Rocketlane Raises $24M in Series B Funding

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Rocketlane, a San Mateo, CA-based provider of Professional Services Automation (PSA) and client onboarding platform, announced it has raised $24 million in a Series B funding round. This round brings the total funding raised by Rocketlane to $45 million. The investment was co-led by 8VC, Matrix Partners India, and Nexus Venture Partners.

Purpose and Platform

Rocketlane was founded in April 2020 by Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala. The platform is designed to help businesses deliver predictable outcomes, accelerate time-to-value, and improve team utilization and project profitability. Rocketlane provides a comprehensive workspace that enhances communication, collaboration, and project visibility for businesses and their clients. The platform also offers insights into trends and benchmarks across projects, enabling teams to develop and optimize their playbooks and processes effectively.

Growth and Customer Base

Over the past year, Rocketlane has experienced significant growth, tripling its revenue and reaching over 500 customers. Notable enterprise customers that have adopted Rocketlane, transitioning from legacy PSA tools, include OpenGov, LivePerson, Fivetran, Personio, and Zenoti, among others.

Future Plans

The newly secured funds will be utilized to expand Rocketlane’s operations and further develop its platform. The company aims to continue enhancing its product offerings and support a growing customer base with improved features and capabilities.

Statement from the Founders

Rocketlane’s founders emphasized the platform’s unique value proposition in transforming client onboarding and project management processes. They expressed enthusiasm about the support from their investors and their commitment to driving further innovation and growth in the PSA space.

With this fresh capital, Rocketlane is well-positioned to solidify its market presence and continue its trajectory of rapid growth, offering cutting-edge solutions to businesses seeking to optimize their professional services and client onboarding processes.

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