Betterplace, a Bengaluru-based tech platform delivering digital solutions for blue-collar workforce management throughout the value chain, announced that it has raised $10 million in a Series B funding round led by Jungle Ventures.
Existing investors that participated in the funding round are Unitus Ventures, 3One4 Capital, and Venture Highway. Post this funding, the company is valued at $16 million.
The company will use the fresh funding to deliver innovative products, build its presence in new business verticals, expand its footprint in the SME sector, and grow internationally.
Founded in 2015 by Pravin Agarwala and Uday Singh, Betterplace claims to have catered to around 15 Million employees & 1000+ customers, who are market leaders in many segments, like Logistics, IFM, security, schools, on-demand etc. The company’s vision is to become the platform for the blue-collar ecosystem, including individuals, companies, skilling ecosystem, & government.
Speaking about the startup, 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.”
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”.
–AN
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