Talent technology company Beamery has raised £41 million in Series D funding and is now a ‘unicorn’.
The London company’s valuation is now more than $1 billion – representing a 25% valuation uplift over its previous round in a challenging funding environment – following the round led by existing investor Teachers’ Ventures Growth (TVG), part of the C$242 billion Ontario Teachers’ Pension Plan.
Beamery’s talent platform uses artificial intelligence to help companies such as General Motors and Johnson & Johnson recruit and develop talent more effectively.
It says its largest customers are increasing their commitment to the solution, with net retention for Fortune 500 clients at 135%+.
It says innovation is a key reason for this increased adoption, such as the launch of its Universal Skills Platform to help companies understand the current and potential skills of its workforce, and extensive ethical-AI enhancements to help talent teams reduce bias and identify the right internal or external candidate for the right role.
The company has added global brands like BBC and Uber to its roster of enterprise clients, and claims to have helped companies make critical progress on key talent initiatives – seeing increases to employee tenure of 2.5x, over 20% more diversity candidates that companies are able to hire and retain, and a 50% reduction in hiring and retention cost.
“For nearly a decade we have been hyper-focused on building technology that enables our clients to unlock the full potential of the global workforce,” said Abakar Saidov, CEO.
“Beamery’s ethical AI-powered talent platform gives companies the intelligence they need to plan for business needs and gaps, understand the skills and capabilities they have, and attract, retain, upskill and redeploy their workforce successfully.
“With this new funding, we will continue to develop groundbreaking ways for companies to better understand their workforce today and be able to plan for tomorrow, so they can create truly agile organisations ready to withstand any market turbulence.”