Instawork Acquires Able Jobs to leverage Product Innovations
The purpose of this acquisition is to help Instawork build product, which is India made and caters to Global audience, using Able Jobs expertise. Instawork aims to leverage Bengaluru-based Able Jobs’ product innovations to enhance its own capabilities and explore new segments.
Through this acquisition Ravish Agrawal, co-founder and CEO of Able Jobs, will serve as an advisor to Instawork, while Siddharth Srivastava, co-founder and CPO will join as a product leader in the Instawork team.
Instawork on Tuesday announced about the acquisition of YC and Elevation Capital-backed startup Able Jobs for an undisclosed amount. This is Instawork’s the San Francisco-based company’s first acquisition in India.
This will also be a new beginning for Ravish Agrawal, co-founder and CEO of Able Jobs, will now serve as an advisor to Instawork, while Siddharth Srivastava, co-founder and CPO will join as a product leader in the Instawork team.
Ravish and Siddharth founded Able Jobs in 2019 as a career platform for early professionals in India. In the last five years, Able Jobs said it has garnered three million users who have accessed the platform to apply for jobs, prepare for interviews, and get “real world skills”.
Able Jobs has raised a total of $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.
So far, it said that more than 2,500 companies have used the Able Jobs platform for their entry-level hiring.
Instawork, mainly serve companies with hourly based workers to companies that need to fill shifts, announced a $60 million Series D last year in May, to expand its use of artificial intelligence (AI), and match workers with shifts on its mobile app and platform.
The company has raised a total funding of $160 million, and was last valued at $760 million.
Instawork is backed by investors like Benchmark, Greylock, Craft Ventures, Spark Capital, Y Combinator and venture capital fund TCV.
