Betterplace, an online blue-collar workforce management platform has raised $10 million in a Series B round led by Jungle Ventures. Existing investors, Unitus Ventures, 3One4 Capital, and Venture Highway also participated in the round. With this, Betterplace has raised a total of $16 million since its inception
With this fundraise, the company says it will continue to work on innovative products, build its presence in new business verticals, expand its footprint in the SME sector, and grow internationally. Betterplace will also be scaling its Hire-Engage-Manage digital solutions which connect over 150 million blue collar workforce with the growing hiring needs of enterprises.
Launched in 2015, Betterplace addresses the $30 billion India opportunity of blue-collar workforce management and claims to be impacting over 450 million people.
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.”
For enterprises, it offers an end-to-end workforce management system with its inbuilt proprietary digital tools and services which provide employers a ready resource pool to hire from, completely automated onboarding with inbuilt compliance, touchless attendance management, real-time visibility in resource utilization, one-click payroll management and much more. For the workforce, Betterplace offers an employee engagement platform that gives access to a variety of upskilling, financial support and medical benefits program.
Joining the board of the company, Anurag Srivastava, Founding Partner at Jungle Ventures, says, “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”.