US-based Instawork acquires India's jobtech startup Able Jobs; Here's why

San Francisco-based staffing startup Instawork has acquired Able Jobs, a Bengaluru-based jobtech platform, for an undisclosed sum.

Notably, this is Instawork's first acquisition in India. The company aims to expand its product suite and strengthen its global reach.

So far, Able Jobs has raised $2.3 million from investors, including Elevation Capital, Y Combinator, and Titan Capital. As part of the deal, Elevation Capital, Titan Capital, and other investors will exit the company.

Enhancing capabilities and exploring new segments

With this acquisition, Instawork aims to leverage Able Jobs' product innovations to enhance its capabilities and explore new segments. The company plans to build a product from India for the global market, utilizing Able Jobs' expertise. 

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 as a product leader in the Instawork team.

"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 does Instawork do?

Founded in 2016 by Sumir Meghani, Instawork provides flexible work opportunities across various industries, such as hospitality, warehousing, retail, and events. The company pairs hourly workers with businesses needing to fill shifts.

To date, Instawork has raised $160 million from investors like Benchmark, Spark Capital, and Y Combinator, and was valued at $760 million after its Series D round last year.

Able Jobs' market presence?

Founded in 2019 by Ravish Agarwal and Siddharth Srivastava, Able Jobs operates an online platform that is designed to equip 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 has helped over 35,000 candidates secure employment.