Jungle Ventures leads $10m funding in Indian startup Betterplace

[L to R] Betteplace co-founders Saurabh Tandon and Pravin Agarwala

Bengaluru-based Betterplace, a tech platform for blue-collar workforce management, has raised $10 million in a Series B funding round led by Singapore-based Jungle Ventures as it looks to expand operations in India and Southeast Asia.

Existing investors Unitus Ventures, 3One4 Capital, and Venture Highway also participated in the round, per a statement. As part of the deal, Anurag Srivastava, founding partner at Jungle Ventures, has joined the startup’s board.

With the latest round, the startup’s total funding stands at $16 million.

Betterplace will use the funds to deliver innovative products, build its presence in new business verticals, expand its footprint in the SME sector, and grow internationally. It will also scale its Hire-Engage-Manage digital solutions, which connect over 150 million blue-collar workers.

“The blue-collar workforce space is expected to be a $455 billion opportunity globally by 2023 and we are very excited to partner with Betterplace on this journey with them. We look forward to working with the team and helping them to expand in India and Southeast Asia,” Srivastava said.

Launched in 2015, Betterplace claims to address the $30 billion India opportunity of blue-collar workforce management, impacting over 450 million people. Through its data-driven tech platform, Betterplace fulfils the requirements of both enterprises and the workforce in this fragmented and underserved ecosystem.

“The blue-collar ecosystem is undergoing massive digital transformation and the ongoing pandemic has accelerated this adoption. We are onboarding more than 150k people digitally every month and aim to serve 2000 enterprises and a 3 million workforce by the end of this financial year,” Pravin Agarwala, co-founder CEO, Betterplace, said.

For enterprises, the company offers an end-to-end workforce management system with its inbuilt proprietary digital tools and services which provide employers a ready resource pool to hire from, completely automated onboarding with inbuilt compliance, touchless attendance management, and more. For the workforce, the startup offers an employee engagement platform that gives access to a variety of upskilling, financial support, and medical benefits programme.

Betterplace counts enterprises such as Amazon, Zomato, Flipkart, Accenture, L&T, Mahindra Logistics, among its clients. It also claims to have also partnered with over 2 million blue-collar workforce.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.