Atomico has just led a $42 million Series B funding round for Jobandtalent – a disruptive startup that solves two major pain-points in the world of recruitment: matching the right talent with the right jobs, and massively reducing the bureaucracy involved in the hiring process. Currently Jobandtalent is available in five cities: Madrid, Barcelona, Mexico City, Bogota and London. Jobtalent was founded in 2009 and is headquartered in Madrid.
Talented people from around the world have smartphones and start using them also to look for new job opportunities. The founders of Jobandtalent say that yet when it comes to the recruitment industry most of the work is still conducted offline, using outdated and inefficient business approaches like job postings in retail stores or manual screening of CVs. The team states that it is going to revolutionise the small and medium enterprise (SME) jobs market with matching technology and an innovative transaction-based mobile platform. By using sophisticated algorithms to filter out the right jobs for the right people across millions of users and hundreds of thousands of employers, Jobandtalent is bringing scale, speed and precision to the SME hiring process. Now for the first time, companies will be able to instantly access a pipeline of highly qualified candidates and manage the screening in real time, for free and from the convenience of their mobile. With their innovative transaction-based platform, Jobandtalent will further help SMEs dramatically reduce their overheads as they onboard successful candidates.
Niall Wass, an Executive-in-Residence at Atomico, will be joining the Jobandtalent board. Using his experience of working with three global, multi-billion dollar marketplaces (Betfair, Wonga and most recently Uber where he was SVP of International), he will help Jobandtalent with their overall strategy and growth. The investment will be used to accelerate the company’s international expansion and further develop its product and engineering team.
Yann de Vries, Atomico’s lead Investment Partner stated: “The global +$100Bn SME recruitment market, which is very local, offline and fragmented today, will undergo a profound transformation over the next decade and create several multi-billion dollar companies. I am absolutely certain that the offline payroll and staffing agency model will be disrupted by pure digital players. The traditional outsourced staffing model has been a big success for large employers since it helps them focus on their core competency and reduces fixed costs. However, the agency staffing model has so far been inaccessible to SMEs because it’s too expensive and traditional agencies are ill-equipped to serve thousands of small accounts. Jobandtalent is about to change that by providing a better service at a lower cost, just like Uber did for taxi services. After screening 20+ companies across 4 continents and analysing the various trends that matter for this market, we strongly believe that Jobandtalent is best positioned to become the global category leader.”