Rocketlane, a B2B SaaS platform for client project delivery, on Tuesday announced that it has raised $24 million in its Series B funding round co-led by 8VC, Matrix Partners India, and Nexus Venture Partners.
The new funding will help accelerate Rocketlane’s AI road map, enabling the development of advanced features and capabilities that enhance client project delivery, it said in a statement.
As part of its growth strategy, Rocketlane also announced the appointment of Rao Adavikolanu as chief marketing officer (CMO), who is responsible for driving the company’s market presence and strategic initiatives.
The latest infusion brings the company’s total funding to $45 million. The company had last raised $18 million in its Series A funding round led by Asana investor, 8VC, with additional funding coming from Nexus Venture Partners, Matrix Partners India, and prominent angel investor Gokul Rajaram.
“We are thrilled to have the support of our investors as we continue to grow and innovate in the client project delivery space. The team is excited about our upcoming innovations–especially the very unique AI capabilities and the first-of-its-kind dynamic client portal in this space–that will expand the gap between Rocketlane and the competition,” said Srikrishnan Ganesan, CEO & Co-founder, Rocketlane.
Founded in 2020 by Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala, Rocketlane is a professional services automation and client onboarding platform that helps businesses deliver predictable outcomes, accelerate time-to-value, and improve team utilisation and project profitability. The platform also claims to improve communication, collaboration, and project visibility for businesses and their clients.
Rocketlane claims to have tripled its revenue over the past year, reaching over 500 customers in 2023. The company’s customers include Chargebee, Pando, ParcelLab, Yellow.ai, LinkSquares, Appcues, and Netcore.