March 17, 2021 – Investors are pouring money into recruiting solutions businesses. Spain-based Jobandtalent, a digital temp staffing agency start-up which operates a dual-sided platform that matches temps with employers needing casual labor, recently secured €100 million (~$120 million) in Series D funding from SoftBank’s Vision Fund 2. Previous investors in the start-up include Atomico, Seek, DN Capital, InfraVia, Quadrille, Kibo and FJ Labs. The new raise fast-follows a $108 million top up to Jobandtalent’s Series C round, which happened this past January. In total, the company has raised a total of €310M (just under $370 million) since being founded back in 2009, according to Tech Crunch.
“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,” said Juan Urdiales, co-founder and co-CEO of Jobandtalent. “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.” Jobandtalent matches workers and companies in several sectors, including logistics, e-commerce, warehousing, and manufacturing. So far, 80,000 workers have used the platform. Jobandtalent employs the workers directly and manages the back-end administrative process including payroll, timesheets and legal compliance. Customers include XPO, Ceva Logistics, eBay, Ocado, Sainsbury’s Bayer and Santander.
“Jobandtalent is addressing a crucial challenge facing the modern workforce – how to balance flexibility with high quality, reliable job opportunities,” said Yanni Pipilis, managing partner at SoftBank Investment Advisers. “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.”
Here’s a look at some other recent funding deals secured by these companies from the Hunt Scanlon Media archives:
SeekOut, the AI-powered talent 360 platform, has received $65 million in series B funding led by Tiger Global Management, with participation from existing investors Madrona Venture Group and Mayfield. This capital raise brings SeekOut’s total funding to $73 million. This funding round values SeekOut at close to half a billion dollars. SeekOut’s growth and expansion has been driven by the critical role it plays in empowering talent acquisition teams to recruit hard-to-find and diverse talent. SeekOut has consistently received high scores and strong reviews in analyst and customer assessments.
GoodJob, a platform that aims to use psychology and data science to match workers with jobs, recently raised $3 million to increase marketing and sales efforts in major markets across the U.S. “GoodJob’s solution is ideal for today’s market,” said Stephen D. Johnston, CEO of GoodJob. “Prior to an interview and without introducing bias, employers can quickly assess a candidate’s fit on the front end of the hiring process,” said Mr. Johnston. “This approach allows companies to spend time only on candidates who have a high probability of success, which significantly impacts hiring efficiency, especially as companies move to no-touch hiring practices.”
Turing.com, which describes itself as an automated platform that enables companies to use and manage remote software developers, has assembled $32 million Series B funding. The capitalization round was led by $3.3 billion fund WestBridge Capital. The round includes a number of high-profile investors, including Foundation Capital, which led Turing’s seed round. Altair Capital, Mindset Ventures, Frontier Ventures and Gaingels also participated in the Series B round. Driven by the massive global shift to remote work due to the COVID-19 pandemic, Turing taps into a global pool of developers to help companies hire in markets such as the San Francisco Bay Area and New York, where it has been difficult and expensive to hire and retain software engineers.
The Mom Project, a talent marketplace, closed a $25 million series B funding round, bringing total funding at the Chicago-based company to $36 million. The Mom Project aims to connect women, including mothers, with employment opportunities. Its platform has amassed more than 275,000 users and more than 2,000 companies, including brands like Apple, Nike, Gap and BP. “Together we’ve proven that hiring, retaining and supporting moms and caregivers isn’t just a nice thing to do — it’s great for business,” said Allison Robinson, founder and CEO. “We’re in a unique moment in time where companies are embracing flexible work and prioritizing inclusion, and are excited to rapidly accelerate our efforts to unlock the potential of moms in the workplace. Our latest round of funding will help expand our Enterprise product suite, build out our mom community engagement strategy and engage with more small business customers.”
Mya Systems, a conversational AI platform for hiring teams, announced that it has secured $18.75 million in Series C funding. The funding was led by Notion Capital with participation from earlier investors, Emergence Capital and Foundation Capital as well as Cisco Investments and Workday Ventures. Over the past year, Mya Systems gained tremendous momentum, seeing three times customer subscription growth in 2019 alone. Mya now supports over 460 brands, six of the eight largest recruiting firm, and 29 of the Fortune 100. Customers include industry leaders such as Hays, Adecco, L’Oreal, Deloitte and Anheuser Busch.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media