Technology platform for blue-collar workforce management BetterPlace on Monday said it has raised USD 24 million (around Rs 176 crore) in Series-C funding led by Delhi-based CX Partners and Singapore-based Jungle Ventures to invest in technologies and products to support its growth. This round of funding comes after the firm raised a Series-B of USD 10 million in late 2020, BetterPlace said in a statement.
CDC Group and Capria Ventures have also participated in this round alongside existing investors Unitus Ventures and 3one4 Capital. The company will use the fresh funds to continue to invest in technologies and products to support its growth as well as to pursue inorganic growth opportunities. “We are here to unleash the power of tech to empower millions of workers and the enterprises that hire them.
We will continue to build teams, tech, and expand geographically, and it only gets more and more exciting and fulfilling for us to be able to support the drive towards prosperity and inclusion for the blue-collar workforce,” BetterPlace co-founder and CEO Pravin Agarwala said. With the current round, BetterPlace will continue investing in tech to cater to the growing demand while acquiring niche solutions and leveraging its leadership position for faster adoption of new modules. BetterPlace aims to reach USD 100 million in revenue and impact the lives of more than 10 million people every day by December 2022, Agarwala added.