BetterPlace acquires microlearning platform Oust Labs
BetterPlace, technology platform for blue and grey collar workforce management, has announced the acquisition of Oust Labs – a micro-learning SaaS platform tailor made for upskilling and training distributed workforces in an all cash deal.
This development comes weeks after BetterPlace’s recent Series C fundraise of $24 million which saw participation from multiple investors like CX Partners, Jungle Ventures, CDC Group, Capria Ventures, 3One4 Capital among others.
Headquartered in Cupertino, California, Oust Labs has built a proprietary methodology of delivering learning outcomes through its mobile-first gamified application. Large enterprises across logistics, gig-economy, banking and financial services and many more industry verticals have been able to increase revenue per employee, create cohorts of top performing workers or improve compliance by using Oust Labs applications. The multilingual authoring tool of Oust Labs allows enterprises to create their own custom content in 35+ languages, ensuring better internalization and engagement for their distributed workforce.
In 2021 alone, the Oust platform has been used to skill over 1 million users across India & South East Asia and aims to upskill 20 million users in the next 24 months.
Pravin Agarwala, CEO, Co-Founder, BetterPlace, said, ”Upskilling & engaging with the workforce is key to every organization's productivity and customer experience. We are thrilled to welcome Oust as part of the BetterPlace family and help organizations and employees achieve efficiency and excellence. We will make it available to 1000+ of our enterprise customers and their massive distributed workforce.”
Organizations employing blue and grey collar workforce are increasingly seeking digital skilling and training solutions to augment worker productivity by engaging and upskilling their workforce. With this acquisition, BetterPlace takes another big step towards enhancing its end-to-end workforce management offerings to enterprise businesses.
Shrikant Latkar, Founder and CEO, Oust Labs, said, “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. We have helped companies to rapidly upskill their workforce and deliver a fantastic customer experience, making it a must have platform for the millennials. We are proud to have pioneered just-in-time learning on mobile devices. Our vision at Oust has always been to help every worker thrive in the new economy. We are super excited to be part of the larger family of BetterPlace, as this enables our vision of skilling 10 million people every year a reality. ‘Seekhega India, toh Badhega India’.
As per market research only 3% of the blue-collar working population is formally educated and the rest learn on the job. There is a clear need to train & upskill millions of workers for meeting their aspirations, building a career path with eventual realization into higher earnings. It is this opportunity that BetterPlace aims to leverage this opportunity through this acquisition.