Beamery, which develops candidate relationship and recruitment management software, received a strategic investment from Workday Ventures and will join the Workday Software Partner Program. In addition, Workday’s talent acquisition team will use Beamery’s products in its own efforts to identify candidates.
Charles Mah, Workday’s vice president of global talent acquisition, said his company was attracted to Beamery because of its expertise in targeting early, passive candidates. Also, Workday believes Beamery’s technology “complements and extends” its own capabilities. The partnership, he said, “helps support our talent networking strategy focused on building stronger candidate relationships by understanding their interests and motivations, and then matching them with the right opportunities.”Beamery got an investment from Workday Ventures and will join the Workday Software Partner Program. And, Workday will use Beamery in its recruiting efforts. #HR #HRTech #HRTribe Click To Tweet
Beamery considers itself a “talent engagement platform” that helps enterprises, first, attract candidates to fill current openings and, second, construct a pipeline of possible matches for roles that might open up in the future. “It allows companies to take a lot of the principles, concepts and tools that marketing organizations use to build the pipeline of would-be prospects and reapply this to recruiting,” Vice President of Marketing Ben Slater said in an interview.
It does this by using large-scale data mining, machine learning and a 360-degree view of each candidate relationship during the hiring process. Technology aside, Beamery’s approach centers on the idea of managing “the entire candidate journey” in one place, and doing so in a way that develops engagement between candidates and companies, Slater said.
Beamery’s platform combines talent CRM, talent marketing, automated compliance and an integration layer that enables enterprises to approach recruiting in the same way they approach customer acquisition.
Workday and Beamery “share a commitment” to delivering solutions that take “a more strategic approach to talent acquisition,” said Workday Senior Vice President Leighanne Levensaler.
During the past year, Beamery says it experienced 300 percent growth in annual recurring revenue and added a number of enterprise customers. These include Facebook, VMWare and Zalando.
Workday’s ‘Smart Investment’
Enterprise Times calls the partnership “a smart investment by Workday Ventures.” Beamery’s products, it said, complement Workday’s and will allow the company to quickly strengthen its own suite.
For Beamery, the agreement provides access to Workday Ventures’ knowledge and a new swatch of potential customers.
In mid-2018, Beamery closed a $28 million Series B round led by EQT Ventures. At the time, TechCrunch said a “significant” portion of those dollars would go toward R&D and product development. To support its growth, Beamery also planned to increase hiring at its London headquarters and offices in Austin and San Francisco.
Meanwhile, investors are feeling positive about Workday as the company prepares to release its earnings report for the quarter ended in January 2019. According to Zacks Equity Research, the business is expected to report revenues of about $777 million, up 33 percent from the previous year’s period, and a 14 percent increase in earnings.
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