Rocketlane Raises $24 Million in Latest Funding Round to Enhance Client Onboarding Solutions
Rocketlane, a cutting-edge B2B SaaS startup, has successfully raised $24 million (approximately Rs 200 crore) in a funding round led by 8VC, Matrix Partners India, and Nexus Venture Partners. This new capital injection brings Rocketlane’s total funding to an impressive $45 million since its inception.
“We already have a unique breadth and depth to our product that is unmatched. But we see this as an opportunity to go even further, enabling us to automate more upstream and downstream workflows,” said Srikrishnan Ganesan, cofounder and CEO of Rocketlane.
Rocketlane’s Mission to Transform Client Onboarding
Founded in 2020 by Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala, Rocketlane offers a specialized unified workspace designed to enhance collaboration with clients during onboarding projects. The platform helps businesses reduce time-to-value, streamline software implementation processes, and provide real-time visibility.
The founders are seasoned entrepreneurs who previously managed Freshchat at Freshworks following the acquisition of their chat business, Konotor, in 2015. Konotor was the driving force behind chat services for major apps such as Zomato, Swiggy, and BigBasket.
Global Expansion Plans and Impressive Growth
Rocketlane’s growth trajectory has been remarkable, with revenue tripling in 2023 and a customer base expanding to over 500 clients, including prominent Indian SaaS companies like Amagi, Chargebee, Icertis, Verloop, Yellow.ai, WebEngage, and MoEngage. Seventy percent of Rocketlane’s revenue is generated from the US market, with India being its second-largest market. The company is set to expand into Europe, the UK, Australia, and other regions.
“This fiscal, we plan to launch new products and expand our go-to-market strategies to support these innovations. Additionally, we aim to build a global organization to service these products,” added Ganesan.
Investor Confidence and Future Outlook
Bhaskar Ghosh, Partner at 8VC, commented on the investment, stating, “Speed and agility matter when you become the leader in a category like customer onboarding. Rocketlane has achieved precisely that since their Series A, showing themselves to be both visionaries and incredibly hard-nosed executors.”
Jishnu Bhattacharjee, Managing Director at Nexus Ventures Partners, expressed his enthusiasm, “We are thrilled to double down on backing Sri and the team at Rocketlane as they transform the PSA and customer onboarding categories with their industry-leading, AI-powered product and fast-growing list of marquee customers.”
Rocketlane’s latest funding round highlights the growing importance of efficient client onboarding processes in the B2B SaaS industry. With its robust platform and strategic expansion plans, Rocketlane is well-positioned to lead the market in this critical niche.
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