HR tech unicorn Beamery secures debt financing from CIBC Innovation Banking

The booming HR tech market continues to thrive.

Hot on the heels of Zellis Group buying Benify, Mimecast acquiring Aware and Code42 as well as CloudPlay securing $120 million in funding, the latest investment news comes from HR tech unicorn Beamery.

Beamery announced today that it has secured "significant" corporate debt financing from CIBC Innovation Banking, a global technology investment company.

Headquartered in the UK, Beamery has been a unicorn since December 2022. It already supports Fortune 500 companies like Johnson & Johnson, Uber, Workday, Verizon, All State and Standard Chartered, through their AI-powered talent management platform.

CIBC Innovation Banking’s financing package aims to support Beamery’s growth plans as it moves towards profitability.

A bright future for Beamery?

Talking about Beamery’s debt financing from CIBC Innovation Bank, Beamery’s CFO Philipp Becker exclusively tells UNLEASH: “We have made great progress over the last 18 months towards our path to profitability, which allows us to access corporate debt financing at significantly lower cost of capital than we could have achieved in the past.”

For CIBC Innovation Banking Managing Director Sean Duffy added: “As a growth lender to high-growth software companies, we are always looking for businesses that stand out from the crowd.

“Beamery is a brilliant example of this and is a real pioneer in the UK tech scene.

“It has scaled rapidly and as a result, has become a leader in the talent acquisition tech industry.

HR tech is an area where software deployment has a real impact on the day-to-day activity of a business and we’re excited to see how Beamery uses the funding to continue enabling firms to look after their people and win the war for talent.”HR tech is an area where software deployment has a real impact on the day-to-day activity of a business and we’re excited to see how Beamery uses the funding to continue enabling firms to look after their people and win the war for talent.”

Becker adds that Beamery plans to use the investment specifically for research and development, as well as “to continue building out our AI-native talent platform and establish ourselves as a global market leader that helps enterprise clients on their journey to becoming skills-centric organizations”.

The idea is to “enable our customers to achieve this much deeper understanding of their talent and make those insights executable across their entire HR tech stack”, concludes Becker.

Stay tuned to see what the future holds for Beamery.