London-based Beamery has closed a $5 million Series A for its candidate relationship software. The round is led by Index Ventures, with participation from existing investors Edenred Capital Partners, GP Ventures and LocalGlobe.
It’s a fast follow from the startup’s $2 million seed, raised in June last year. Beamery says the new funding will be used to double its headcount and open a new sales and marketing-focused office in the Bay Area, while keeping its core product dev and engineering team in London.
In a blog about the funding, Index’s Jan Hammer argues Beamery’s approach to recruitment gives companies a strategic advantage in hiring by enabling them to identify and develop relationships with potential future recruits before they even have a specific vacancy to offer.
“When you shift to this approach and become highly strategic in developing relationships with top candidates, you outsmart and outpace competitors,” says Hammer, citing Beamery’s claim that its users have seen the cost of hiring fall by 39 percent and time-to-hire drop by 31 percent since using its software.
The startup, which was founded back in 2014, has around 50 customers using its software at this point, including the likes of Facebook, Dropbox, VMware and Criteo. Active users number around 1,000, according to CEO Abakar Saidov.
“In short think of it like Salesforce + Marketo for recruitment. We are an API-first CRM platform that lets companies track the entire candidate lifecycle from Lead > Application > Hire. This changes how companies recruit…