BetterPlace raises $40 million in extended series C round

SaaS platform for frontline workforce management BetterPlace Global has raised $40 million in an extended Series C round. 

Besides existing investors Jungle Ventures and British International Investment, two new investors Macquarie Capital and SITE Capital Partners also participated in the round.

The funds will be used to expand geographical representation and to support client organisations with efficiency, productivity, and governance.

“Excited to announce that we raised $40 million in our ongoing Series-C round. Supported by our existing and new investors, this is a huge sign of confidence in our ability to solve major challenges in the frontline workforce ecosystem,” reads a Facebook post by BetterPlace.

“We will be investing a large part of the money in enhancing products largely to support client organisations with efficiency, productivity, and governance and are working on products localised for geographies like Indonesia, Malaysia, GCC (Gulf Cooperation Council), and other countries,” BetterPlace Global CEO Pravin Agarwala told Moneycontrol.

“The funds were raised in a convertible round,” Agarwala said.