Revolutionising talent acquisition in a world where the best candidates are scarce — EQT Ventures’ investment in Beamery
Today, London-based Beamery, the recruitment CRM and marketing platform, has announced its $28m Series B funding round, led by EQT Ventures.The investment was made alongside M12 (Microsoft’s venture fund) and existing investors Index Ventures, Edenred Capital Partners and Angelpad Fund.
So, why did EQT Ventures invest in Beamery? The fact that companies (large and small) are now battling each other in a war for talent isn’t new — it’s a topic that has been well-written about for years — but they way in which Beamery approaches this battle is. And this is one of the key reasons the EQT Ventures team wanted to partner with Beamery:
- Approaching an old problem from a new, data-driven angle: Getting the best people into the right roles at your company is business critical and Beamery has flipped talent acquisition on its head to ensure this happens. With Beamery, hiring is now a proactive, data-driven and relationship-focused process. The company has recognised the parallels between between marketing and sales, and talent acquisition — the need to attract interest, build employer brands, drive events, and more — and the fact that technology hasn’t evolved to support this shift. In fact, it’s still in the dark ages as spreadsheets are often still the go-to tool to track candidates and CVs from unsuccessful applicants simply get lost in a talent black hole. Beamery’s full suite of CRM and marketing software brings the sophistication that has long been in the hands of sales and marketing teams to recruiters. Companies can now nurture meaningful, deliberate relationships with all past, present and future talent not just people applying for current roles.
- Ambitious, world-class founders — For EQT Ventures, a founding team that has the ambition and stamina to build a global success story is vital. Abakar, Sultan and Mike certainly have both of these traits. They set out to revolutionise the incredibly crowded enterprise software space, targeting a huge part of the business that didn’t have dedicated software (talent acquisition) because creating the single source of truth needed around candidates was tough. The platform needed to integrate with everything, combining both public and private data, while complying with GDPR. The team didn’t shy away from this and have already gained huge traction
- Enterprise customers love Beamery — with limited resources, Beamery has not only built an enterprise-grade product, it has built a product its customers love. Organisations such Facebook, Continental, VMware, Zalando, Grab and Balfour Beatty are already seeing the benefits:
Sam Shad, Resourcing Programme Manager at Balfour Beatty said: “Beamery is exciting! The platform is helping us stay in touch with our key contacts and allowing us to nurture them with the information they’ve requested. Our relationship with Beamery is key to building and developing our talent pools.”
The team at EQT Ventures is looking forward to supporting Beamery on the next phase of its journey and Alastair will be joining the board.