Jobandtalent closes a round of 440 million and becomes the new Spanish unicorn

New success story of the Spanish entrepreneurial fabric: the country has a new unicorn. Jobandtalent has just closed a financing round of 440 million euros, figure that brings the total valuation of the company to 2,000 million. That is to say, that it far exceeds the border that determines that a technology-based company joins the club identified with the figure of the mythological animal: being valued at a minimum of one billion dollars.

Thus, this platform to search for work online, extends from today a list in which there are already names such as Glovo, Cabify, Wallbox and, if the criteria of the Generalitat de Catalunya are taken into account, eDreams and LetGo.

This decisive injection of capital has been led by the Swedish giant Kinnevik, that has invested almost a quarter of the total volume that the company has received based in Madrid, about 115 million dollars (just over 100 million euros). Along with it, Softbank has also invested and the rest has come from the hand of shareholders already present in the capital of the company and some new fund, such as Endeavor O soul world, also a Cabify investor. To all this is added a debt agreement of 75 million with BlackRock.

The plan of the Swedish fund, according to the firm in a statement, is to accelerate the expansion of Jobandtalent in key markets such as the United States, increase the size of its sales and technology departments over the next two years and incorporate new executive figures. According to the data they have shared this Wednesday, the start-up It already operates in nine markets, is used by more than 1,000 companies and has found work for some 100,000 people so far this year.

Digitization of temporary agencies

For the main investor, the value of this Spanish company lies in the fact that it has been able to bring the philosophy of temporary work agencies to the digital environment and apply the system in a wide variety of sectors, such as logistics, electronic commerce or the factories.

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“Digitization and globalization are forcing companies to adapt to new ways of working, and Increasing pressure is being put on them to take more responsibility for temporary workers“, justifies the Swedish company. These workers, they add, are the ones who are in charge and make possible” the new and innovative services that are provided in many of the key sectors for Kinnevik.

For Juan Urdiales, one of the founders of the platform and its CEO, what Jobandtalent gains from Kinnevik’s entry into its capital is the experience of a fund with an “impressive track record of building successful, sustainable and global businesses.” According to this entrepreneur, in addition, both firms share a long-term vision and the “ambition to generate a real impact on the lives of workers around the world.”

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