BetterPlace targets Ebitda profitability by Sep next year

[ad_1]

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.

Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.

More
Less

[ad_2]

Source link