Jobandtalent, the digital temporary launched in 2009, continues to increase its revenue and market share every year. Like most startups throughout Spain, Jobandtalent experienced greater success in 2021 than it did in 2020 due to the pandemic. By December 2021, the valuation of Jobandtalent has risen to $2.35 billion. Ongoing labor shortages appear to be the biggest factor impacting demand for services.
How Focusing on Technology Has Been Instrumental in Alejandro Betancourt Lopez’s Success
Jobandtalent is just one of many companies in Betancourt Lopez’s portfolio of investments and one that he feels most passionate about developing. Alejandro Betancourt Lopez was an early backer and continues to hold the most shares of the 13-year-old Spain-based startup.
With offices in Spain and the United Kingdom, Jobandtalent takes a highly technological approach to matching clients and workers. The company uses an entirely online platform and advanced data matching methods when finding the ideal person to fill a client’s open position. Just as he has done in other sectors he invests in, Alejandro Betancourt Lopez researches and watches technology to implement with Jobandtalent. He strives to provide the most efficient experience to anyone who uses the company’s platform.
Alejandro Betancourt Lopez on Taking a Risk by Expanding into the United States
On March 17, 2021, Jobandtalent announced that it had secured $120 million dollars in Series E fundraising. Vision Fund 2 from SoftBank was the primary contributor to the fund. Prior to the most recent round of fundraising, 80,000 people had created employee accounts with Jobandtalent. The company connects short-term workers with clients who need their services. Employers appreciate working with Jobandtalent because it frees them of the responsibility to manage payroll and complete several other time-consuming back-office tasks.
From an employee standpoint, Jobandtalent offers flexible, high-quality temporary assignments and benefits that meet their needs in a gig economy. A generation ago, people used temporary work to pad their resume and earn income while waiting to land a permanent job. Today, millions of workers prefer flexible work and the lifestyle it affords them. Jobandtalent has responded by increasing wages and offering some of the most robust employee benefits in the industry.
The digital startup already has several big-name clients, including eBay and Federal Express (FedEx). While some company founders may have been content with this level of success, Alejandro Betancourt Lopez has never been one to rest on his laurels. He began expanding the digital staffing agency into other countries as soon as possible after receiving proceeds from the March 2021 Series E funding round. Here is what drives him to take risks in business, in his own words:
“The way I see it is nothing risked, nothing gained. You have to take risks in order to succeed, but you also need to do your due diligence. I do not advocate taking crazy risks. That is foolish. When you take a risk, you need to be fully aware of the consequences and fully understand what you are going to do if it goes badly. That is being a good risk taker. You must be able to live with the result if the situation goes bad.”
Besides expanding Jobandtalent into key markets, Alejandro Betancourt Lopez intends to build sales and technology teams over the next two years. His efforts appear to have paid off in 2021 as the company placed 100,000 people on temporary assignments between January and September. Jobandtalent attracted more workers to its platform in 2021 and placed the same employees with different clients multiple times.
Jobandtalent Makes List of Most Dynamic Startups to Watch in 2021
In July 2021, the website Sifted.com released a list of eight companies that demonstrated resilience in the face of the pandemic. These companies survived 2020 and were thriving by halfway through 2021. Sifted.com compiled a list of 150 startups to watch but chose to feature only the top eight. Alejandro Betancourt Lopez was pleased to see Jobandtalent on that list.
The website highlighted how Juan Urdiales, a co-founder of Jobandtalent, and Alejandro Betancourt Lopez want to increase job security for the company’s employees. A primary focus for Betancourt Lopez and Urdiales in 2021 was to ensure that employees who wanted back-to-back assignments would receive them. With the demand for workers high and the supply low, they had no problem meeting this need.
Even in a global pandemic, Jobandtalent posted revenue of $500 million dollars in 2020. The calendar year 2021 just ended, but it will surprise no one to see that the innovative company posted even higher revenue thanks to its determination to thrive.