Chennai, NFAPost: Tech platform delivering digital solutions for blue collar workforce management throughout the entire value chain, Betterplace, has raised $10 million in a Series B round led by Jungle Ventures and a total of $16 million since its inception. Existing investors, Unitus Ventures, 3One4 Capital, and Venture Highway also participated in the round.
Launched in 2015, Betterplace addresses the $30 billion India opportunity of blue-collar workforce management, impacting over 450 million people. Through its data-driven, tech platform, Betterplace uniquely fulfills the requirements of both enterprises and the workforce in this fragmented and underserved ecosystem.
For enterprises, it offers a seamless 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 utilisation, one-click payroll management and much more.
For the workforce, Betterplace offers a rich employee engagement platform that gives access to a variety of upskilling, financial support and medical benefits program. Betterplace has partnerned with enterprises such as Amazon, Zomato, Flipkart, Accenture, L&T, Mahindra Logistics, and over 2 million blue-collar workforce annually.
With this fundraise, the company will continue 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.
Jungle Ventures Founding Partner Anurag Srivastava said, “The global blue collar workforce space is expected to be $455 billion 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”.
Founded in 2015, Betterplace 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, managing and engaging model coupled with the vision to improve their livelihood. Betterplace customers are present across blue collar heavy industries such as Private Security, Logistics, Facility Management, IT/ITES, On-Demand Services, Retail, Construction and more.
Betterplace has helped empower over 8 million people and aims to bring 150 million workers into the formal economy by 2025.