Image credits: Jobandtalent
Jobandtalent, a Madrid-based workforce marketplace that matches workers with temporary roles, announced that it has raised $500M (approx €441M) in equity investment in a Series E round from Kinnevik and SoftBank Vision Fund 2.
Existing investors Atomico, DN, Infravia, Kibo, and Quadrille also participated in the round. This investment boosted Jobandtalent valuation to $2.35B (approx €2B).
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Alongside the equity raise, the Spanish company has also secured $75M (approx €66M) in debt financing from Blackrock. The funding announcement comes eight months after raising $120M (approx €105M) in a Series D round.
Fund utilisation
The funding will be used to accelerate the company’s expansion in key markets such as the United States and to significantly increase the size of its tech and sales teams over the next two years.
“With temporary working increasingly becoming the norm, the opportunity to help workers find reliable, consistent jobs is growing by the day,” says Juan Urdiales, co-founder and CEO of Jobandtalent.
“The Jobandtalent platform has found the right roles at the right companies for more than 100,000 workers in the first 9 months of 2021 alone, providing them with the benefits and security of full-time employment. Even with the current pressure in the labour market, we are able to find and match workers with roles at a much higher success rate than others,” he adds.
Jobandtalent: What you need to know
Founded by Juan Urdiales and Felipe Navio in 2009, Jobandtalent intends to make the employment market more fluid and accessible with its proprietary job matching technology.
The platform matches workers with temporary roles at companies in various sectors, including logistics, e-commerce, warehousing, and manufacturing.
The company is on a mission to make it easy for people to find regular, dependable work and have the security associated with full-time employment.
Workers can apply for and manage roles, submit paperwork, sign contracts, and get paid entirely within the Jobandtalent app. The platform employs the workers directly and manages all the back-end processes, including payroll, timesheets, and legal compliance.
Jobandtalent says more than 1,300 companies, including DHL, FedEx, XPO, Ceva Logistics, eBay, IKEA, Kuehne & Nagel, JD Sports, Ocado, Sainsbury’s, Argos, and GLS use its platform.
The company is growing 130 per cent annually and has been EBITDA positive since the second half of 2020.
Jobandtalent currently operates in nine markets and is actively hiring for roles across Europe and the US.
Investor
Based out of Stockholm, Kinnevik is an entrepreneurial investment group focused on building digital consumer businesses.
Natalie Tydeman, senior investment director at Kinnevik, says, “Jobandtalent’s workforce-as-a-service platform is disrupting the modern labour market and placing people back at the centre of employment. By offering a personalised service driven by data and proprietary technology, Jobandtalent is simplifying the experience of finding work for thousands of people and transforming it for the better.”
How partnering up with Salesforce helped him succeed!
