Staffing startup Instawork acquires YC-backed Able Jobs
As a part of the acquisition, Agarwal, Co-founder and CEO of Able Jobs, will serve as an advisor to Instawork, while Srivastava, Co-founder and CPO, will join as a product leader in the Instawork team.
Flexible staffing solution provider has acquired YC and Elevation Capital-backed Able Jobs to strengthen its product suite.
This marks the San Francisco-based company's first acquisition in India.
Founded in 2019 by Ravish Agarwal and Siddharth Srivastava, is a job-tech platform to help young professionals with the skills and knowledge necessary to secure employment.
As a part of the acquisition, Agarwal, Co-founder and CEO of Able Jobs, will serve as an advisor to Instawork, while Srivastava, Co-founder and CPO, will join as a product leader in the Instawork team.
According to a statement by the company, Instawork aims to leverage Bengaluru-based Able Jobs' product innovations to enhance its own capabilities and explore new segments. This acquisition will also help Instawork build a product from India for the global market and benefit from Able Jobs's expertise, the company stated.
Founded in 2016 by Sumir Meghani, Instawork provides flexible work opportunities across various industries, including hospitality, warehousing, retail, and events.
So far, the company has raised $160 million in funding from investors like Benchmark, Spark Capital, and Y Combinator, and is expanding rapidly across the United States, meeting the growing demand for gig work and flexible staffing solutions.
“This acquisition marks an exciting new chapter for Able Jobs. We are thrilled to bring our knowledge and experience to Instawork, helping to build a world-class platform that benefits workers and employers globally,” said Agarwal.
Able Jobs has also placed nearly 35,000+ professionals in the field of Analyst, Sales, Support, Marketing, Finance and more, the statement said.
It has so far raised $2.3 million funding from Elevation Capital, Y Combinator, Titan Capital, Mynavi, and angel investors like Neeraj Arora, ex-CBO of WhatsApp and Founder of Venture Highway, and Farid Ahsan, Co-founder of ShareChat.
Edited by Megha Reddy
