NEW DELHI: HRtech software-as-a-service (SaaS) platform BetterPlace on Tuesday said it has raised $40 million as part of Series C+ fundraise from several new investors as well as existing investors Jungle Ventures and British International Investment.

The platform said it clocked a five times growth in FY22 on an annual basis, and is eyeing an annual recurring revenue exceeding $100 million in FY23.

“The frontline workforce management market in Asia is a $400 billion opportunity and we are the only full-suite horizontal SaaS for enterprises and a platform catering to this segment in the region,” said Pravin Agarwala, co-founder and group CEO, BetterPlace.

Over 1,100 large enterprises currently use the cloud-based SaaS and its microservices architecture to manage over four million frontline workers monthly.

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