Jobletics

Online Staffing Solution

Company Information

Website:

https://www.jobletics.com/

Sector:

Labor Management, Business Management Software

Location:

Somerville, MA

Jobletics is an online and mobile staffing platform that enables companies to hire and manage workers easily.

The company is targeting businesses in the foodservice, hospitality, and retail industries. Together, these industries present a $47 billion market opportunity.

For managers of these businesses, overseeing staff can be a major challenge:

For example, staff turnover rate can exceed 120% (in other words, a company that employs 100 people might have 120 employees come and go during a given time period)...

And training these employees costs businesses as much as $7,000 per person.

In addition, managers are forced to handle every aspect of the staffing process — from interviewing, to training, to scheduling their shifts.

Meanwhile, many hourly workers in these industries struggle to find full-time work. Instead, they average 26 hours per week per job, and are forced to piece together multiple part-time jobs to make a living.

Jobletics provides a solution to this problem:

Simply put, it reduces staffing headaches for managers, and provides hourly workers more opportunities to earn shifts.

For hourly workers, the process begins by submitting an application to be listed on Jobletics’ platform. Each candidate must go through behavioral and skill-based interviews with a member of Jobletics’ staff to determine whether they're a qualified and reliable worker.

If accepted, workers, known as “Jobletes,” can immediately set their desired schedule on the platform and start requesting shifts. Jobletes are paid on a weekly basis through Jobletics.

In addition, to help broaden their skills, workers can use Jobletics to access training videos on various tasks.

By gaining access to these Jobletes, business managers can develop a team of qualified, vetted workers for positions they need filled.

Managers can rank each worker on the platform and prioritize which workers they'd prefer to use.

Businesses pay workers through the Jobletics mobile app, and are charged an additional flat rate each time a shift is requested. This is how Jobletics generates revenue.

Jobletics originally launched in Boston, and has since expanded to Philadelphia and San Francisco.

The company has more than 300 businesses on its platform, including Compass Group, a $19 billion food management company, and Roche Brothers, a $400 million grocery store chain that has more than 20 stores.

Since using Jobletics, Roche Brothers reports saving more than $600,000 in lost productivity and labor costs.

For the past two years, Jobletics has experienced 380% year-over-year revenue growth. In 2017, the company generated $530,000 in revenue; however, revenue in the final quarter of 2017 reached $223,000, which puts Jobletics on track for a $1 million annual run rate.

Jobletics has several notable advisors. These include Joe Kelley, the former President of Stop and Shop regional supermarket chain, and Gene Zimon, Manager of JAZFund, a private equity investment fund focusing on early-stage companies.

Company CEO Rahul Sharma was previously a lead engineer at LinkedIn and Yelp. In addition, he was born into a family that owns several restaurant and retail businesses, enabling him to gain industry experience at a young age.

The company believes it would be an attractive acquisition candidate. Its suitors could include a food-tech company such as GrubHub, a staffing company such as Adecco, or a large retailer such as Walmart or Costco.

Team Background

Rahul Sharma - Co-Founder & CEO

Before starting Jobletics, Rahul served as a technical consultant for Yelp, a website featuring crowdsourced reviews of restaurants, hotels, and local businesses.

He also worked as a systems developer for LinkedIn, and formerly served as a systems engineer for Tessera, an Internet technology company.

Sharma was born into an entrepreneurial family that owned several restaurant and retail businesses. This gave him industry experience from an early age.

Rahul earned a Bachelor’s degree in Finance from California Polytechnic State University and is working toward completing his Master’s degree in Computer Science.

Shane Arnold - Co-Founder & COO

Prior to starting Jobletics, Shane served as Principal for LPMG, a marketing and advertising company. While there, he created marketing and product strategies for companies in various industries including cybersecurity, healthcare, and business analytics.

Shane formerly served as General Manager of the Future Insights Division at Wellesley Information Services. This company produces educational conferences for web and mobile designers.

For four years, he served as Vice President of Marketing for VaultLogix, a computer security company that was acquired by InterCloud Systems.

Arnold received a Bachelor’s degree in Management Science from MIT and an MBA from the University of Pennsylvania.

Co-Investors

Raising
$1.07 million
Committed
$136.87K (13%)
Current Valuation
$3.7 million
Min. Investment
$500
Deal Type
Title III
(For all investors)
Offering Type
Equity
Finance History
  • $300K
    2018-01-15
    Unknown
Notable Investors
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