Elevation Capital and Y Combinator-backed staffing startup Able Jobs has been acquired by Instawork. This is the San Francisco-based company’s first acquisition in India, and it raised more than $160 million.
Instawork said that this acquisition will enable it to expand its reach and expertise and develop a global product.
Siddharth Srivastava, the other co-founder, will join Instawork as a product leader in its team, while Ravish Agrawal, the co-founder and CEO of Able Jobs, will advise the company as part of the acquisition.
Since its launch in 2019, Able Jobs has allowed job seekers to create profiles on the platform and participate in interactive learning modules, simulated interviews, and assessments created by professionals in the field to refine their skills.
Able Jobs, a Bengaluru-based company, says it has helped over 35,000 job seekers find employment and has about 3 million users registered on its platform. With the help of Elevation Capital, Y Combinator, Titan Capital, Mynavi, and other investors, it has raised $2.3 million.
Instawork, which was founded in 2016 by Sumir Meghani, links companies with competent hourly workers. Flexible work opportunities are offered by the platform in a number of industries, such as events, retail, warehousing, and hospitality. It has received $160 million in funding from Y Combinator, Benchmark, and Spark Capital, among other institutional investors.
