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BetterPlace, a workforce management platform, is raising Rs 31.9 crore ($3.8 million) in its Series D funding round from Jungle Ventures and Capria Ventures.
The startup plans to issue 10,574 Series D preference shares at Rs 30,174 each, according to regulatory filings. Jungle Ventures will invest Rs 20.69 Cr for 6,859 shares, while Capria Ventures will contribute Rs 11.2 Cr for 3,715 shares.
According to regulatory fillings, the funds will be used for general business operations.
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In August 2022, BetterPlace raised $12 million (INR 96 Cr) funding from Jungle Ventures.
About BetterPlace
Founded in 2015 by Pravin Agarwala and Uday Singh, the Bengaluru-based BetterPlace began as a KYC verification company but later expanded to offer employee lifecycle management services, including onboarding, background checks, training, certification, attendance tracking and upskilling.
The company works with 1,500 businesses across APAC, India and the GCC.
It claims to have processed $1.5 billion in payroll, delivered 300 million minutes of training and completed background checks for over 20 million individuals.
BetterPlace has acquired eight companies, including Oust Labs, AasaanJobs, OLX People, Waah Jobs, OkayGo, EzeDox, Troopers, and MyRobin. It competes with platforms like Apna, GigIndia, and WorkIndia.
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