Rocketlane, a leading workflow automation platform, announced today a $24 million Series B funding round to expand its AI-powered post-sales CRM solutions for professional services teams.
The round was co-led by 8VC, Matrix Partners India, and Nexus Venture Partners, bringing the company’s total funding to $45 million.
Rocketlane addresses the challenges faced by professional services teams who are often burdened with disparate tools and legacy systems. The platform integrates project management, AI capabilities, and client communication to simplify operations, reduce inefficiencies, and enhance project visibility.
Over the past year, Rocketlane has tripled its revenue and grown its customer base to over 500, including enterprises transitioning from legacy Professional Services Automation (PSA) tools. Notable customers include OpenGov, LivePerson, Fivetran, Personio, and Zenoti.
Srikrishnan Ganesan, CEO & Co-founder of Rocketlane, stated, “Our unique combination of high-velocity innovation and robust capabilities sets us apart. This new investment will accelerate our AI roadmap and redefine the client portal experience. We are well-equipped to handle rapid growth and continue delivering exceptional value to our clients.”
Rocketlane’s AI-driven platform helps SaaS providers, especially those in the AI sector, accelerate onboarding, shorten time-to-value, and boost net revenue retention. Recent AI functionality enhancements are part of the company’s strategy to maintain its competitive edge.
Rocketlane’s success is reflected in its recognition as the G2 Momentum Leader in the PSA category for three consecutive quarters and its achievement of 199 G2 badges in the Spring 2024 report.
Founded in April 2020 by Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala, Rocketlane was born out of the founders’ experiences with their previous startup, FreshChat, which was acquired by Freshworks in 2015.
Bhaskar Ghosh, Partner at 8VC, commended Rocketlane, saying, “Rocketlane has replaced legacy PSA approaches with elegant software and rapid deployment. We are thrilled to continue supporting this visionary team.”
Jishnu Bhattacharjee of Nexus Ventures Partners and Vikram Vaidyanathan of Matrix India also expressed their support, highlighting Rocketlane’s industry-leading AI-powered product and rapid market adoption.
Rocketlane’s growth strategy includes the appointment of Rao Adavikolanu as Chief Marketing Officer to enhance market presence and strategic initiatives. Looking forward, the company is focused on attracting top talent and executing its AI-first roadmap to transform onboarding and project deliveries.
Siva Rajamani, CEO of Everstage, noted the impact of Rocketlane, “We have accelerated customer wins by 35% and strengthened partnerships from the start of the journey. Rocketlane elevates our customer experience with strong automation and consistency.”
Rocketlane continues to be the go-to choice for professional services firms seeking to optimize project delivery and utilization margins.
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