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HR Tech Outlook | Friday, October 21, 2022
The deal between WorkGenius and JBC establishes a global, high-skilled freelance staffing network powered by artificial intelligence, helps to better match candidates with positions, and reduces hiring bias.
FREMONT, CA: "We're not trying to push anyone out or be a fierce competitor. Our goal is to incorporate the invaluable expertise of experienced staffers and offer them specialized tools to increase their efficiency. Let our AI do all the hard work of going through endless files, and instead use your time connecting the right people with their ideal job. There were many valuable lessons to be learned throughout the acquisition process. These experiences will aid similar undertakings in the future. We've proven that we are able to expand successfully, and now we're keeping a close eye on the market in case any comparable opportunities arise." says Marlon Rosenzweig, CEO of JBC.
WorkGenius, an end-to-end freelance technology company that utilizes artificial intelligence to connect highly qualified talent has acquired JBC, a New York-based staffing firm, aiming to revolutionize the freelance talent industry. Carlos Medeiros, a former partner of Softbank, and Chad Leat, a former vice chairman of CitiGroup, invested with existing equity investors John Jahr and Axel Sven Springer.
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Investcorp BDC and CION Invest Corp supplied the debt arrangement, and both participated in the stock. This transaction, finalized on 7 June 2022, restructures the combined firm as WorkGenius Holdings. Previously, the Hamburg, Germany-based company had raised $23 million in a post-Series A funding round.
WorkGenius Holdings' talent pool will match using a range of characteristics that eliminate unconscious prejudice, most notably gender or sex, by leveraging its proprietary technology. WorkGenius also views the acquisition as a model for future expansion. The general concept of enhancing current structures with WorkGenius' cutting-edge technology approach applies to future strategic advancements.
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