The Series B funding, co-led by 8VC, Matrix Partners India, and Nexus Venture Partners, will be used to introduce conversational AI and AI templates for emails and documents. Rocketlane also plans to upgrade its customer portal and expand its presence in the U.S. and Europe. The startup currently has 500 paying customers globally, with 30% of its revenue coming from the U.S. To date, Rocketlane has raised $45 million, with its valuation growing around 2x since the last round.
Key takeaways:
- Rocketlane, a SaaS startup, has raised $24 million in a new investment round to enhance its professional services automation (PSA) platform.
- The startup plans to introduce conversational AI to help professional services teams understand customer feedback and AI templates for emails and documents used by the teams.
- Rocketlane is targeting expansion in the U.S. and Europe, with plans to hire more leadership and sales positions in the U.S. and host a one-day event in Europe in September.
- The startup has raised a total of $45 million to date, with its valuation growing around 2x since the last round and a reported 3.1x growth in revenues in 2023.