Rishen Kapoor, co-founder and CEO of SaaS startup Toplyne, has returned to Peak XV Partners (formerly Sequoia Capital India & Southeast Asia) following the closure of his three-and-a-half-year-old venture. In October 2024, Toplyne ceased operations and returned funds to its investors, marking the end of an ambitious journey in the SaaS space.
“Building Toplyne was rewarding but challenging. We worked with amazing customers and teammates but ultimately decided to wind down the business. The lessons from that journey will stay with me,” Kapoor shared in a reflective LinkedIn post.
Toplyne: A Platform with a Purpose
Founded by Kapoor, Ruchin Kulkarni, and Rohit Khanna, Toplyne aimed to empower sales teams at product-led growth companies by converting free users into paying customers. The platform delivered actionable insights seamlessly integrated into products, enabling businesses to optimize lead conversion rates.
Despite its innovative approach, the startup faced challenges that led to its eventual closure. “It’s never easy to wind down something you’ve poured your heart into, but the experience was invaluable,” Kapoor remarked.
A Well-Backed Venture
Toplyne raised over $17 million from an impressive roster of investors, including Peak XV Partners, Tiger Global, Surge, Together Fund, and angel investors such as Kunal Shah and Harshil Mathur. The startup’s ability to attract high-profile backers highlighted its potential and the strength of its founding team.
A New Chapter at Peak XV
Kapoor’s return to Peak XV Partners marks a full-circle moment. His experience as a founder, coupled with the insights gained from building and scaling Toplyne, will undoubtedly bring a unique perspective to his role at the venture capital firm. As Kapoor embarks on this new phase, he carries forward the lessons of resilience and innovation from his entrepreneurial journey.
