Madrid-based Jobandtalent Raises $108M in Series D Funding
Jobandtalent, a Madrid-based online staffing platform, recently announced that it has raised $108 million in a Series D funding round. The round was led by Softbank Vision Fund 2, with participation from existing investors such as Atomico, DN Capital, FJ Labs, and Quadrille Capital [1]. With this latest funding, the company’s total funding to date has reached $290 million [3].
Founded in 2009, Jobandtalent uses artificial intelligence (AI) and machine learning (ML) to match job seekers with employers. The platform currently serves over 80,000 employees in Europe and Latin America [2]. According to Juan Urdiales, co-founder and CEO of Jobandtalent, the funding will be used to expand the company’s operations in these regions [2].
AI and ML in Jobandtalent’s Staffing Platform
Jobandtalent’s use of AI and ML sets it apart from traditional staffing agencies. The platform’s algorithms analyze job seekers’ skills and experience and match them with suitable job openings. Employers can also use the platform to manage their workforce, including scheduling and payroll [1].
The use of AI and ML has become increasingly common in the staffing industry. According to a report by Staffing Industry Analysts, 70% of staffing firms are currently using or planning to use AI and ML in their operations [4]. These technologies can help staffing firms improve the accuracy and efficiency of their candidate matching and reduce bias in the hiring process.
Jobandtalent’s Expansion Plans
Jobandtalent’s latest funding round will enable the company to expand its operations in Europe and Latin America. The company currently operates in Spain, the UK, Germany, France, Mexico, and Colombia [1].
The staffing industry is highly competitive, with many established players such as Adecco, Randstad, and ManpowerGroup. However, Jobandtalent’s use of AI and ML gives it a unique selling point that could help it stand out in the market.
The Future of Staffing
The COVID-19 pandemic has had a significant impact on the staffing industry, with many companies turning to temporary and contract workers to meet changing demand. According to a report by McKinsey, the pandemic has accelerated the adoption of digital technologies in the staffing industry, including AI and ML [5].
As the world of work continues to evolve, staffing firms will need to adapt to stay competitive. Jobandtalent’s use of AI and ML puts it at the forefront of this transformation, and its latest funding round will enable it to continue expanding its operations and improving its technology.
Conclusion
Jobandtalent’s recent $108 million funding round is a significant milestone for the Madrid-based staffing platform. With this funding, the company will be able to expand its operations in Europe and Latin America and continue developing its AI and ML technology. As the staffing industry continues to evolve, Jobandtalent’s use of these technologies gives it a unique selling point that could help it stand out in a highly competitive market.
