San Francisco-based staffing solutions provider Instawork has acquired the technology platform of Bengaluru-based online placement forum Able Jobs for an undisclosed amount. One of Able Jobs’ cofounders, Ravish Agrawal, will serve as an advisor to Instawork, while the other cofounder, Siddharth Srivastava, will join Instawork as a product leader.
As part of the acquisition, Elevation Capital, Titan Capital, and other venture investors in Able Jobs will exit the company. The remaining small team of approximately four employees will be integrated into Instawork, according to a spokesperson.
Able Jobs, founded in 2019, operates an online platform designed to equip young professionals with the skills and knowledge necessary for securing employment. The company has assisted over 35,000 candidates in finding jobs, with its app being used by nearly three million users and over 2,500 employers.
Able Jobs had raised a total of $2.3 million from Elevation Capital, Y Combinator, Titan Capital, Mynavi, FirstCheque, and super angels like Neeraj Arora and Farid Ahsan.
Instawork, another startup backed by Y Combinator and founded in 2016 by Sumir Meghani, is an online staffing platform that connects businesses with skilled hourly workers. The platform offers flexible work opportunities across various industries, including hospitality, warehousing, retail, and events.
With this acquisition, Instawork plans to leverage Able Jobs’ product to enhance its own capabilities and expand its reach globally from India, as stated by the company. It has raised $160 million in equity funding over multiple rounds and was last valued at $760 million in 2023. It is supported by investors such as Benchmark, Greylock, Craft Ventures, Spark Capital, Y Combinator, and TCV.
Ravish Agrawal expressed that the goal behind starting Able Jobs in 2019 was to create an affordable and impactful platform for job seekers to navigate their careers. He added that Instawork’s current ventures in new areas within the United States could benefit from Able Jobs’ product, potentially accelerating their progress.
