Blue-collar workforce management firm BetterPlace has acquired Indonesia-based company MyRobin, marking its foray into the South East Asia market.
The deal comes nearly two months after Bengaluru-based BetterPlace had raised $40 million in its extended Series C round from Macquarie Capital, Site Capital Partners, Jungle Ventures and British International Investment.
MyRobin’s acquisition will help BetterPlace to tap the workforce management market in South-East Asia, which it considers to be as large as $280 billion, the company said in a statement. However, the startup did not disclose the size of the deal.
Started in 2020, MyRobin offers frontline workers on a long and short-term basis to enterprises in Indonesia. It claims to have a community of more than 3 million workers.
The company also provides attendance and performance management services, embedded financial services like early wage and discounts on daily needs and has its own frontline workforce upskilling platform called MyRobin Academy. It counts enterprises such as Shopee, Astro, Sicepat, E-Fishery, and Kopi Kenangan, among others, as its clients.
Founded in 2015 by Agarwala and Uday Singh, BetterPlace offers a software-as-a-service (SaaS) platform. The platform helps its clients in handling the entire lifecycle of their blue-collar workforce by providing them with hiring, background verification and digital onboarding services. The platform also provides training, attendance management, payroll services, and compliance services.
BetterPlace claims that it reported a five-fold growth in revenue to Rs 275 crore in FY22. The company is also targeting to achieve a three-fold growth in revenue in FY23.
Source @Entrackr
