The new Spanish ‘unicorn’ already has a name: it is Jobandtalent, a startup that has received an investment of 440 million euros that has boosted its valuation to 2,000 million euros. This is not his first millionaire bet and, in fact, in the past, from Genbeta we interviewed one of its executives to learn more about the situation and the plans of one of the most promising startups in Spain. A ‘unicorn’ is a company that reaches a valuation of 1,000 million dollars without having a presence on the stock market.
Its strength and its greatest attraction for a job search market where there are already a large number of recognized portals (and in which the government wants to create its own with public and private offers) is that offers temporary jobs, but seeks quality and continuous. Users carry out a project for a company and when that contract runs out, the job portal starts sending them new job offers.
To avoid certain problems of job insecurity that sometimes characterize some sectors, such as temporary jobs, this platform carries out the labor recruitment to guarantee greater security and peace of mind with the collection of payroll and with legal issues for employees. Within the same app, all this information corresponding to charges, conditions and earnings, among other matters, is collected.
Other milestones of this Spanish startup
Last March Jobandtalent received a € 100 million investment round from the SoftBank Vision Fund and secured another € 83 million in debt financing from BlackRock. This in order to reach new markets such as the United States.
Precisely from Softbank Investment Advisers, they highlighted that “Jobandtalent is tackling a crucial challenge that it faces The Modern Workforce: How to Balance Flexibility with high quality and reliable job opportunities ”.
It was founded in 2009 by Juan Urdiales and Felipe Navío and has undergone a transformation over time characterized by layoffs as well as heavy investments and a notable security breach. Jobandtalent has undergone its particular transformation to position itself as an application for temporary work. Its particularity is its Workforce as a Service (WaaS) platform or workforce as demand.
This WaaS helps “Companies no longer need to hire workers in their companies, since they can have workers according to their needs “and the objective is that companies can save on labor costs while they can increase their work capacity in times of higher demand, as the company itself explains. Jobandtalent are given performance incentives to build a track record with them, and this promises less downtime.
For it, the selection and hiring process has been digitized, so that Jobandtalent presents advantages such as the possibility of signing the employment contract and managing payroll directly through the app and offers companies a specific platform to obtain all the information of their workers.