Instawork, a staffing firm, has acquired Able Jobs, which is supported by Y Combinator and Elevation Capital. This is the San Francisco-based company’s first acquisition in India, after raising more than $160 million. According to Instawork, this acquisition would help it establish a global offering by using its knowledge and reach.
As part of the acquisition, Ravish Agrawal, co-founder and CEO of Able Jobs, will serve as an advisor to Instawork, while the other co-founder, Siddharth Srivastava, will join the company as a product leader.
Able Jobs, which launched in 2019, allows job seekers to establish profiles on the platform and participate in interactive learning sessions, mock interviews, and exams created by industry professionals to help them improve their scale.
Bengaluru-based Able Jobs claims to have helped over 35,000 people find work and has around 3 million registered users on its website. It has raised $2.3 million from Elevation Capital, Y Combinator, Titan Capital, Mynavi, and other investors.
Sumir Meghani founded Instawork in 2016. It links businesses with competent hourly labor. The platform offers flexible job possibilities in a variety of industries, including hospitality, warehousing, retail, and events. It has raised $160 million from institutional investors including Benchmark Capital, Spark Capital, and Y Combinator.
In 2015, Instawork was developed to quickly connect businesses with hourly workers, making hiring as simple as ordering a ride or a meal. Instawork is now the top marketplace for hourly workers, with over 6 million hourly workers on the network, 40+ cities in North America, and more than 2 billion data signals that optimize business-worker connections.
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