SaaS startup Rocketlane has successfully raised $24 million in its Series B funding round, with significant contributions from leading venture capital firms 8VC, Matrix Partners India, and Nexus Venture Partners.
In January 2022, Rocketlane garnered $18 million in its Series A round, following an initial $3 million seed round in June 2021. The latest funding will fuel the company’s AI roadmap, enabling the development of advanced features and capabilities for project delivery, as detailed in a company press release.
To bolster its growth strategy, Rocketlane has appointed Rao Adavikolanu as Chief Marketing Officer (CMO). Adavikolanu, formerly the CMO of San Francisco-based Pilot.com, brings a wealth of experience that will be pivotal in enhancing Rocketlane’s market presence and strategic initiatives.
Founded in 2020 by Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala, Rocketlane provides a unified workspace designed for collaborating with customers on onboarding projects. The platform helps businesses accelerate their time-to-value, streamline software implementation, and offer real-time visibility.
The founding team previously created FreshChat, an in-app messaging startup acquired by NASDAQ-listed SaaS company Freshworks in 2015.
Rocketlane operates in India, the US, and Europe, with 500 paying customers worldwide. Notably, the US market contributes 30% to the company’s total revenue. Over the past year, Rocketlane has tripled its revenue and expanded its customer base to over 500 clients, including enterprise companies transitioning from legacy Professional Services Automation (PSA) tools. Prominent customers include Chargebee, Pando, ParcelLab, Yellow.ai, LinkSquares, Appcues, and Netcore.
