BetterPlace runs a technology platform for blue-collar workforce management and had last raised some $10 million in series B funding in late 2020.
BetterPlace has raised a fresh $24 million in funding, jointly led by Delhi-based CX Partners and Singapore-based Jungle Ventures. The investment, part of the company’s series C financial round, has also been backed by CDC Group, Capria Ventures and existing investors Unitus Ventures and 3one4 Capital.
The company will use the fresh capital to accelerate its investments in technology, products and pursue inorganic growth opportunities, it said in a statement on Monday. BetterPlace runs a technology platform for blue-collar workforce management and had last raised some $10 million in series B funding in late 2020.
Founded in 2015, the Bengaluru-based company today provides full-stack workforce management solutions to more than 1,000 enterprises and offers them the flexibility to hire and manage employees virtually. The firm counts Ola, Flipkart, Accenture and Amazon as its clients, among others.
BetterPlace claims to complete over 200,000 monthly onboardings. The start-up also recently launched a mobile app for the blue-collar workforce that will help them find relevant jobs matching their skills and locations, besides addressing their skilling requirements on-demand.
The company is eyeing $100 million in revenues by December 2022. “We will continue to build teams, tech, and expand geographically, and it only gets more and more exciting and fulfilling for us to be able to support the drive towards prosperity and inclusion for the blue-collar workforce,” said co-founder & CEO Pravin Agarwala.