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Blue-collar workforce management firm BetterPlace Safety Solutions Pvt. Ltd aims to turn Ebitda (earnings before interest, taxes, depreciation, and amortization) profitable by September 2023, a senior executive said.

The Bengaluru-based startup, which counts Jungle Ventures, Unitus Ventures, 3One4 Capital and Venture Highway among its investors, is also preparing for its first overseas acquisition of a company each in Indonesia and Malaysia by the end of March.

“From a gross margin point of view, we are profitable at CM1 and 2 (contribution margin) levels," said Pravin Agarwala, co-founder and chief executive at BetterPlace.

Founded in 2015 by Agarwala and Uday Singh, its software-as-a-service (SaaS) platform helps firms manage the entire life cycle of their blue-collar workforce by providing them services such as hiring, background verification and digital onboarding of the worker. It also offers training, attendance management, payroll services and compliance services. BetterPlace has allocated up to $50 million for fresh deals. It has so far made four acquisitions, EzeDox, OkayGo, OLX People & Waah Jobs and Oust Labs.

“When we look at our M&A strategy, we focus on three aspects overall--product enhancement, geographical expansion and customer expansion," Agarwala said.

ABOUT THE AUTHOR

Shubhobrota Dev Roy

Shubhobrota Dev Roy is a copy editor with Mint. He hails from a small town called Silchar in Cachar district of Southern Assam. He graduated with a bachelors degree in the humanities from Gurucharan College. He also has a masters degree in Mass Communication from Guru Jambeshwar University in Haryana. He loves playing cricket, reading horror stories, binge watching shows and exploring new restaurants.
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