Spain-based Jobandtalent, a workforce marketplace that matches workers with temporary roles, secured a €100 million investment in Series D funding from SoftBank’s Vision Fund 2. In addition, the company has secured €83 million in debt financing from BlackRock. This comes after Jobandtalent closed a successful €88 million round in December. The funding will accelerate Jobandtalent’s expansion into new markets, including the US, and the consolidation of its leadership position in existing territories.
Jobandtalent has developed technology to provide tailored matches between workers and 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 even better matches – meaning more workers in good jobs, and happy companies.
The goal is to make it easy for 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 roles, submit paperwork, and sign contracts entirely within the Jobandtalent app. In the past year alone, more than 80,000 workers have used Jobandtalent to find temporary roles.
More than 850 companies – including XPO, Ceva Logistics, eBay, Ocado, Sainsbury’s, Bayer, and Santander – use the Jobandtalent platform to easily and efficiently match temporary roles with the right workers. Jobandtalent employs the workers directly and manages all of the back-end administrative processes including payroll, timesheets, and legal compliance. Through the platform, companies can monitor worker satisfaction, which helps reduce attrition, and follow metrics like absences or late arrivals.
Since its launch in 2009, Jobandtalent has expanded to eight markets: Spain, UK, Germany, France, Sweden, Mexico, Colombia, and Portugal. The revenue run rate of the business has grown from €5 million in 2016 to €500 million in 2020, resulting in a positive EBITDA. The company continues to grow more than 100% year on year. SoftBank Vision Fund 2 joins previous investors including: Atomico, Seek, DN Capital, InfraVia, Quadrille, Kibo, and FJ Labs. Jobandtalent has raised €310 million to date.