Beamery, a talent lifecycle management platform with headquarters in London, reported that it has raised $50 million in a Series D fundraising round.
The Series D round was supervised by Teachers’ Ventures Growth (TVG). This raised the company’s worth to over $1 billion. With this, the company has gained a spot on the list of London’s top unicorns right now.
The TalentTech startup will utilize the money to assist companies with all aspects of the workforce lifecycle, including hiring, talent mobility and development, and upskilling.
According to Abakar Saidov, CEO of Beamery, “For almost a decade, we have been hyper-focused on inventing technology that enables our clients to unlock the full potential of the global workforce.”
The ethical AI-powered talent platform offered by Beamery, he continues, “gives businesses the intelligence they need to prepare for business needs and gaps, identify the skills and capabilities they already possess, and successfully recruit, retain, up-skill, and redeploy their personnel.”
Abakar further said, “With this additional financing, we will keep creating ground-breaking methods for businesses to better understand their workforce today and be able to prepare for the future, enabling them to build genuinely flexible organizations capable of withstanding any market volatility.”
Beamery is a talent lifecycle management platform that provides an end-to-end solution that enables businesses to manage the entire talent relationship. It was founded in 2013 by the Saidov brothers, Abakar and Sultan, as well as Mike Paterson.
The London-based startup offers businesses the AI-powered tool they need to make informed decisions about their employees. The platform intends to help businesses at every point of the talent lifecycle, from hiring to development and upskilling of existing employees.
According to the corporation, its largest clients are becoming more devoted to its platform, with net retention for Fortune 500 clients at 135% or higher. Organizations can navigate change quickly, maintain key skill sets, promote DE&I, and develop the workforce of the future with the help of Beamery.
Global companies like BBC and Uber have been added to the company’s list of business clients.
It has assisted businesses in making headway with important talent efforts (including a 2.5x increase in employee duration, over 20% more diverse applicants, and a 50% decrease in hiring and retention costs), stats shared according to Beamery.
Avid Larizadeh Duggan of TVG said, “Businesses are confronting an unprecedented amount of difficult decisions around improving productivity and developing the proper capabilities in their employees.”
“The startup gives leaders the intelligence they’re missing to understand the capabilities they already have, how to use them most efficiently across major initiatives, and how to fill essential gaps through internal and external talent,” Avid Larizadeh continued.
Image Credit: Beamery
