Jobandtalent, a Madrid-based platform for finding temporary work, has become Spain’s third unicorn after announcing a $500m series E round led by Kinnevik, with a “significant” followon from SoftBank VisionFund 2. The company also raised $75m in debt financing from BlackRock.
The raise sees Jobandtalent’s valuation rise to $2.35 billion, becoming the fourth tech unicorn headquartered in Spain, alongside taxi-hailing app Cabify, q-commerce platform Glovo, and electric vehicle charging company Wallbox. It’s also the second biggest round ever raised by a Spanish company, after Glovo raised a €450m series F earlier this year.
Founded in 2009, Jobandtalent says it's now the largest job platform operating in Europe, and says it has helped more than 100,000 people find work in the first nine months of 2021 alone. The company specialises in matching workers with temporary opportunities in sectors like warehousing, manufacturing, logistics, and ecommerce.
Unlike many other short term or gig economy employment platforms, Jobandtalent also offers its workers the securities that come with full-time jobs, including pension contributions, sick pay, holiday pay and health insurance.
“Jobandtalent’s workforce-as-a-service platform is disrupting the modern labour market and placing people back at the centre of employment,” said Natalie Tydeman, senior investment director at Kinnevik.
The company says that it uses AI to help match the right workers with the right roles, and that it has helped many find work during the difficult times of the pandemic.
“Even with the current pressure in the labour market, we are able to find and match workers with roles at a much higher success rate than others,” said Juan Urdiales, cofounder and chief executive of Jobandtalent. “With flexible working increasingly becoming the norm, the opportunity to help workers find reliable, consistent jobs is growing by the day.”
Jobandtalent is active in six European countries — Spain, Germany, France, Sweden, the UK and Portugal — as well as Mexico, Colombia and the US.
The company began its US expansion in 2021, and now says it plans to use the fresh injection of capital to significantly increase its sales and tech teams to accelerate growth in the region.
Some 1,300 companies are using Jobandtalent’s platform to find temporary staff, including DHL, FedEx, eBay, IKEA, JD Sports, Ocado and Sainsbury’s.