Rocketlane, a rapidly growing SaaS startup, has announced the successful closure of a $24 million Series B funding round. The funding was co-led by prominent venture capital firms 8VC, Matrix Partners India, and Nexus Venture Partners, signaling strong investor confidence in Rocketlane’s innovative approach to project collaboration and customer onboarding.
Founded in 2020 by Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala, Rocketlane provides a unified workspace designed for seamless collaboration with customers during project onboarding. This platform aims to reduce time-to-value for businesses, streamline software implementations, and enhance real-time project visibility.
Rocketlane’s latest funding round follows earlier successes, including an $18 million Series A round in January 2022 and a $3 million seed round in June 2021. The infusion of $24 million will fuel Rocketlane’s AI roadmap, focusing on the development of advanced features to further enhance project delivery capabilities.
In addition to securing new funding, Rocketlane has appointed Rao Adavikolanu as Chief Marketing Officer (CMO). Rao, who previously served as CMO at San Francisco-based Pilot.com, brings valuable experience in scaling marketing initiatives and expanding market presence.
Rocketlane has achieved significant milestones, boasting 500 paying customers worldwide, with the US contributing 30% to the company’s total revenue. The startup has attracted a diverse clientele, including enterprise companies that have transitioned from legacy Professional Services Automation (PSA) tools to Rocketlane’s more agile and intuitive platform.
With a strong foothold in markets across India, the US, and Europe, Rocketlane aims to continue its upward trajectory, building on its reputation as a preferred choice for enterprises seeking efficient and collaborative project onboarding solutions.