The digital temporary staffing agency aims to foray into the US following the new funding round
Jobandtalent founders Felipe (left) and Juan (right). (Credit: PRNewsfoto/Jobandtalent).
Jobandtalent, a Spanish digital temporary staffing agency, has raised €100m investment from SoftBank Vision Fund 2 through a Series D round.
Apart from that, the workforce marketplace has been granted debt financing of €83m from BlackRock.
In December 2020, Jobandtalent raised €88m in a Series C round.
SoftBank Vision Fund 2 joins previous investors such as Atomico, Seek, InfraVia, Quadrille, DN Capital, FJ Labs, and Kibo.
So far, Jobandtalent has raised €310m for its workforce marketplace.
The digital temporary staffing agency said that it will use the latest funding to fast track its growth into new markets. The company plans to foray into the US apart from strengthening its position in existing territories.
Launched in 2009, Jobandtalent has a presence across eight markets, which include Spain, Germany, the UK, Sweden, France, Colombia, Mexico, and Portugal.
Jobandtalent’s technology is designed to give customised matches between workers and companies across logistics, warehousing, e-commerce, and manufacturing among other sectors.
The company’s workforce marketplace enables people to apply for roles, submit paperwork, and also sign contracts, all within its app.
Jobandtalent claims to have helped over 80,000 workers to find temporary roles in 2020. The company’s revenue for last year was €500m.
Jobandtalent co-founder and co-CEO Juan Urdiales said: “There are 500 million temporary workers around the world, and we saw an opportunity to use technology as a way of helping these workers find reliable, consistent jobs.
“We want to help match these workers with the right roles at the right companies, and make sure they have the benefits and security of employment.
“The past year has shown us how critical these jobs are to keeping our economies running, and we think there is a huge opportunity to treat workers well and help businesses fill the roles they need.”
Jobandtalent said that it hires the workers directly and handles payroll, timesheets, legal compliance, and other back-end administrative processes.
Using its platform, companies can track worker satisfaction and also follow metrics such as late arrivals or absences.
SoftBank Investment Advisers managing partner Yanni Pipilis said: “Jobandtalent is addressing a crucial challenge facing the modern workforce – how to balance flexibility with high quality, reliable job opportunities.
“The company has developed a data-driven platform that has a track record of providing high fulfilment and low attrition staffing for businesses with temporary roles to fill, while securing income stability and benefits for workers.”