In a recent episode of the Dealmakers’ Podcast, Sultan Murad Saidov, co-founder of Beamery, shared a powerful narrative of how his upbringing, experiences, and passion for fair opportunities led to the creation of a groundbreaking talent management platform.
This blog post dives into the transcript to uncover the inspiring journey that shaped Beamery into today’s global enterprise.
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From Dagestan to the UK: A Journey of Opportunity
Sultan’s family hails from Dagestan, a region in Russia. After the collapse of the Soviet Union, his parents, both scientists, faced professional upheaval. The move to the UK presented an opportunity for a fresh start.
Sultan’s mother transitioned from neuroscientist to frontline work, while his father rebooted his career from physicist to a new path. The privileged education they provided Sultan and his brother laid the foundation for a future they would come to appreciate deeply.
Awakening to the Power of Fair Opportunities
The brothers realized that their access to world-class education and networks was a privilege not to be taken lightly. This realization fueled their determination to create a more equitable landscape for others. The mission to democratize access to opportunities became a driving force behind Beamery’s inception.
Sultan emphasizes how life experiences shape perspectives and values. Both, he and his brother, products of migration, developed a bug for innovation early on. Sultan’s parents’ journey served as inspiration, but it was his innate curiosity and desire to do things differently that set him on the path of entrepreneurship.
From Fax-Based Solutions to a Revolutionary CRM
Sultan’s entrepreneurial spirit first emerged in school when he came up with ventures involving electronics, computers, websites, and video games.
During his gap year, when he created a system for team orders at Deloitte. Using SMSs and faxes, he devised a system similar to modern-day Deliveroo and Uber Eats, where university students could order the food and beverages they wanted.
His website took orders for coffee and other food and sent faxes to restaurants like Starbucks. He also leveraged local drivers to complete deliveries, accomplishing all of this before iPhones and smartphones came along.
Curiously, Sultan was unable to get funding for this venture because he was unable to convince investors that his idea worked. An early lesson he learned in fundraising was that entrepreneurs must never rely on the opinions of people who don’t understand the relevance of their ideas.
This penchant for learning and experimentation laid the foundation for Beamery’s genesis.
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The Foundation for Beamery
Beamery’s journey began as an experiment to help job seekers find opportunities, especially in finance. Recognizing the inherent unfairness in employment, Sultan sought to level the playing field.
He created a skills-centric database, challenging the traditional CV-based approach. This database included information about big firms, banks, and consultancies that were hiring. He also developed a profile-based search engine for students just graduating from school that included their skills and interests instead of experience, which they obviously lacked.
The early experiment not only helped his friends secure jobs but also sparked the realization that a scalable solution was needed. A solution that could eliminate the dependence on recruitment agencies and applications to secure jobs.
Overcoming Challenges in Enterprise Software Sales
The path to selling enterprise software was not without hurdles. Unlike traditional software, Beamery’s offering couldn’t be easily piloted. This challenge led them to identify innovative routes to gain credibility. So, Sultan went ahead to rope his brother to join him on the project.
Their next move was to move to the US to look for angel investors interested in backing their idea, a concept non-existent in Europe at the time. Eventually, through partnerships with recruitment marketing agencies and influential clients like Spotify and VMware, Beamery established its foothold.
Navigating the Funding Landscape
The funding journey was a testament to Beamery’s tenacity. From initially struggling to find investors who believed in their vision to eventually securing backing from venture arms of major European businesses, the co-founders had to learn to navigate the funding landscape.
Beamery attracted seed funding of $2M in 2016 and hasn’t looked back. As the European tech ecosystem matured, securing subsequent rounds became more streamlined. In the latest series D funding round, the company attracted a further $50M, and to date, the total funding over seven rounds is $223M.
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The COVID-19 pandemic and subsequent economic upheaval posed significant challenges. Beamery primarily focused on talent acquisition and faced uncertainty. The ability to pivot and adapt to new client needs and circumstances became crucial.
The pandemic ultimately accelerated the adoption of Beamery’s software in unforeseen ways.
Looking Ahead: Revolutionizing Talent Management
Sultan envisions a future where access to opportunities is not determined by background and organizations truly harness the power of their workforce. Beamery stands at the forefront of a paradigm shift, revolutionizing how businesses approach talent management.
The Beamery story is a testament to the power of perseverance, adaptability, and a commitment to fairness. Sultan Murad Saidov’s journey from a scientist’s son in Russia to co-founder of a global enterprise software company highlights the transformative potential within every individual.
Beamery’s mission to revolutionize talent management is poised to reshape how organizations view and leverage their most valuable asset: their people.
Listen in to the full podcast episode to find out more, including:
- Parents’ sacrifice and moving to the UK provided invaluable access to world-class education and opportunities.
- Recognizing the privilege they received, the co-founders of Beamery are driven by a mission to democratize access to opportunities for all.
- The early electronics, computing, and gaming ventures underscore a lifelong curiosity and penchant for innovation.
- Beamery’s genesis stemmed from a groundbreaking experiment that challenged the traditional CV-based job search paradigm.
- Collaborations with recruitment agencies and influential clients like Spotify and VMware were pivotal in establishing Beamery’s credibility.
- Beamery’s journey through the funding landscape showcases its ability to navigate challenges and secure backing from strategic investors.
- The COVID-19 pandemic prompted Beamery to pivot and adapt, ultimately accelerating the adoption of its software in unforeseen ways.