The frontline workforce management startup BetterPlace has raised $40 million funding in an ongoing Series C funding round. Jungle Ventures, British International Investment and others participated in the funding round.
BetterPlace plans to use this fresh fund towards technology enhancements and to reinforce AI capabilities of the firm. Talking about the funding round, Pravin Agarwala, Co-founder and Group CEO, BetterPlace said, “The frontline workforce management market in Asia is a $400-billion opportunity and we are the only full-suite horizontal SaaS for enterprises and a platform catering to this segment in the region. Our next growth trajectory is all about deepening our offerings and building integrated technology solutions that will empower enterprises and frontline workers alike, to unlock their growth potential.”
The company recorded a revenue of INR 275 crore in FY22, which was five fold revenue growth on a year on year basis. It further aims to achieve an annualized revenue of $100 million in FY 2023.
BetterPlace is currently working with over 1100 companies. Since the last year, it has acquired OkayGo, Waah Jobs, Olx People and and Oust Labs.