BetterPlace has raised $24 million in Series C funding led by Delhi-based CX Partners and Singapore-based Jungle Ventures. CDC Group and Capria Ventures have also participated in this round alongside existing investors Unitus Ventures and 3one4 Capital. As per the official statement, the company plans to use the fresh funds to invest in technologies and products to support its exponential growth as well as aggressively pursue inorganic growth opportunities.
This funding comes after the technology platform for blue-collar workforce management, which had raised a Series B funding of $10 million in late 2020.
For the blue-collar workforce, the company has recently launched a mobile app that will not only help them find relevant jobs that match their skills and locations but also help address their skilling requirements on-demand.
Pravin Agarwala, Co-Founder and CEO, BetterPlace, said, “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."
With the current funding secured, BetterPlace will continue to look to invest in technology to cater to the growing demand while acquiring niche solutions and leveraging its leadership position for faster adoption of new modules.
“The blue-collar workforce plays a vital role in India’s economy and future growth. Betterplace has created a transparent, seamless, and globally scalable platform to solve the prevailing inefficiencies in the blue-collar ecosystem. We are incredibly excited to continue to partner with the team, reflecting our commitment to providing long-term capital and value-added support for our founders,” shared Anurag Srivastava, Founding Partner, Jungle Ventures.
With multiple funding secured, it would be interesting to see how the tech company contributes to expanding the horizons for the blue-collar workforce in a time of dearth of jobs and ‘the great resignation’.