UK-based human resources (HR) software provider Beamery has received $28m in series B funding from investors including M12, the corporate venturing vehicle for software producer Microsoft.
The round was led by EQT Ventures, the venture capital arm of private equity firm EQT Partners, and also featured Edenred Capital Partners, a subsidiary of corporate services provider Edenred, as well as Index Ventures and Angelpad Fund.
Founded in 2014, Beamery has built a recruitment managing platform that incorporates features from customer recruitment management, such as data science or predictive marketing, in order to market companies more effectively to potential hires.
The series B funds will be put towards product development, as Beamery prepares to double the size of its research and development department. A representative from EQT Ventures will join its board of directors in connection with the deal.
Abakar Saidov, Beamery’s founder and CEO, said: “Over the last decade, technology has drastically changed how we communicate, buy and engage with brands.
“Innovation in talent acquisition has traditionally lagged behind other areas of business and our mission is to create a paradigm shift in how companies interact and form relationships with talent.
“In doing so, we are building a new category of software in the HR Technology ecosystem that allows companies to create an agile and proactive recruitment model.”
Index Ventures had already led the company’s $5m series A round in April 2017, investing alongside Edenred Capital Partners, LocalGlobe and GP Ventures. That round came after $2m from Edenred Capital and human resources technology provider Grupa Pracuj in 2016.