Mon, 16 May 2022

JobandTalent raised $500 million with its Series E funding round in December 2021, which it will use to expand in the US. The digital temp staffing agency is based in Madrid but has been seeking additional markets now that temporary workers are becoming the norm. CEO Juan Urdiales has indicated that this trend increases his company's ability to help temporary workers consistently find reliable jobs. JobandTalent also benefited from the experiences and financial support of angel investors like entrepreneur Alejandro Betancourt Lopez.

Overview

The current talent shortage is causing more companies to look for simple, effective solutions to bridging the gap between the supply and demand of workers. This trend is driving the growth in digital temporary staffing, which is at an all-time high. The $500 million raised in December was one of the highest seeding rounds ever, with additional rounds in January and March 2021 raising $108 million and $120 million respectively. Podcast hosts Joel Cheesman and Chad Sowash both agreed that JobandTalent was the most attractive investment in the staffing industry for 2021. Sowash also stated at that time that this company had the right idea about their platform and just needed to build the infrastructure for it.

JobandTalent is currently active in nine markets within Europe and the US. Its annual growth rate is 130 percent as of 2021, and its earnings before interest, taxes, depreciation, and amortization (EBITDA) has remained positive since late 2020. In addition to Betancourt Lopez, JobandTalent's major investors include Atomico, DN, Infravia, Kibo and Quadrille.

User Satisfaction

Over 1,300 companies currently use the JobandTalent platform for their temporary staffing requirements, with major clients including eBay, FedEx and IKEA. These employers have benefited the platform by increasing its fulfillment, retention and satisfaction rates. Workers using JobandTalent had an average Net Promoter Score (NPS) of 56 in a 2021 survey, compared to the staffing industry's average of 18.

The JobandTalent platform found roles for over 100,000 workers during the first nine months of 2021, according to Urdiales. He added that his company provides workers with the security and benefits of full-time employment. Urdiales also said that JobandTalent is also able to find jobs for workers at a much higher rate than its competitors.

Market Expansion

JobandTalent's European markets include the following countries:

  • Colombia
  • France
  • Germany
  • Mexico
  • Portugal
  • Sweden
  • UK

Each country has its own platform, and the company is looking to expand based on the success of its most recent funding round. Urdiales said that his company is excited to accelerate its expansion and increase its presence in new markets like the US. He added that JobandTalent is in a strong position to launch its platform in the US and offer good value to both employers and workers in that country.

The US doesn't currently have any large-scale competitors in the verticals that JobandTalent operates in, according to Urdiales. He added that he believes the business model that has been so successful in Europe will continue to perform well in the complex regulatory environment of the US. JobandTalent is also planning to enter two other European markets, including Italy and the Netherlands.

Betancourt's Investment and Marketing Strategy

Betancourt Lopez has built a reputation for using technological innovation to expand during periods of economic uncertainty. This approach was particularly evident when he began backing JobandTalent in 2012, when it was still a startup. This company provides the kind of experience and return on investment (ROI) that Betancourt is looking for. The adrenaline rush of creating jobs while furthering his own professional development has kept Betancourt passionate about JobandTalent a decade later.

At the time Betancourt Lopez became involved with JobandTalent, its platform was essentially just a job finder application. Like others of its kind, JobandTalent allowed users to perform Google searches to find the best matches based on criteria they provided. However, Betancourt Lopez realized that the company had a lot of subscribers that it interacted with, but those interactions weren't generating much revenue.

Under Betancourt's direction, JobandTalent completely changed its platform. It began charging subscribers that it would then find jobs for, and its clients became the companies that provided those jobs. JobandTalent also started providing other staffing services such as interviewing applicants, payroll services and onboarding the employees. According to Betancourt Lopez, 'That was unique, and we started growing like crazy.'

Summary

JobandTalent is an online temp staffing agency that has been highly successful in Europe. Its latest round of funding also places the firm in a strong position for expanding its operations in the US. Alejandro Betancourt Lopez is responsible for much of this rapid growth due to his early investment and technological innovation of JobandTalent's platform.

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