify and prioritize potential candidates that are likely to thrive at their organization; measure and reach diversity targets; provide better learning opportunities and career pathways for existing employees; and understand the skills and capabilities they need to build their workforce of the future.
During the past 12 months Beamery has added to its roster of enterprise clients with global brands like Autodesk and Nasdaq amongst others. The company’s leading technology has enabled customers to hire at an unprecedented pace, and supported organisations leading the charge on vaccine development - including AstraZeneca - to transform their international workforce to meet rapidly changing global requirements.
This new investment will fuel extensive product development, accelerate commercial growth in existing and new geographies, double its rapidly growing employee base, and solidify Beamery’s leadership position in the talent space.
Abakar Saidov, Co-Founder and CEO at Beamery added: “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. Enterprise talent teams are driving significant global transformation as they build towards 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.”
Olivia Steedman, Senior Managing Director, Teachers’ Innovation Platform (TIP) said: “Beamery’s best-in-class approach is already transforming how leading global companies recruit and retain talent. As companies accelerate their focus on developing their people and building more agile workforces, Beamery’s cutting-edge solutions and clear vision for transforming talent can provide a competitive edge. We’re excited to partner with them on this journey.”
Christie Smith, Global lead for Talent & Organization / Human Potential at Accenture said: "As a result of our successful working relationship with Beamery, as well as the company’s continued growth, we are excited to evolve our relationship further. Beamery is an innovator in this market and we believe they can help our clients transform talent recruitment, hiring and retention.”