Bengaluru-based SaaS platform, BetterPlace, has raised $40 million in a Series C+ funding round. 

The investment round saw the participation of several new and existing investors like Jungle Ventures and British International Investment.

The company will utilise the fresh capital in technological advancements. It will bolster its artificial intelligence (AI) capabilities. 

Founded in 2015, BetterPlace aims to maximise the earning potential of frontline workers and improve the efficiency and productivity of an enterprise by upskilling its frontline workforce and uplifting performance. 

The company stated that it clocked 5X y-o-y (Year-on-Year) growth in the financial year (FY) 2022. It is now eying to achieve an ARR of $100 million in the next financial year. 

Commenting on the recent development, Pravin Agarwala, co-founder and CEO of  BetterPlace Group, said, “The frontline workforce management market in Asia is a $400 billion opportunity.  Our next growth trajectory is all about deepening our offerings and building integrated tech solutions that will empower enterprises and frontline workers alike, to unlock their growth potential.”

Addressing their decision to invest in the company, Amit Anand, founding partner at Jungle Ventures, said “ BetterPlace is set to achieve greater heights and we are all excited to be part of this growth journey. We do not doubt that this company will continue to be at the forefront of innovation in this sector by enabling rapid growth of the economy through formalisation.”