BetterPlace Allocates $35 Mn In R&D


Betterplace, a workforce management platform, has launched a unified brand called goBetter. The company have integrated multiple tech modules into a single platform to support their global expansion efforts.

The company has also committed to invested USD 35 million in research and development to enhance their technology. Betterplace aims to introduce goBetter as a unified software-as-a-service (SaaS) platform globally.

The startup claims that it can help businesses reduce costs by 50 per cent and boost productivity by 100 per cent through automation and optimisation. Betterplace serves the entire frontline workforce management value chain, providing services such as verification, hiring, training and benefits management.
It currently operate in five countries and cater to over 30 million workers.

Betterplace has been actively expanding its presence and forming partnerships with companies like AMY TECH DMCC in the GCC region and EvomatiQ Business Solutions in the UAE. The company have also made strategic acquisitions in Malaysia and Indonesia to strengthen its position in those markets.

In terms of funding, the company has raised a total of USD 91 million across eight rounds. In the fiscal year 2022, Betterplace achieved a revenue of Rs 275 crore, marking a 5.5x increase compared to the previous year. The comapny aims for a 3x revenue growth in fiscal year 2023 and expect to achieve EBITDA-level profitability by the end of 2023 and overall net profitability in 2024.

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