French startup works, Developer of a platform to improve temporary work, has received $ 43 million from Cathay Innovation and Bpifrance. Founded two years ago, the platform has raised $ 68 million so far. The fresh capital will be used to expand in France and abroad, and to double the research and development team.
Why so much money and why such a large research and development team for a job platform? Well, the platform does a lot more than just connect workers with an appearance. Its functions and services can be transferred to all types of “tech”: HRtech, Fintech, Edtech and even health technology.
The Paris-based company wanted to reinvent the employment agency from scratch, from onboarding (which takes two minutes with a smartphone app) to human resource management and recruiting. Thanks to an AI-based system that recommends the best profile for each task and vice versa, new jobs are filled within four hours (i.e. 95 percent). In addition, administrative management is fully automated, from timesheets to payroll.
Temporary workers have access to benefits they would otherwise not have, including instant deposits, an annual paid time savings account of 10 percent, personalized professional training as well as e-learning and medical teleconsultation.
And it works. In Iziwork, the number of users on the job quadrupled between April and December 2020. In total, the platform was used by more than 800,000 candidates and 2,000 client companies in France and Italy.
“With the economic crisis and worsening unemployment around the world, it’s more important than ever to reinvent our access to employment, especially for the least skilled,” says co-founder Mehdi Tahri.
“Thanks to technological innovations, we have the unique opportunity to offer more work by making access to employment more fluid, and better working conditions for temporary workers.”
Photo: Iziwork team