Betterplace, which claims to be India’s largest tech platform delivering solutions for blue collar workforce management, has completed its Series B funding round, having raised $10 million. This brings the platform’s to-date-raise to a massive $16 million.
The round was led by Singapore based Jungle Ventures, and saw participation from existing investors like Unitus Ventures, 3One4 Capital, and Venture Highway.
Betterplace serves the highly unregulated market of blue collar jobs in India, and fulfills the requirements of both enterprises and the workforce in this fragmented and underserved ecosystem through its data-driven tech platform. With this new investment, the company will continue to deliver innovative products, build its presence in new business verticals, expand its footprint in the SME sector, and grow internationally. Moreover, it will also scale its Hire-Engage-Manage digital solutions.
Pravin Agarwala, Co-founder CEO, Betterplace, says, “The blue collar ecosystem is undergoing massive digital transformation and the ongoing pandemic has accelerated this adoption. We are onboarding more than 150k people digitally every month and aim to serve 2000 enterprises and a 3 million workforce by the end of this financial year.”
As a part of this investment, Anurag Srivastava, Founding Partner at Jungle Ventures will be joining the board. He said, “The global blue collar workforce space is expected to be $455 Bn opportunity globally by 2023 and we are very excited to partner with Betterplace on this journey with them. We look forward to working with the team and help them to expand in India and South East Asia”.
Betterplace offers individual interfaces for both — the blue collar worker seeing work and the enterprise looking to hire her/him.
On the employer side, Betterplace offers a seamless end-to-end workforce management system with its inbuilt proprietary digital tools and services. With this, companies can hire from a wide pool of potential employees, and provide automatic one-click payroll management . Moreover, it also facilitates completely automated onboarding with inbuilt compliance, touchless attendance management, real-time visibility in resource utilization and much more.
On the employee side, it offers an extensive employee engagement platform that gives access to a variety of upskilling, financial support and medical benefits program.
In short, Betterplace provides a platform for employers to hire a workforce for blue collar jobs in bulk, also allowing them to manage said workforce using the same platform. The startup has gained a lot of traction, and has forged partnerships with Amazon, Zomato, Flipkart, Accenture, L&T, Mahindra Logistics, and many more.
