Jobox Raises $42 Million to Connect Skilled Labor with Enterprises

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Jobox Raises $42 Million in Series B funding to Connect Skilled Labor with Enterprises

Connecting skilled workers to opportunities has been around for a while, for example Angie's List or Good Contractors List. Both of these platforms are subscription based and suggest that only have vetted contractors are part of their networks.

Jobox, which has been around since 2016 and considered in stealth mode, offers something similar at the surface. But when we peel back the onion, there is a competitive advantage at the heart of their offering. 

The way they operate is by offering an app, where home service professionals have a free toolbox on their smart phone device, to get their small business off the ground. On the other side of the platform, they have large enterprises that often outsource repair work. Jobox matches these outsourced jobs to the skilled, vetted services professionals, based on their location, skills and criteria, using a marketplace leveraging an artificial intelligence-based infrastructure.

Currently, Jobox has 50 enterprises on their platform and almost 5000 vetted professionals on their marketplace. Jobox revenue comes from the 40% of the transactions fee, when professionals complete the job. So, the professionals keep 60% and 40% is split between Jobox and the initiating organizations as well. From a geographical spread, Jobox is already in 39 states and has processed more than $1 Billion of transactions on their platform, with $10 million in revenue in 2021. Their current services focus mainly on locksmiths, garage door repair, pavement repair and carpet cleaning.

Whilst the company has raised money before, the $42 Million Series B, marks it's official coming out of stealth mode. The intent of this new funding is to expand into additional cities and expand its services to plumbing and electricians. This will enable Jobox to capture a piece of almost $595 billion home services industry.

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