In its latest funding round, SaaS startup Rocketlane has secured $24 million in Series B funding. The funding round was co-led by 8VC, Matrix Partners India, and Nexus Venture Partners. Previously, in January 2022, Rocketlane raised $18 million in its Series A round, and in June 2021, the company received $3 million in seed funding.

Rocketlane announced in a press release that the recently acquired funding will propel the advancement of their AI roadmap. This strategic investment will enable the development of cutting-edge features and enhanced capabilities for efficient project delivery.

Rocketlane has recently appointed Rao Adavikolanu as their new Chief Marketing Officer (CMO) as part of their expansion strategy. With his background as the former CMO of Pilot.com in San Francisco, Rao's skills will play a crucial role in enhancing Rocketlane's market visibility and executing key strategic plans.

Rocketlane was established in 2020 by Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala. The company provides a specialized integrated workspace designed for customer collaboration during project onboarding. This platform assists organizations in reducing their time-to-value, optimizing software implementation processes, and enhancing real-time visibility.

Rocketlane, in addition to its operations in India, also maintains a strong foothold in the United States and Europe. The company boasts a global customer base of 500 paying clients, with the United States accounting for 30% of its overall revenue.

Rocketlane asserts that it has experienced a threefold increase in its revenue and has successfully acquired more than 500 clients in the past year. Notably, among these clients are prominent enterprise organizations that have transitioned from outdated Professional Services Automation (PSA) tools to Rocketlane.

Some of the notable companies that have chosen Rocketlane as their preferred platform include Chargebee, Pando, ParcelLab, Yellow.ai, LinkSquares, Appcues, and Netcore.