SoftBank and BlackRock Invest $218 Million in Jobandtalent
(Bloomberg) -- Jobandtalent, the Spanish jobs marketplace, has raised 183 million euros ($218 million) from SoftBank Group Corp.’s Vision Fund 2 and BlackRock Inc. to fund its expansion into new markets, including the U.S.
The Vision Fund invested 100 million euros while BlackRock has committed to 83 million euros in debt financing, the company said in a statement on Wednesday. The funding comes after an 88 million euro round closed in December. The company declined to comment on its valuation.
Jobandtalent’s sales are expected to double this year, its revenue run rate reached 500 million euros in 2020, and earnings before interest, taxes, depreciation and amortization turned positive. The company’s thrived during the Covid-19 pandemic, supplying temporary drivers and workers to companies including EBay Inc., Ocado Group Plc, Bayer AG and Banco Santander SA.
“We want to help match these workers with the right roles at the right companies, and make sure they have the benefits and security of employment,” co-Chief Executive Officer Juan Urdialessaid in the statement. “The past year has shown us how critical these jobs are to keeping our economies running, and we think there is a huge opportunity to treat workers well and help businesses fill the roles they need.”
Jobandtalent offers its workers access to pensions and sick pay. The business uses a machine learning algorithm to match people with appropriate jobs based on their experience and schedules, Urdiales said.
The company operates in Spain, the U.K., Germany, France, Sweden, Mexico, Columbia and Portugal. It’s raised 310 million euros since it was launched in 2009 from investors including Atomico, DN Capital and Quadrille.
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