Spanish digital employment agency JobAndTalent.com will reportedly close a €40 to 45 million ($45 to 50 million U.S.) funding round in October 2019. Its most recent funding was €10 million ($11.7 million U.S.) from Associated Ventures Corp. in June 2018.
Co-founder and co-CEO Juan Urdiales told La Informacion the majority of the funds will be used to reinforce the company’s capital, with some allotted to territorial expansion
La Informacion reported the deal has been in the works since 2018 but the lead investor is not confirmed (or at least not named). It speculates that it will be an international company that will replace Atomico as JobAndTalent’s largest investor.
The British venture capital firm currently holds around 20% of JobAndTalent shares, thanks to a $42 million U.S. investment in June 2016. La Informacion suggested that Atomico would join, but not lead, the current round.
JobAndTalent has had a long journey toward financial stability. The company was founded as a candidate-focused job matching site and pivoted more than once before settling into its current digital temp agency form.
Its growth from gross revenues of €49 million ($55.6 million U.S.) in 2017 to €136 million ($154.4 million U.S.) in 2018, makes it an appealing prospect for investors — especially if it continues to expand beyond its seven existing markets: Spain, Britain, France, Sweden, Colombia, Mexico and France.