Benivo received $12 million investment, part of which will be used to expand its team in Armenia
YEREVAN, Sept. 20. /ARKA/. Benivo received $12 million investment, part of which will be used to expand its team in Armenia, Benivo founder and CEO Nitzan Yudan said at a press conference.
"We will use these funds to grow even faster. We are investing this money in Armenia to enhance our team here and get more people involved in the technology field," he said.
Yudan said that 100% of the company's programmers and technologies have been based in Armenia for the last 7 years, and this trend will continue. Benivo is registered in Armenia, and doubled its revenues last year and have tripled this year.
"We are proud that Benivo's technology was 100 percent created in Armenia. Technology is a theme with which to draw the world's attention to Armenia, to show its potential and intellectual capabilities," Yudan said.
"Why Armenia?"
Yudan recalled that a member of the management team of a Benivo's most prominent global client companies once asked him, "Why Armenia?"
"The answer for me is very simple: I found a team here with the best capabilities. And not only that. This is an important capability because we work with the largest companies in the world, and our goal is to raise their awareness of the talents and intellectual capabilities that Armenia has. Our activity is aimed not only at the well-being of the Benivo team, but also at raising awareness of Armenia's capabilities in other companies," he confessed.
Yudan said that seven years ago, the company had a need to hire more programmers and technology specialists, facing their shortage in London. The company searched for new personnel in Ukraine, Israel, China, and one day he was suggested to consider Armenia. He ended up interviewing candidates from all four countries (30 candidates from each country).
"I was impressed by the talent and human capabilities, the qualities of the people and the cultural characteristics of Armenia. We hired one programmer - Gohar Aghababyan, and the second employee from Armenia was Shushan Petrosyan," he said.
Company functions
Yudan said the data Benivo provides help both client companies and their employees. "For client companies, our data will help them understand how much expense they incur in relocating one employee to another country, which country is best or which direction to relocate human capital. They can also compare data and understand how long it would take to move an employee or team to another country," he said.
For employees, the data will be useful, for example, when choosing the best foreign bank to open an account; they can find reviews on different banks.
"The hardest part of moving to another country is making decisions about things you're not properly knowledgeable about. And we provide information from other people's experiences, such as where to live, what school to send the kids to, how much to pay for certain things," he clarified.
About Benivo
Benivo is a London-based HR-tech company assisting talent managers and recruiters in the process of relocation and preboarding candidates and new hires in a new city. Benivo provides digital tools to improve employee experience and deliver basic destination support including welcome pack from the company or all the necessary information like insights about the rental market.
Benivo's clients include Google, Mondelez, General Electric, Phillips 66, Unity, Wayfair, CGI, Bloomberg and 50 other companies.
The company has a team of about 100 people in total, 54 of whom work in the office in Armenia (founded in 2015), the rest in the UK, USA and India. In the next 6 months the staff of the Armenian office is to increase up to 70 people. -0-
