[Funding] Betterplace raises $10m in Series B funding from Singapore based Jungle Ventures

Betterplace is one of India's digital solutions provider for blue-collar workforce management. The startup has raised $10 million in a Series B round led by Jungle Ventures. This has taken the total to $16 million since its inception. Existing investors, Unitus Ventures, 3One4 Capital, and Venture Highway also participated in the round.

With this fundraise, the company will continue to deliver innovative products. It will also build its presence in new business verticals. Further, it will 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 Mn blue-collar workforce with the growing hiring needs of enterprises.

About Betterplace

Betterplace addresses the $30 Bn India opportunity of blue-collar workforce management; impacting over 450 Mn people. Through its data-driven, tech platform, Betterplace fulfils the requirements of both enterprises and the workforce in this fragmented and under-served ecosystem.

For enterprises, it offers a seamless end-to-end workforce management system. It has inbuilt proprietary digital tools and services which provide employers, a ready resource pool to hire from. Further, it has a 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 a rich employee engagement platform. Thus, it 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. 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”.

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.”