WorkGenius, a freelance technology company has acquired US based JBC, a staffing company, in a landmark deal that together, will aim to transform the freelance staffing industry through proven operations, great people, and cutting edge technology.
The combined company will be close to $100m in revenue, with EBITDA in the high teens and more than 250 employees. The company grows north of 50% YoY, driven by a tenured team, unique technology product, strong trends of digitalization in the human capital space, and a shift to flexible workforce models.
“Our goal has always been to transform the $600bn freelance industry, to make it more equitable and accessible through our technology. Partnering with JBC and its entire team is a big step towards achieving that goal. Both teams share the same vision and we are looking forward to providing unprecedented access to the best talent through our AI powered WorkGenius platform, hybrid, or, direct with our trusted recruiter and consultant network. We see this partnership as a major benefit to our clients, our freelancers and to both our teams.” says Marlon Rosenzweig who will be the new CEO of WorkGenius Holdings, based out of New York City.
Based in NY, JBC which operates primarily in the US, UK, Spain, France, Canada and Hong Kong, was founded by Bryan Zaslow. Zaslow will continue to lead the organization forward supporting a robust offering of freelance and permanent search work.
WorkGenius was founded in Hamburg, Germany, by Marlon Rosenzweig and Daniel Barke. The success of the end-to-end freelance management platform led to its US expansion, now headquartered in NYC. WorkGenius has seen tremendous growth due to the digitization of the human capital space, a shift to freelance from traditional employment, and strong growth in the served end markets.
Rounding out the executive management team will be Daniel Barke (Chief Revenue Officer), and Keith Geller (Chief Operations Officer).
“The JBC team is thrilled to join forces with Workgenius and excited to bring the power of Workgenius’ technology to our clients, affording them access to a lightning fast matching algorithm that can provide the most qualified talent and a freelance management tool to manage contingent workforces compliantly on a global scale. Our future will have a unique offering of pure tech and hybrid, empowering our teams” adds Zaslow.
The company headquarters will continue to be located in NYC, USA with offices across the US, London, England, and Hamburg, Germany.
Chad Leat, former Vice Chair of CitiGroup, joins existing equity investors including John Jahr and Axel Sven Springer. Investcorp BDC and CION Invest Corp provide the debt facility and also invested in the equity.
“Freelance adoption is like a flywheel driven by the talents’ preference to work flexibly, as well as companies desiring to have a more flexible workforce. The end markets we serve have seen strong tailwinds, in addition to a seismic shift to more freelancing in the workforce. We intend to maintain our rapid growth both organically and inorganically on a global scale.” adds Rosenzweig.