Rocketlane Raises $24 Million in Series B Funding Led by 8VC & Nexus
Jun 25, 2024 18:33
Rocketlane, a B2B software-as-a-service firm, has secured $24 million in Series B funding led by 8VC, Matrix Partners India, and Nexus Venture Partners. The funding will fuel Rocketlane's AI roadmap and expand its client base.
New Delhi, Jun 25 (PTI) B2B software-as-a-service firm Rocketlane has raised USD 24 million (about Rs 200 crore) in a funding round co-led by 8VC, Matrix Partners India, and Nexus Venture Partners, the company said on Tuesday.
The latest round of funding comes at a time when the company still had USD 11 million in the bank.
"Rocketlane... has raised USD 24M in its Series B funding round, bringing the total funds raised to USD 45 million. The Series B is co-led by 8VC, Matrix Partners India, and Nexus Venture Partners," the company said in a statement.
The new funding will accelerate Rocketlane's AI roadmap, enabling the development of advanced features and capabilities that enhance client project delivery, it said.
"We are thrilled to have the support of our investors as we continue to grow and innovate in the client project delivery space," Rocketlane CEO and Co-founder Srikrishnan Ganesan said.
The company claims to have tripled its revenue over the past year, reaching over 500 customers in 2023.
"We are thrilled to double down on backing Sri and the team at Rocketlane as they transform the PSA and customer onboarding categories with their industry-leading, AI-powered product and fast-growing list of marquee customers," Nexus Ventures Partners, Managing Director, Jishnu Bhattacharjee said.
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