Jobandtalent, the Spanish recruiting startup promising technological-driven employer-employee matchmaking, just raised a series B of €42 million.
They closed their second series A of €23 million just last year, but after pivoting from enterprise recruitment to SME’s this year they raised another round to compete directly with the big recruitment companies, such as Adecco and Manpower. Straight from CEO and co-founder Juan Urdiales:
“We are ready to scale our platform internationally, and now we have the investment and experience needed to make it happen”
The company, with offices in Madrid and London, has a storied history in Spain, going back more than 6 years of ups and downs seems to have finally found their footing.
The latest round was led by Skype founder Niklas Zennström’s VC firm Atomico, and the fresh funding will help the company grow their team, develop their platform and also launch in more cities around the world.
“More than one billion workers have a smartphone , which means that the recruitment sector is well developed and mature and room for a mobile revolution.”
There’s no coincidence that the recruitment industry is a big deal in Spain, with one of Europe’s most rapidly growing economies and a record high youth unemployment rate, there’s a big problem to be solved.
Jobandtalent is not only competing against the traditional recruitment agencies, but startups such as Catapult, Jobtoday and Cornerjob that recently raised $10 million.
Founded back in 2009, Jobandtalent claims to have 10 million users and over 150.000 paying corporate clients.
Last year the company also took the leap of abandoning the desktop platform, and went mobile-only.
Even though Jobandtalent looks to go international, the company already have a presence in Spain, UK, Mexico, Colombia and Chile, but only in a few cities; Madrid, Barcelona, Mexico City, Bogota and London.
CEO Urdiales explains that 80 percent of their users is “very happy” with the matches they get from the algorithm:
“There is always room to improve, but the good thing about the algorithm is the more data that they’ve got the better because it’s based on a machine learning technology.”
It’s still uncertain how many hires Jobandtalent actually have made, but according to the company, advertising has doubled the last month.
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