Workforce management platform BetterPlace has announced the acquisition of California-based micro-learning SaaS platform Oust Labs in an all-cash deal. It, however, did not disclose the financials.
The announcement comes nearly three weeks after the Bengaluru-based startup raised $24 million in Series C funding from multiple investors, like CX Partners, Jungle Ventures, CDC Group, Capria Ventures and 3One4 Capital, among others.According to company’s press release, BetterPlace will use Oust Labs’ expertise to digitally upskill about 100 million workers.
“Upskilling and engaging with the workforce is key to every organisation’s productivity and customer experience. We are thrilled to welcome Oust as part of the BetterPlace family and help organisations and employees achieve efficiency and excellence. We will make it available to 1,000+ of our enterprise customers and their massive distributed workforce,” said Pravin Agarwala, CEO, Co-Founder, BetterPlace.
With this acquisition, BetterPlace said it will enhance its end-to-end workforce management offerings to enterprise businesses. The multi-lingual authoring tool of Oust Labs allows enterprises to create their own custom content in more than 35 languages. In 2021, the Oust platform has been used to skill over 1 million users across India and South East Asia, and aims to upskill 20 million users in the next 24 months.
“Over the last 5+ years, we have built a world class platform that is used by some of the largest distributed workforce companies in India and SE Asia,” said Shrikant Latkar, Founder and CEO, Oust Labs.
As per recent market research, only 3 per cent of the blue-collar working population is formally educated and the rest learn on the job. 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. To date, Betterplace has helped empower over 81 lakh people and aims to bring 15 crore workers into the formal economy.