Betterplace Unveils Unified Tech Brand goBetter, Commits $35M in R&D

• ByStartupStory     |    October 9, 2023

Frontline workforce management platform Betterplace has launched a unified tech brand called goBetter, consolidating more than eight tech modules into a single platform to facilitate its global expansion endeavors. The Bengaluru-based company has also pledged a $35 million investment for research and development to bolster its technology stack.

Betterplace aims to introduce goBetter, optimized with Generative Artificial Intelligence, as a unified SaaS platform on a global scale. Pravin Agarwala, Co-founder and Group CEO of BetterPlace, stated, “With goBetter, we aim to capture the $300 billion addressable market in India, Southeast Asia, and GCC countries to become the go-to solution for any enterprise which wants to focus on scaling its business while its workforce operations are optimized and automated.”

Betterplace points out that India, Southeast Asia (SEA), and the Gulf Cooperation Council (GCC) countries, which account for 50% of the global workforce, have over 60% of this workforce in informal employment. The company claims that goBetter will assist enterprises in reducing costs by 50% and increasing productivity by 100% through automation and optimization.

Agarwala expressed the company’s goal of managing 10 million frontline workers across SEA and GCC within the next three years, requiring an investment of $80 million in these regions. He also mentioned that the company is looking at acquisitions in specific product areas in India and beyond while doubling down on R&D investment for future growth.

Founded in 2015, Betterplace provides solutions for the entire value chain of frontline workforce management, from verification, discovery, hiring, and onboarding to upskilling, productivity management, and benefits transfer. It currently operates in five countries and serves a network of over 30 million workers.

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In recent months, Betterplace has expanded its presence through partnerships, acquisitions, and collaborations, aiming to enhance the employee experience of frontline workers across the Asia-Pacific region. In December, it raised $40 million as part of its extended Series C round, bringing its total funding to $91 million over eight rounds. In FY22, Betterplace recorded a revenue of Rs 275 crore, marking a 5.5X year-on-year increase. For FY23, the company is targeting 3X revenue growth, EBITDA-level profitability by the end of 2023, and net profitability in 2024.

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