San Francisco-based staffing startup Instawork has acquired Able Jobs, a Bengaluru-based jobtech platform, for an undisclosed amount. This acquisition marks Instawork’s first step into the Indian market, aiming to expand its product offerings and strengthen its global reach.
Boosting Product Capabilities
Instawork plans to use Able Jobs’ product innovations to enhance its capabilities and explore new market segments. The company is excited about building a product from India for the global market, utilizing the expertise of the Able Jobs team. Ravish Agarwal, co-founder and CEO of Able Jobs, will serve as an advisor to Instawork, while Siddharth Srivastava, co-founder and CPO, will join Instawork as a product leader.
“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.
What is Instawork
Founded in 2016 by Sumir Meghani, Instawork provides flexible work opportunities across various industries such as hospitality, warehousing, retail, and events. The platform connects hourly workers with businesses needing to fill shifts. To date, Instawork has raised $160 million from investors like Benchmark, Spark Capital, and Y Combinator. The company was valued at $760 million after its Series D round last year.
Know About Able Jobs
Founded in 2019 by Ravish Agarwal and Siddharth Srivastava, Able Jobs operates an online platform that equips young professionals with the skills needed for employment. The platform offers interactive learning modules, mock interviews, and industry expert assessments. It claims to have garnered three million users and helped over 35,000 candidates secure employment.
Previous Funding and Investor Exit
Able Jobs has previously raised $2.3 million from investors, including Elevation Capital, Y Combinator, and Titan Capital. As part of the acquisition deal, Elevation Capital, Titan Capital, and other investors will exit the company.
Future Plans
With the new acquisition, Instawork aims to leverage Able Jobs’ innovations to improve its services and explore new segments. The goal is to create a world-class platform that benefits workers and employers globally, starting with a strong foundation in India.
