Jobandtalent, a digital temporary staffing agency and marketplace for casual labor has raised $500 million in a Series E round. The round was led by Kinnevik and the funds will be used to fuel expansion into new markets. The round also saw participation from other investors such as Atomico, DN, Quandrille, Kibo and Infravia, bringing the startup’s post-money valuation to $2.35 billion. The startup also secured $75 million in debt financing from Blackrock.
Founded in 2009, Jobandtalent is a startup that connects companies to people willing to fill up temporary positions and people looking for casual work in sectors like warehousing, e-commerce and logistics. Earlier in March, the startup raised $120 million in its Series D funding round and $100 million in debt financing which it announced would be used to fuel its expansion plans into the US.
The funds raised from the recently-concluded Series E round will be used to scale its US operations by increasing the size of its tech and sales team over the next two years and adding important roles. The startup also plans to strengthen its presence in all of Europe with the fund.
Jobandtalent services are currently available in nine markets worldwide including its home country Spain. It is present in the UK, Germany, Sweden, Mexico, France, the US and Colombia, where it has been matching people looking for positions in temporary roles and casual labour with employers. Jobandtalent, however, focuses more on sectors like manufacturing, e-commerce and logistics, where temporary workers and casual workers are needed the most.
Jobandtalent claims to be the biggest job platform in Europe. “Jobandtalent is by far the largest job platform in Europe. We are just starting to grow in the US, and this round of funding will help us accelerate those plans and become market leaders there as well”, the startup said. The startup says that in the first nine months of 2021, it matched 100,000 workers to casual workers. Over 1,300 companies including DHL, FedEx, XPO, Ceva Logistics, eBay, IKEA, Kuehne & Nagel, JD Sports, Ocado, Sainsbury’s, Argos and GLS are using the platform.
Jobandtalent prides itself on being able to match jobs and people irrespective of the difficulties the labour market has faced of recent. “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. We are excited to accelerate the expansion of our team and grow our presence in both new and existing markets — helping more workers find the jobs they want, and helping businesses fill the roles they need”, Juan Urdiales, co-founder and CEO said.
“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. We’re proud to be working with Juan and the team to accelerate the growth of the business”, Natalie Tydeman, Senior investment director at lead investor Kinnevik, had to say.