Jobandtalent Raises $103M Amid Valuation Shift, Doubles Down on AI
Madrid-based Jobandtalent, an AI-powered workforce marketplace specializing in hourly labor connections, has secured €92 million ($103 million) in a Series F funding round. The investment—led by prominent backers including Atomico, BlackRock, and Kinnevik—values the company at €1.3 billion ($1.5 billion) post-money.
A Down Round in a Challenging Market
While the funding underscores investor confidence, it marks a down round for Jobandtalent. In December 2021, the company raised \(500 million at a \)2.35 billion valuation—nearly $1 billion higher than its current valuation.
A company spokesperson attributed the adjustment to “broader market dynamics” in the tech sector, emphasizing that the capital ensures Jobandtalent remains competitive.
“Despite challenging conditions, we’ve outperformed industry trends by integrating AI across our platform,” the spokesperson told TechCrunch.
The COVID Boom and Post-Pandemic Realities
Jobandtalent thrived during the pandemic, capitalizing on:
- Surges in e-commerce and logistics hiring
- Demand for flexible work arrangements
To date, the platform has placed 300,000+ workers across 3,250+ companies, primarily in logistics and retail. However, the European labor market now faces:
- Skills shortages vs. economic stagnation
- AI disruption threatening traditional temp roles
AI as a Double-Edged Sword
Jobandtalent is navigating this tension by leveraging AI to enhance efficiency while maintaining its human workforce focus. Key initiatives include:
- Clara: An AI recruitment agent that has already conducted 180,000 interviews, leading to 7,000 hires. The company claims Clara matches the output of “thousands of recruiters.”
- Future AI Agents: Planned 2024 launches to automate additional HR functions.
Leadership’s Vision
Co-founder and co-CEO Juan Urdiales framed the funding as a catalyst for transformation:
“Our AI agents will drive productivity, improve worker opportunities, and deliver cost savings for businesses managing temporary labor.”
The Road Ahead
With fresh capital, Jobandtalent aims to:
- Expand internationally
- Deepen AI integration
- Balance automation with human-centric services
As labor markets evolve, the company’s ability to harmonize AI efficiency with workforce needs may define its next chapter.
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