[Funding alert] Blue-collar workforce management platform Betterplace raises $10M in Series B round
Betterplace, a Bengaluru-based tech platform delivering digital solutions for blue-collar workforce management throughout the value chain, on Tuesday announced that it has raised $10 million in a Series B round led by Jungle Ventures.
Existing investors including Unitus Ventures, 3One4 Capital, and Venture Highway also participated in the round.
With the latest round, the company's total funding stands at $16 million since its inception.
The fresh round of funds will be used to deliver 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.
Speaking about the company's growth, Pravin Agarwala, Co-founder and CEO, Betterplace, said,
“The blue-collar ecosystem is undergoing massive digital transformation and the ongoing pandemic has accelerated this adoption. We are onboarding more than 150,000 people digitally every month, and aim to serve 2,000 enterprises and a three million workforce by the end of this financial year.”
Founded in 2015, the tech platform works with more than 1,000 companies in India to meet the aspirations and needs of the blue-collar workforce, with the objective to organise the hiring, management and engagement model, coupled with the vision to improve their livelihood.
Joining the board of the company, Anurag Srivastava, Founding Partner at Jungle Ventures, said,
“The global blue-collar workforce space is expected to be a $455 billion opportunity 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 Southeast Asia”.
Since its inception, Betterplace has helped empower over eight million people and aims to bring 150 million workers into the formal economy by 2025.
Edited by Kanishk Singh