Jobandtalent Raises $103M to Fuel AI-Powered Recruitment

Jobandtalent Secures €92 Million in Series F Funding

Jobandtalent, a marketplace leveraging artificial intelligence to connect individuals with companies seeking hourly employees, has announced a funding round of €92 million ($103 million).

Funding Details and Valuation

This Series F investment includes contributions from Atomico, BlackRock, DN Capital, Hercules, Infravia, Kibo, and Kinnevik. The company, headquartered in Madrid, Spain, is now valued at €1.3 billion ($1.5 billion) post-money.

Despite appearing as a substantial investment from prominent backers, this round represents a down round for Jobandtalent.

Previously, in December 2021, Jobandtalent secured $500 million in a Series E round, achieving a valuation of $2.35 billion.

Valuation Adjustment Explained

A company spokesperson explained the valuation decrease, stating it “reflects a valuation adjustment in line with broader market dynamics, particularly within the tech and growth-stage sectors.”

The funding will ensure Jobandtalent maintains strong capitalization to pursue its next growth phase. The spokesperson further noted consistent outperformance of industry trends over the past year, driven by the platform’s strength and AI integration.

European Startup Context and Past Successes

The current funding environment within the European startup ecosystem may also contribute to this adjustment.

Jobandtalent benefited significantly from favorable conditions in recent years. The company experienced growth during the COVID-19 pandemic, as both businesses and workers sought flexible working arrangements.

Sectors such as e-commerce and logistics experienced rapid expansion, creating a high demand for personnel, which Jobandtalent was well-positioned to address.

To date, the company has facilitated placements for over 300,000 workers at more than 3,250 companies, with a focus on logistics and retail industries.

Current Economic Challenges

However, the timing of this funding coincides with a period of economic uncertainty in the European labor market. Skills gaps present opportunities, but declining corporate profits and a stagnant Eurozone economy pose potential challenges.

The potential impact of artificial intelligence also introduces a new dynamic. Businesses are exploring AI as a cost-effective solution for certain tasks, potentially impacting job availability.

Leveraging AI for Workforce Efficiency

Jobandtalent is uniquely positioned, relying on a human workforce while simultaneously integrating AI to enhance efficiency. The new funding will be allocated to international expansion and the development of AI-powered agents.

Introducing Clara: An AI Recruitment Agent

The company’s first AI agent, named Clara, focuses on recruitment. In a limited trial, Clara conducted over 180,000 interviews, resulting in approximately 7,000 hires and achieving industry-leading fill rates, even during peak demand.

Jobandtalent claims Clara’s output is comparable to that of thousands of human recruiters.

Further AI agents are planned for launch this year, automating additional functions currently performed by human employees.

Future Vision and Strategic Goals

“This capital injection reaffirms our shared vision for the future of Jobandtalent,” stated Juan Urdiales, co-founder and co-CEO. “We are now well-positioned to evolve into a fully integrated employment platform, enabling companies to manage both temporary and internal workforces more effectively.”

Urdiales believes the next-generation AI agents will significantly improve productivity, create better opportunities for workers, and deliver substantial cost savings for businesses.