This is the second acquisition announcement from BetterPlace this month after they acquired Oust Labs
BetterPlace has announced the strategic acquisition of OLX People and Waah Jobs to strengthen its portfolio of workforce management solutions and become one of the largest providers of solutions in the blue and grey collar gig staffing ecosystem. On a mission to support the 400mn+ blue & grey collar workforce in India to find their way back to employment after a tough pandemic period, BetterPlace can now offer employers a full range of technology-enabled solutions. This is the second acquisition announcement from BetterPlace this month after they acquired Oust Labs, a mobile-first micro learning platform tailor-made for upskilling and training distributed workforces.
Post acquisition, the new joint entity will use proprietary technology that will empower organizations to manage the complete lifecycle of their blue-collar workforce from a single platform that includes hassle-free hiring of new employees, temporary workforce expansion, and managing large worker setups across its clients. Blue & Grey collar users on the integrated platform will be able to receive a spectrum of services which includes salary credit updates, benefits summary, access to financial services, medical advice and can also upskill themselves through various vernacular training modules.
“The blue-collar ecosystem is undergoing massive digital transformation, and the ongoing pandemic has accelerated this adoption. We are onboarding more than 200,000 people digitally every month and aim to serve 2,000 enterprises and over 3 million workforces by the end of this financial year,” said Pravin Agarwala, CEO, Co-Founder, BetterPlace. “By joining forces with OLX People, we will strengthen our portfolio of end-to-end workforce management services and build an employment exchange that can offer employers truly digital and flexible staffing solutions.”
Tarun Sinha, CEO of OLX People & Waah Jobs, commented, “The blue-collar workforce mission is one of the most important challenges India faces. I am extremely proud that the 400+ OLX People & Waah Jobs team now joins a broader family of believers in technology as the key to improve the daily lives of millions of workers across India. Over the last few years, we have been able to build scalable employee management solutions for some of the country’s leading employers. Together with BetterPlace, we will continue to improve the service for more than 2000 enterprises and help them hire and manage their workforce.”
In parallel to the OLX People & Waah Jobs acquisition, BetterPlace has recently raised $24 million in Series-C funding led by multiple investors like CX Partners, Jungle Ventures, CDC Group, Capria Ventures, 3One4 Capital among others, to keep solving for the prevailing inefficiencies in the blue-collar ecosystem and invest further to grow its tech and talent capabilities.
OLX was advised in the transaction by Deloitte as Investment Banking Advisor.
Source: Business World
