Beamery, a talent technology startup, has secured £41 million in Series D investment and is officially a ‘unicorn.’
Following the investment headed by current investor Teachers’ Ventures Growth (TVG), part of the C$242 billion Ontario Teachers’ Pension Plan, the London company’s valuation is now more than $1 billion, indicating a 25% valuation increase over its previous round in a hard financing climate.
Beamery’s talent platform use artificial intelligence to assist firms such as General Motors and Johnson & Johnson in more successfully recruiting and developing talent.
According to the company, its largest customers are expanding their commitment to the solution, with net retention for Fortune 500 clients reaching 135% or higher.
It cites innovation as a key driver of this increased adoption, citing the launch of its Universal Skills Platform to assist companies in understanding the current and potential skills of their workforce, as well as extensive ethical-AI enhancements to assist talent teams in reducing bias and identifying the right internal or external candidate for the right role.
The company has added global brands like BBC and Uber to its enterprise client list, and claims to have assisted companies in making critical progress on key talent initiatives, including 2.5x increases in employee tenure, over 20% more diversity candidates that companies can hire and retain, and a 50% reduction in hiring and retention costs.
Beamery CEO, Abakar Saidov, says they have been hyper-focused on helping their clients to fully unlock the potential of the global workforce for nearly a decade now.
With this new funding, they hope to continue to develop innovative ways for companies to better understand their workforce. This, Saidov says, will help companies plan for tomorrow “so they can create truly agile organisations ready to withstand any market turbulence.”
Amit Khanna, 7startup Founder
Amit has 18 years of experience in the industry and an MBA. He supports entrepreneurs with every aspect of their business including concept and product development, investor presentations, and fundraising. Amit & 7startup assist startups in the pre due-diligence process and help connect them to our vast network of investors. Reach out to us today and see if we’re a fit!
