Jobandtalent, a Madrid, Spain-based workforce marketplace that matches workers with temporary roles, secured $500m in equity funding, closing out its Series E round and valuing the company a $2.35 billion valuation.
Backers included Kinnevik and SoftBank Vision Fund 2 with participation from existing investors including Atomico, DN, Infravia, Kibo and Quadrille. Additionally, the company secured $75m in debt financing from Blackrock.
The funding will be used to accelerate the company’s expansion in key markets such as the United States, increase the size of its tech and sales teams over the next two years, and add key executive roles.
Led by Juan Urdiales, co-founder and CEO, Jobandtalent has developed technology to match workers with temporary roles at companies in a range of sectors including logistics, e-commerce, warehousing, and manufacturing. As the marketplace grows, the technology is able to learn and make better matches. The ultimate goal is to enable people to find regular, dependable work and have the security and perks typically associated with full time employment – including pensions, sick and holiday pay, health insurance in some markets, and training courses. Workers can apply for and manage roles, submit paperwork, sign contracts, and get paid entirely within the Jobandtalent app.
More than 1,300 companies – including DHL, FedEx, XPO, Ceva Logistics, eBay, IKEA, Kuehne & Nagel, JD Sports, Ocado, Sainsbury’s, Argos and GLS – use the platform to match the right temporary roles with the right workers. The Jobandtalent platform employs the workers directly and manages all of the back-end administrative processes including payroll, timesheets, and legal compliance.
The company currently operates in 9 markets and is actively hiring for roles across Europe and in the US. The company is growing 130% annually, and has been EBITDA positive since the second half of 2020.
FinSMEs
01/12/2021