Betterplace, a workforce management platform, recently acquired a significant stake in MyRobin, a blue-collar workforce fulfillment platform in Indonesia, through a combination of cash and stock. The details of the deal, including its value, have not been disclosed. However, according to Betterplace’s CEO, Pravin Agarwala, it is one of the company’s largest transactions to date and one of the biggest deals in Indonesia made by a startup. This acquisition represents Betterplace’s entry into the Southeast Asian market. MyRobin, which was founded in Indonesia in 2020, provides companies with pre-screened, on-demand blue-collar workers and offers services such as recruitment, documentation, attendance, performance monitoring, and worker payments through its platform. Additionally, it provides workers with access to an online job portal, financial services, and training. With this acquisition, Betterplace’s team will expand to over 1,000 employees and plans to hire more workers in India, Indonesia, Malaysia, Thailand, and Singapore.
Betterplace’s goal is to expand into Indonesia, Malaysia, Thailand, the Philippines, and Singapore, where it has established a Global Center for Southeast Asia, according to Pravin. He also noted that the Middle East, including the UAE, Abu Dhabi, and Dubai, and the entire Gulf Cooperation Council, presents a great opportunity for the company’s growth. Pravin stated that MyRobin brings a valuable mix of team, customers, and technology to the table, and the company plans to take the product, MyRobin Mitra, into other regions. Betterplace is also looking at potential acquisitions in certain product areas both in India and abroad, as well as increasing its investment in R&D for future growth.
Last December, Bengaluru-based firm Betterplace secured $40 million in its Series C financing round, which included investors such as Macquarie Capital, Jungle Ventures, Unitus, and BII. Furthermore, the company has raised over 65 million dollars in the past year alone, making them well-funded. Pravin mentioned that they are open to collaborations that can help them grow, but they have sufficient capital. Despite the impact of layoffs and hiring slowdowns across various industries, Pravin highlighted the thriving blue-collar economy, and that there is a strong possibility of an even bigger gig economy in the coming years. Currently, 1.2 to 1.3 crore people are involved in such jobs and it is expected to reach 9 crore by 2030. Established in 2015, Betterplace caters to the entire value chain of frontline workforce management and boasts over 30 million workers on its platform, serving over 1,100 companies.
