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Jobandtalent Raises $ 500 Million Series E to Continue Developing “Workforce as a Service” Market – TechCrunch

Spain’s Jobandtalent, a digital temp agency that uses AI to match workers with casual jobs in industries like warehousing, e-commerce and logistics, has closed a round of 500 million. Series E dollars led by Kinnevik and with which he bills as “significant” are tracked by SoftBank VisionFund 2.

Existing investors, including Atomico, DN, Infravia, Kibo and Quadrille, also participated in the funding round – which the startup says values ​​its company at $ 2.35 billion (post-money).

Along with the fundraising, the startup founded in 2009 secured another portion of the debt financing ($ 75 million) from Blackrock.

Jobandtalent says the latest funds will be used to accelerate its expansion in key markets, including the United States – its most recent target. Earlier this year (March), he announced a $ 120 million Series D (as well as $ 100 million debt financing) that he said he would use to enter the United States.

With Series E cash-strapped, he plans to “dramatically” increase the size of his technical and sales team over the next two years, and also says he will add “key” leadership roles – as it seeks to expand in the United States and to deepen its business in Europe.

Currently, it offers a temporary labor service in nine markets around the world: Spain, UK, Germany, France, Sweden, Portugal, Mexico, Colombia and the United States. -United. on sectors such as manufacturing and logistics).

Jobandtalent is by far the biggest job platform in Europe. We are just starting to expand in the United States, and this round of funding will help us accelerate these plans and become market leaders there as well, ”the startup told us.

His concert-seeking rationale also comes with a promise of “stability” for temp workers in his books – via an AI-assisted “cohesive work” pipeline; and benefits for agency workers which she says are more like a job (and may include pensions, sick pay and leave, health insurance and training courses).

Temporary workers apply and manage roles, submit documents, sign contracts and get paid through the Jobandtalent app. the job search process (and, in fact, getting paid for it) for those who depend on seasonal and / or temporary gigs for a living.

Its UK website includes fairly prominent links to a whistleblower policy and statement on modern slavery – as well as a link to (multilingual) instructions on reporting hidden labor exploitation.

The startup boasts an average NPS score for workers on its platform of 56 compared to an industry average which it says is just 18.

In the first nine months of 2021, Jobandtalent says its platform has been used to match more than 100,000 workers to casual roles. (That’s since the start of the year, when he said more than 80,000 workers had used his market to find temporary positions at this point.)

It also says more than 1,300 companies are now registered to recruit workers through its platform, including DHL, FedEx, XPO, Ceva Logistics, eBay, IKEA, Kuehne & Nagel, JD Sports, Ocado, Sainsbury’s, Argos and GLS – against 850 previously. + companies in March.

Its growth rate of its activity is 130% per year, Jobandtalent adding that it has been positive in terms of EBITDA since the second half of 2020. He also told us that its annual turnover rate was now higher than 1 billion euros.

“Even with the current pressure in the job market, we are able to find and match workers with roles with a much higher success rate than others,” suggested Juan Urdiales, co-founder and CEO, in a press release. “We are excited to accelerate the expansion of our team and increase our presence in new and existing markets, helping more workers find the jobs they want and helping companies fulfill the roles they want.” need. “

Also commenting on the funding in a statement, Natalie Tydeman, Senior Director of Investments at Kinnevik, added: “Jobandtalent’s Workforce-as-a-Service platform is disrupting the modern job market and putting people back at the center. employment. By providing personalized service based on data and proprietary technology, Jobandtalent simplifies the job search experience for thousands of people and transforms it for the better. We are proud to work with Juan and the team to accelerate the growth of the business.

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