In January 2021, Madrid-based staffing agency Jobandtalent raised $108 million – totaling $290M in funding to date. It serves 80k workers across the EU, as per Lomas on TechCrunch.
Key Takes:
- Jobandtalent, a Madrid-based digital staffing agency, raised €88 million ($108 million) in Series C funding ($290m until Jan 2021)
- Serves over 80,000 workers across the EU, Huawei, Bayer, eBay, Saint, XPO, Santander, etc., have used their services
- Has raised a total of $1.3 billion from 18 funding rounds and 34 investors
- Aims to provide temp workers with better benefits, such as health insurance, training courses, and advanced payroll
- The goal is to provide constant employment for workers through different work assignments at different companies
- Juan Urdiales, the co-founder, stated the company will keep expanding and sees high potential to grow even faster
Jobandtalent is a Madrid-based digital staffing agency that connects temporary employees with potential employers, eliminating the need for a broker. In January 2021, Jobandtalent raised over €88 million ($108 million) in Series C funding. [as per LomasTechCrunch]
Since this was a Series C funding, this isn’t the first time this 2009-founded company raise capital. Back in 2019, the company raised over €166 million, totaling $290 million over their decade-long (actually more) journey.
According to Jobandtalent, the company has served more than 80,000 workers across big European countries and beyond, including Spain, Sweden, Germany, France, Mexico, Colombia, and the U.K. It is not just the workforce that’s benefitting from their services. Companies such as Huawei, Bayer, eBay, Saint, XPO, Santander, etc., have also been using Jobandtalent to hire talent.
As the workforce is now more inclined toward temporary work due to obvious reasons (inflation), apps such as Jobandtalent are registering an increasing amount of new users. Jobandtalent predicted that there would be a more surprising number of people looking for new temporary work, and their statistics favored their prediction. Their 2021 statistics show that the new accounts were doubled from last year, generating revenue of €500 million for the company. [(MadridBased 290M 80k LomasTechCrunch)]
In March 2021, the company attracted more institutional investors that saw more potential in this Madrid-based staffing company. In a Series D round led by Softbank Vision Fund 2, Jobandtalent successfully raised another €100 million.
Fast forward to December 2021, Jobandtalent raised another €500 million to keep up with the demand and scale their workforce-as-a-service business. This is the most capital they’ve ever raised in a single round.
To date, the company has raised a total of $1.3 billion in 18 funding rounds. This funding has been made by 34 investors, including 13 lead investors behind the Madrid-based firm facilitating 80k workers. [MadridBased 290M 80k LomasTechCrunch]
Juan Urdiales on Jobandtalent and Its Growth
“We will keep expanding through Europe and will consider some additional opportunities…The reason why we are raising more is because we are seeing a high potential now to grow even faster than expected,” stated Juan Urdiales co-founder of Jobandtalent.
“This market is really big and we are just at the beginning of our journey…“We think that if we continue growing at the pace that we are growing now, and we add some private investors to help us with our growth plans, we may stay private for longer,” he added.
About Jobandtalent
Jobandtalent platform for temp job matching. They started off in the enterprise recruitment sector, but now they focus on helping small businesses and the gig work market. They want to make sure temp workers get a better deal, with added perks like health insurance, training courses, and quick payroll.
The platform uses a mobile app and its own Worker Quality Score algorithm to match workers with the right jobs and make everything easier for employers. Jobandtalent says that they aim to provide a fulfilling professional experience for temps, but it’s not always easy to track how many people end up getting permanent jobs through their platform.
Their goal is to keep workers constantly employed through different assignments at different companies, all through one convenient app for finding, applying, and getting paid for temp jobs. [madridbased 290m 80k lomastechcrunch]
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