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Wednesday, May 15, 2024

Jobandtalent raises $108 Million to improve workforce platform

Madrid -based staffing agency, Jobandtalent, which operates on a dual-sided platform that connects temp workers with employers in search of casual labor in logistics and transport, has raised $88 million in series C funding, with earlier funding, bringing to a total of $166 million. This startup has raised more than $290 million, which marks just a start in the market. It expects more demand due to growing customers demand in the coming years. madridbased jobandtalent 108m 290m.

The giant further said that almost 80000 workers had used the platform for temp gigs in the European market to manage a large part of their workforce, including Saint Gobain, Santander, Ocado, XPO, Huawei, Carrefour and Ceva Logistics.

Jobandtalent also reports increasing applicants for temp jobs yearly, with its rising revenue to $500 million, hitting positive EBITDA. In this regard, co-founder Juan Urdiales said that the company would continue to expand through Europe, bringing in additional opportunities and markets in the U.K. and Spain. It will also have a main logistics sector, transport and warehouse service to deliver better service.

In the expansion of the C round of tranche, InfraVia is its new investor, which is a French equity firm, giving $30 million that will invest via Growth Tech Fund to expand the service of B2B growth tech companies. 

The existing investors of Jorbandtalent are Seek, DN Capital, Kibo Ventures and Atomico to participate in its series C. Since the company’s inception, it has made many contributions and eyeing a pool of some 500 million temp workers for gig platforms. Most of the gig platforms offer benefits and rights to the workers. It also deploys the latest mobile technology to handle the workforce efficiently. This is how Jobandtalent is trying to introduce more benefits for the temps, with a chance to scale up their condition.

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