Total amount raised
$17 Millions
Latest funding date
09/01/2022
Location
Title
Jobbatical has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company specializes in employee relocation and global mobility services, leveraging a combination of in-house experts and AI-powered technology.
Keep reading to explore the intricacies of Jobbatical's fundraising journey and the investors backing this innovative platform.
What Is Jobbatical?
Jobbatical, founded in 2014, is headquartered in Santa Barbara, California, and Munich, Germany. The company was established by Karoli Hindriks and aims to simplify employee relocation and global mobility services.
Combining in-house experts with AI-powered technology, Jobbatical handles visas, permits, and settle-in services for international teams. Their comprehensive offerings include immigration assessment, visa and residence permits, renewal management, accommodation search, registration and tax support, and essential setup services.
With a dedicated team, Jobbatical continues to grow, making global mobility stress-free for companies and their employees.
How Much Funding Has Jobbatical Raised?
- Seed Round
- Amount Raised: €260k
- Date: October 30, 2014
- Lead Investors: SmartCap
- Motivation Behind the Round: To solve the problem of finding short-term professional gigs and to create a platform for matching employers with skilled short-term hires.
- Funding Round
- Amount Raised: $2 million
- Date: March 2, 2016
- Lead Investors: Union Square Ventures, LocalGlobe
- Motivation Behind the Round: To build a global marketplace for "career adventures" and to support the company's mission of matching tech professionals with job opportunities abroad.
- Series A Round
- Amount Raised: $4 million
- Date: September 28, 2017
- Lead Investors: Mistletoe
- Motivation Behind the Round: To expand efforts through partnerships in the Asia-Pacific region and help cities build innovation hubs by removing geographical bias from hiring decisions.
- Series A
- Amount Raised: €11.6 million
- Date: September 9, 2022
- Lead Investors: Nordic VC Inventure
- Motivation Behind the Round: To expand Jobbatical's services to thirty new countries in the next 24 months, leveraging the growing trend of digital nomadism and the need for streamlined employee relocation and immigration processes.
Total Amount Raised: $19.6 million
Current Valuation: Not publicly disclosed
Key Investors
- Inventure
- Details: Inventure is a Nordic venture capital firm that led Jobbatical's €11.6 million funding round. They focus on early-stage technology companies in the Nordic and Baltic regions.
- Investment Focus Areas: Technology, early-stage startups, innovation
- Notable Investments: Wolt, Blueprint Genetics, Swappie
- Union Square Ventures
- Details: Union Square Ventures (USV) is a U.S.-based venture capital firm known for investing in internet services that create large networks. They participated in multiple funding rounds for Jobbatical.
- Investment Focus Areas: Internet services, technology, high-growth startups
- Notable Investments: Twitter, Etsy, Coinbase
- LocalGlobe
- Details: LocalGlobe is a venture capital firm led by Saul Klein and Robin Klein. They co-led Jobbatical's $2 million funding round.
- Investment Focus Areas: Seed investments, technology startups, impact investments
- Notable Investments: TransferWise, Citymapper, Improbable
- Mistletoe
- Details: Mistletoe is a Japan-based investment firm founded by Taizo Son. They led Jobbatical's $4 million Series A funding round.
- Investment Focus Areas: Innovative technologies, startups, societal impact
- Notable Investments: Not explicitly mentioned
- SmartCap
- Details: SmartCap is an Estonian taxpayer-funded venture capital firm. They led Jobbatical's €260k seed round.
- Investment Focus Areas: Startups, innovative companies, early-stage investments
- Notable Investments: Not explicitly mentioned
What's Next for Jobbatical?
Jobbatical stands at the cusp of a significant opportunity, driven by the rise of digital nomadism and the increasing demand for streamlined employee relocation services. With plans to expand to thirty new countries in the next 24 months, the company is poised to tap into a vast market of international movers. The recent €11.6 million funding round underscores the potential for further growth, especially as Jobbatical continues to innovate in making worker migration paperless and more efficient.
Future fundraising opportunities seem promising, given the company's impressive growth metrics, including 8x ARR and 19x MRR growth in Germany. However, challenges such as navigating regulatory complexities across multiple countries and competing with established firms like Deloitte remain. As Jobbatical scales its operations, ensuring the adaptability and scalability of its platform will be crucial to maintaining its growth trajectory.
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