Jobandtalent, a Madrid-based marketplace leveraging AI to connect hourly workers with employers, has successfully secured €92 million (approximately $103 million) in its Series F funding round. This latest investment, featuring major stakeholders like Atomico, BlackRock, and Kinnevik, has brought the company’s valuation down to €1.3 billion ($1.5 billion) as a result of broader market conditions, marking a notable decline from its previous valuation of $2.35 billion in December 2021.
The company stated that this funding is necessary to maintain growth and navigate current market challenges, despite outperforming many industry trends last year. Jobandtalent has operated across ten countries, providing a platform that has facilitated the placement of over 300,000 workers into roles with 3,250 companies, primarily in sectors such as logistics and retail.
While Jobandtalent has benefited from increased demand during the pandemic, the European labor market is currently facing economic volatility, characterised by skills shortages and decreased corporate profits. The ongoing uncertainty, particularly concerning the impact of AI, raises concerns about future job security, as businesses explore AI solutions for efficiency.
In response to these challenges, Jobandtalent plans to optimise its operations further with the introduction of AI-powered agents. Their first agent named Clara has already successfully conducted 180,000 interviews, leading to approximately 7,000 hires and showcasing fill rates comparable to thousands of traditional recruiters. The firm intends to introduce additional AI agents later this year aimed at automating various functions previously reliant on human effort.
Co-founder and co-CEO Juan Urdiales emphasised that this capital injection endorses their vision for evolving into a comprehensive employment platform, improving workforce management and efficiency for businesses while striving to provide enhanced opportunities for workers.
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