BetterPlace, a Bangalore, India-based Software as a Service (SaaS) platform for frontline workforce management, raised $40 million in extended Series C funding.
The round supported by new investors, including Macquarie Capital and SITE Capital Partners, and existing investors, including Jungle Ventures and British International Investment.
The funds will be utilized for tech enhancements as well as for strengthening artificial intelligence capabilities. This will enable BetterPlace to serve its customers better as well as expand to other geographies as well.
BetterPlace’s co-founder and CEO, Pravin Agarwala, said that they are catering to a segment that provides a $400 billion opportunity in the Asian market. “Our next growth trajectory is all about deepening our offerings and building integrated tech solutions that will empower enterprises and frontline workers alike, to unlock their growth potential,” he said.
Company: Betterplace Safety Solutions Private Limited
Raised: $40.0M
Round: Series C+
Funding Month: December 2022
Lead Investors:
Additional Investors: Macquarie Capital, SITE Capital, Jungle Ventures, and British International Investment
Company Website: https://www.betterplace.co.in/
Software Category: Frontline Workforce Management Solutions
About the Company: Founded in 2015 by Agarwala and Uday Singh as a verification management platform, the company is gradually evolving to become a provider of frontline workforce management solutions. BetterPlace is a technology platform delivering digital solutions for blue-collar workforce management throughout the entire value chain. BetterPlace provides KYC-based digital employee onboarding services, including digitizing employee records, background verification services, skill development training and assessment, and attendance management services, among others. The company has provided full-stack workforce management solutions to more than 1,000 enterprises, including Amazon, Ola, Uber, Swiggy, Zomato, et al., and currently serves over 100 locations.
Source: https://www.businesstoday.in/entrepreneurship/story/saas-start-up-betterplace-raises-40-mn-aims-to-touch-arr-of-100-mn-in-fy23-357123-2022-12-20