madridbased jobandtalent 108m Madrid-based Jobandtalent , an electronic digital temp staffing agency which usually operates a dual-sided system that connects temp employees with employers needing normal casual labor in industries like transport and strategies, has added €88 mil (~$108M) to its Collection C — bringing the complete raised following an earlier (2019) closing of the round in order to €166M.
The particular 2009-founded startup has elevated more than $290M to date more than its decade+ run yet describes itself as simply at the beginning of a journey to create a dent in the massive plus growing market for short-term work, expecting demand to help keep stepping up as more sectors plus processes go digital within the coming years.
Jobandtalent says more than eighty, 000 workers have used the platform to secure temp performances in the last year across the 7 markets where it functions in Europe and LatAm (namely: Spain, UK, Australia, France, Sweden, Mexico plus Colombia); while 750+ companies are signed up to “ recurrently manage a large element of their workforce”, as it describes, including XPO, Ocado, St . Gobain, Santander, Bayer, auction web sites, Huawei, Ceva Logistics plus Carrefour.
It’ t focused on competing with conventional staffing agencies such as Adecco and Randstad, though additional similar startups are showing up to cater to an more precarious temporary employment marketplace. (And Uber, for example , released a shift-finder app test called Works, back in 2019 , also targeting demand designed for on-demand labor — yet doing so in partnership with staffing firms in its case).
Jobandtalent reports the number of employees looking for temp jobs upon its platform doubling each year, while it’ s cultivated revenue to €500M plus says it’ s strike positive EBITDA.
The beefed up Collection C funding will be place towards expanding into a lot more markets and doubling upon growing its existing impact, it said today.
“ We will maintain expanding through Europe and can consider some additional possibilities (the US and some LatAm countries), ” co-founder Juan Urdiales told all of us, noting that its primary markets remain Spain as well as the UK, while its primary sectors are logistics, final mile, warehousing and transportation.
The prospect investor in the expansion tranche of its C round is definitely new investor InfraVia, the French private equity firm, that is putting in €30M — trading via a Growth Tech Account it launched last year that’ s focused on European b2b high-growth tech companies.
Existing Jobandtalent traders, including Atomico, Seek, DN Capital and Kibo Endeavors, also participated in the Collection C top-up.
Urdiales said the reason it’ s taken in another portion of funding now is due to increased opportunity for growth since the coronavirus pandemic continues to speed up demand for temping. “ The reason why we are raising a lot more is because we are seeing a higher potential now to grow actually faster than expected, ” he told us. “ The pandemic has assisted us with both workers plus employers in terms of adoption of our own platform. ”
“ Covid has more rapid the transformation of many sectors. We have seen more adopting of new technologies in the last 9 months than in the last 5 years. The staffing marketplace is experiencing a huge alteration that will be accelerated in the forthcoming years, moving from physical traditional structures to information driven platforms that will enhance the experience of both workers plus employers, ” Urdiales went on in a statement.
“ This market is actually big and we are just at first of our journey (even though we have been a lot of years on the market now), ” he added through email, discussing whether a good IPO is on the business’ roadmap in the next few years. “ We think that when we continue growing on the pace that we are increasing now, and we add some personal investors to help us with the growth plans, we may remain private for longer. ”
Jobandtalent has been via a number of pivots since starting more than a decade ago with the concept of using technology to improve the messy and consummately human business of recruitment. It started out testing several approaches before settling on the linguistics algorithm in order to parse job ads that alerts to loop within passive job seekers.
Then in 2016 it pivoted away from organization recruitment to focus on mobilizing employing for SMEs — zeroing in on the growing chance for temp job-matching offered by the particular rise of gig function fuelled by smartphone applications. From there, it’ s already been honing tools to focus on the needs of employers which are managing large temporary workforces.
Jobandtalent will get $42M Series B right after pivoting to mobilize employing for SMEs
The flip side from the rapid growth of ‘ flexible’ platform-based labor — and Jobandtalent says it’ s eyeing a swimming pool of some 500M temperature workers globally — will be something that gig platforms don’ t usually like to discuss: Worker precariousness.
But that’ s some thing this startup says this wants to help with too. A vital part of the proposition Jobandtalent provides to workers is improved benefits vs what a temperature might otherwise expect to obtain.
Wanda B. Hewlett
Wanda B. Hewlett (Contributor) is a freelance writer from the UK. When she’s not busy writing she loves to spend her time traveling, exploring and running.