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Jobandtalent grabs €100 million in Series D funding round from SoftBank

Jobandtalent grabs €100 million in Series D funding round from SoftBank
Jobandtalent grabs €100 million in Series D funding round from SoftBank

Spain-based digital temp staffing company, Jobandtalent, has reportedly raised a sum of €100 million (USD 120 million) during a Series D funding initiative from SoftBank’s Vision Fund 2. The new funding comes after a top-up of USD 108 million to Jobandtalent’s Series C round that was reported back in January 2021.

For those unaware, Jobandtalent functions as a dual-sided platform that conforms temps with employers requiring casual labor in sectors comprising manufacturing, e-commerce, logistics, and warehousing.

The earlier investors in the startup comprise Kibo, Atomico, FJ Labs, Seek, DN Capital, Quadrille, and InfraVia. Since its inception in 2009, the company has secured an overall sum of €310M.

As per Jobandtalent, the mix of equity and debt will help it step on the gas and advance the growth of its marketplace much faster than it took in less capital at this point, allowing it to plow more resources into its technology and product development.

According to Juan Urdiales, the co-CEO and Co-founder of Jobandtalent, with the aid of the new Series D funds in the bank, the company is preparing to enter the U.S. market in the following year. This will be the company’s expansion out from the eight markets that it is presently functioning in, namely Germany, the UK, Sweden, France, Mexico, Spain, and Portugal.

Urdiales has also stated that currently, Jobandtalent has not yet witnessed any large-scale competitor in the United States and in several states in the verticals where it is operational. This is one of the primary reasons why the company believes that it has a great opportunity in the country.

It is to be noted that on the technology side, the platform utilizes learning algorithms for matching temps with jobs, in turn accelerating the hiring process. In addition, the company provides a CRM for employees which bake in analytics for tracking workforce performance in real-time.

This, according to Jobandtalent, can help companies in reducing attrition, monitoring workplace satisfaction, and tracking metrics comprising late arrivals and absences.

Source credit –

https://techcrunch.com/2021/03/09/jobandtalent-takes-120m-from-softbank-to-enter-the-us-market/?guccounter=1

 

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Nandita Bhardwaj

Nandita holds a management degree with specialization in marketing, and boasts of a short-term experience in the field of recruitment. Following her passion for writing however, she decided to pursue a career in the field of content development. Presently, Nandita pens down news pieces for newsorigins.com, spanning the verticals of business, finance, and technology.