What does it take to raise $2 million?
“A clear vision and a lot of work,” says Ben Slater, vice president of growth at the London-based recruiting software startup Beamery. The WeWork Moorgate member recently raised that impressive sum in a seed round from Edenred Capital Partners and Grupa Pracuj.
The company, formerly called Seed.Jobs, helps companies find, recruit, and retain talented staffers.
For startups that are looking to raise capital, Slater says you must have a clear track record proving that you can meet the targets you set yourself.
“Every investor wants to de-risk their investments, and at an early stage, the founders and their ability to deliver is the best indicator,” Slater says.
Launched by co-founders Abakar Saidov, Sultan Saidov and Michael Paterson in 2014, Beamery participated in the AngelPad accelerator program before reaching the point of pitching to investors.
With the $2 million, Beamery plans to hire, develop the product, and build out its business in the U.S. market. In five years, Slater’s hope is that “every business that needs talent needs Beamery.” Until it gets there, the company is focusing on scaling its team.
For Beamery, the WeWork community serves as a reminder that they need supportive people and a work culture that allows them to focus on their main hustle every day.
“We’ve been members for over 18 months now, and the community has been so helpful at creating a great culture and work environment, allowing us to focus on our business,” Slater says. “As we grow in other countries, we hope to continue our growth story with WeWork.”