Kinnevik invests $ 115 million in Jobandtalent, the
Kinnevik AB (publ) (“Kinnevik”) announced today that it is investing $ 115 million in Jobandtalent, a labor market that matches workers with temporary roles – with the aim of make the labor market more fluid and accessible by removing obstacles to job search and hiring.
Jobandtalent has developed proprietary job matching technology to match workers to temporary positions in companies across a variety of industries including logistics, e-commerce, warehousing and manufacturing.
Digitization and globalization are forcing employers to adapt to new ways of working, and there are societal pressures on companies to take more responsibility for temporary workers, making many of the challenges possible. new and innovative services provided in some of Kinnevik’s priority areas. Within consumer services, Kinnevik has increasingly focused on managed marketplaces that help resolve a highly fragmented product and service offering, and enabling businesses that help alleviate problems in oriented businesses. to consumers. The Jobandtalent opportunity sits at the intersection of these themes.
Jobandtalent’s goal is to make it easy for people to find regular, reliable work and to have the security and benefits typically associated with full-time employment – including pensions, sick and vacation leave, and benefits. training courses. Workers can apply and manage roles, submit documents, sign contracts and get fully paid in the Jobandtalent app. The company is headquartered in Madrid and currently operates in 9 markets with over 1,300 companies using the platform. More than 100,000 workers have used Jobandtalent to find temporary positions in the first nine months of 2021 alone.
Natalie Tydeman, Senior Director of Investments at Kinnevik, said: “We are delighted to invest in Jobandtalent and support their innovation in the modern job market through their Workforce as a Service platform, and put people back at the center of employment as Jobandtalent accelerates their business growth.
Juan Urdiales, co-founder and CEO of Jobandtalent commented: “We are delighted that Kinnevik is supporting us on the next leg of our journey. Kinnevik has an impressive track record in building successful and sustainable global businesses, and shares our long-term vision and ambition to make a real impact on the lives of workers around the world.
Kinnevik led the $ 500 million round with a $ 115 million investment for a 5% stake, joined by SoftBank Vision Fund 2. The round puts Jobandtalent at a valuation of $ 2.35 billion. The funding will be used to accelerate the company’s expansion into key markets such as the United States, significantly increase the size of its technical and sales teams over the next two years and add key leadership roles. Jobandtalent is growing by 130% per year and its EBITDA is profitable.
For more information visit www.kinnevik.com or contact:
Torun Litzén, Director of Investor Relations
Telephone +46 (0) 70 762 00 50
E-mail [email protected]
Kinnevik’s ambition is to be the leading listed growth investor in Europe, and we support the best digital companies for a redesigned daily life and to generate significant returns. We understand complex and rapidly changing consumer behaviors, and have a strong and expanding portfolio in healthcare technology, consumer services, food technology, and fintech. As a long-term investor, we firmly believe that investing in sustainable business models and diverse teams will bring the best returns for shareholders. We support our companies at every stage of their journey and invest in Europe, in particular in the Nordic countries, and in the United States. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik shares are listed on the Nasdaq Stockholm Large Cap List under the KINV A and KINV B stock codes.