Jobandtalent closes $500m Series E

Gig economy tech is booming right now; this is no surprise as companies are grappling with staff shortages amid the ‘Great Resignation’.

Just one day after European shift workforce management tech company Quinyx raised $50 million from Battery Ventures, Spanish headquartered Jobandtalent closed a $500 million Series E.

Jobandtalent helps to match up gig workers with casual shifts with the help of artificial intelligence (AI). It primarily operates in the logistics, e-commerce and warehousing sectors.

However, it is also tries to give its workers stability – something which the traditional gig economy seriously lacks. It does this by creating a pipeline of consistent work for them, as well as giving them employee benefits like sick and holiday pay, and pension.

The app is a one-stop-shop for gig companies because it allows them to find workers, get contracts signed and pay workers all in one place.

The Series E round was led by Kinnevik and comes within nine months of Jobandtalent’s $120 million Series D from SoftBank Vision Fund 2.

This funding comes on the back of a stellar year for Jobandtalent, according to TechCrunch. The company claims its platform matched more than 100,000 workers to shifts.

Now 1,300 companies have sourced workers via its platform (this is up from 850 in March) – examples include DHL, JD Sports, IKEA, and eBay.

Cracking the US market

Jobandtalent currently supports the gig economy in Europe, as well as Mexico, Colombia and the US.

It launched in the US back in March following its Series D, but it now plans to use the Series E funding to further deepen and broaden its market presence in Europe and the US.

The startup toldTechCrunch: “Jobandtalent is by far the largest job platform in Europe. We are just starting to grow in the US, and this round of funding will help us accelerate those plans and become market leaders there as well.”

Juan Urdiales, CEO and co-founder of Jobandtalent said: “We are excited to accelerate the expansion of our team and grow our presence in both new and existing markets — helping more workers find the jobs they want, and helping businesses fill the roles they need.”

Kinnevik’s senior investment director Natalie Tydeman continue: “Jobandtalent’s workforce-as-a-service platform is disrupting the modern labor market and placing people back at the center of employment.

“By offering a personalized service driven by data and proprietary technology, Jobandtalent is simplifying the experience of finding work for thousands of people and transforming it for the better.

“We’re proud to be working with Juan and the team to accelerate the growth of the business.”