In its Series B funding round, which was co-led by 8VC, Matrix Partners India, and Nexus Venture Partners, SaaS startup Rocketlane has raised $24 million.
In January 2022, Rocketlane secured a $18 million Series A round, and in June 2021, the company secured a $3 million seed round.
According to a press release from the company, the new funding will advance Rocketlane’s AI roadmap, which calls for the development of cutting-edge features and capabilities for project delivery.
Rocketlane has also announced the appointment of Rao Adavikolanu as Chief Marketing Officer (CMO) as part of its growth strategy. Rao’s experience will be crucial in advancing the company’s strategic goals and market presence. He was previously Pilot.com’s CMO in San Francisco.
Developed with a single, purpose-built workspace for customer onboarding project collaboration, Rocketlane was founded in 2020 by Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala. It offers real-time visibility, expedites software implementation, and reduces time to value for businesses.
In 2015, the NASDAQ-listed SaaS company Freshworks acquired FreshChat, an in-app messaging startup that the three had previously founded.
It is found in the US and Europe in addition to India. As of right now, Rocketlane has 500 paying clients worldwide, with the US accounting for 30% of sales.
According to Rocketlane, it has more than 500 customers and tripled its revenue in the past year. Enterprise businesses that were using outdated Professional Services Automation (PSA) tools have migrated to Rocketlane. Chargebee, Pando, ParcelLab, Yellow.ai, LinkSquares, Appcues, and Netcore are among the clients of the business.
