Jobbatical raises €11.6M as worker migration goes paperless
Jobbatical -- which specializes in relocating workers and whose business has seen an uplift in the post-pandemic work environments as so many workers become "digital nomads" -- has raised an €11.6 million funding round, led by Nordic VC Inventure. Additional investors included Union Square Ventures, Swiss Post Ventures, Karma VC, Metaplanet, Devotion Ventures, and angel investors Kristel Kruustük, Indrek Prants, Andres Kull, and former head of Airbnb Experiences Joe Zadeh. As the world becomes fully paperless in terms of migration, Jobbatical is well placed to take advantage of a world previously dominated by the likes of Deloitte and others.
Jobbatical manages employee relocations, in particular for high-growth tech and fintech companies like N26, TravelPerk and Personio.
Around 1 in 30 people move internationally annually.
The company says it’s experienced 8x ARR growth in the past 12 months and 19x MRR growth in Germany, while also getting to cash flow and EBITDA positive, it claims.
Joe Zadeh, angel investor and former head of Airbnb Experiences, said in a statement: “When my family was relocating internationally the process was confusing and required several months of administrative hurdles. When I learned about Jobbatical, I was compelled by their progress on making the whole process extremely simple. This will be great for companies since crossing country borders brings in new perspectives and gives employees far more flexibility.”
Founded by Estonian entrepreneurs and siblings Karoli and Ronald Hindriks, and Ankur Agarwal, Jobbatical pivoted from recruitment toward streamlining employee relocation and immigration processes.
Karoli Hindriks told me via email: “The exciting part about our market is that a lot of it is being created as we speak. On top of the traditional relocation, the number of digital nomad employees exploded post-pandemic. Never in human history have people moved as much as they do today and the needs are very different from traditional relocation. I call this new market borderless living technology and we are helping to create it.”
“Within the three years since we pivoted, with just €2 million we have built by far the most scalable product in our industry and we can start a new country on the platform within a day with zero code. In addition, we have automated the most crucial steps of relocation from the automated case assessment to form filling and can seamlessly adapt that to every new country within days. That is why with this Series A we are able to expand to thirty new countries in the next 24 months,” she added.