BOSTON and CAMBRIDGE, Mass. and PARIS, July 30, 2019 /PRNewswire/ -- Vestigo Ventures, an early-stage venture capital firm focused on making investments in transformative fintech companies, and AXA Venture Partners, a venture capital fund investing in high-growth, technology-enabled companies, announced today the close of an $11 million financing round for Jobble, a leading community of on-demand workers. The funding round was led by Vestigo Ventures and AXA Venture Partners with participation from Guardian Strategic Ventures and Harlem Capital Partners.
Founded by Zack Smith and Corey Bober, Jobble is an on-demand marketplace and management platform that connects 60 million gig economy workers in the United States seeking jobs with companies offering flexible work opportunities. As one of the largest on-demand platforms in the U.S., Jobble has filled jobs in more than 1,600 cities across all 50 states.
"Worksite management is a core area of investment for Vestigo, especially as more Americans forego traditional careers in favor of gigs," said Michael Nugent, Managing Director at Vestigo Ventures. "Not only were we extremely impressed by Zack and Corey's vision, once we saw evidence of Jobble's incredible growth , we knew this would be a cornerstone investment for our efforts in worksite management."
Proceeds from the round will be used to expand Jobble's development team to enhance the platform's user experience. In addition, the Company will be building out its sales and marketing efforts to significantly expand its national footprint, with the potential to expand internationally.
"Jobble has built a market-leading platform that enables companies to quickly and cost-effectively recruit gig economy workers," added Alex Scherbakovsky, General Partner at AXA Venture Partners. "We are excited to partner with Zack and his team to scale Jobble globally and extend the Company's offerings for gig economy workers to include financial products such as insurance."
"The gig economy is revolutionizing the way people work, and with this rise in flexible work comes the need for an equally flexible hiring platform," said Zack Smith, CEO and co-founder at Jobble. "In addition to helping scale our sales and engineering teams, our partnership with Vestigo and AXA Venture Partners provides us with valuable data and the domain expertise of the fintech and insurance space to more rapidly and effectively execute our vision."
In addition to helping scale our sales and engineering teams, our partnership with Vestigo and AXA Venture Partners provides us with access to their deep background in the marketplace, including valuable data and extensive knowledge of the fintech and insurance space."
About Vestigo Ventures
Vestigo Ventures is an early-stage venture capital firm headquartered in Cambridge, Massachusetts that invests in financial technology (fintech) companies. The firm was founded by David Blundin, founder and chairman of Cogo Labs, Mark Casady, former CEO and chairman of LPL Financial, and Managing Director Ian Sheridan. Mike Nugent serves as a Managing Director. Vestigo Ventures has identified four areas of concentration: market structures, operations solutions, worksite management and personal wealth. Learn more at www.vestigoventures.com.
About AXA Venture Partners
AXA Venture Partners (AVP) is a venture capital fund investing in high-growth, technology-enabled companies. AVP has built a unique investment platform specialized in tech investments with $600 million of assets under management through two pillars of investment expertise: Direct Funds with $425 million (Early and Growth) and Fund of Funds with $175 million. To date, AVP has invested in more than 40 Early and Growth equity deals. AVP team operates globally with offices in San Francisco, New York, London, Paris and Hong Kong. In addition to providing portfolio companies with capital, AVP helps companies with business development, enabling them to accelerate their growth and scale globally. Learn more at axavp.com.
SOURCE Vestigo Ventures