Zenjob closes $50m Series D

The world of work has changed completely during the 2020s. The COVID-19 pandemic not only normalized remote working, it has transformed people’s attitudes towards the world of work.

Rather than looking for long-term, full-time work, many are embracing the flexibility of gig work – especially now it is starting to come with stability, as well as better perks and benefits. Employers are also relying on gig workers to supplement talent shortages they are currently struggling with.

In this context, gig economy tech is booming. Hot on the heels of Jobandtalent and Shift Smart raising significant funding rounds ($500m and $95 million respectively), Berlin-based Zenjob has closed a $50 million Series D. This comes within two years of its $30 million Series C.

The Series D is led by Aragon; existing investors, including Acton Capital, Atlantic Labs, Forestay and Axa Venture Partners, also participated in the round.

The future for Zenjob

Since 2015, Zenjob has focused mainly on the Gen Z and student market – hence its name – and particularly on the retail, logistics, and hospitality market.

It directly employs the gig workers as temps – and takes care of admin including paying them. While employers sign a contract with Zenjob so they can access its pool of talent.

To date, the company has worked with 2,500 companies – it does not name its customers – across 10,000 locations in Europe. It has a pool of 40,000 European gig workers.

As a result of this new funding, Zenjob wants to further expand into more locations in Germany and the Netherlands – as well as launch in the UK. It will also fund more product development, including moving from 75% to 95% automated processes, and will look to grow its tech team, according to TechCrunch.

Ultimately, for Zenjob, the idea is to improve its offerings to the gig workers, as well as make the process of booking gig work seamless for its customers. The gig economy is alive and well, and will continue to boom with the help of tech like Zenjob.