Rocketlane Secures $24 Million in Series B Funding to Revolutionize Client Onboarding and Project Delivery for Professional Services Teams

Rocketlane, a provider of AI-powered post-sales CRM solutions for professional services teams, today announced the closing of a $24 million Series B funding round. The round was co-led by 8VC, Matrix Partners India, and Nexus Venture Partners, bringing Rocketlane’s total funding to $45 million.

This investment fuels Rocketlane’s mission to empower professional services teams by eliminating the inefficiencies associated with siloed tools and legacy systems. Rocketlane’s all-in-one platform streamlines project management, fosters seamless communication with clients, and leverages AI to enhance resource allocation and project delivery.

Srikrishnan Ganesan, CEO & Co-founder, Rocketlane commented: “Our unique combination of high-velocity innovation and robust capabilities sets us apart, and has helped us consistently win large, forward-thinking customers, including public companies. With this new investment, we are committed to accelerating our AI roadmap and redefining the client portal experience,” adding, “We have equipped ourselves to handle the challenges of rapid growth, and continue delivering exceptional value to our clients.”

‍Nav Kalra, VP of Professional Services at OpenGov, a Rocketlane customer said, “In a sea of legacy tools, Rocketlane stands out as a modern, disruptive force in the PSA software landscape with its all-in-one platform. The intuitive interface and unparalleled client-facing experience make managing client projects a breeze. We’re thrilled to partner with Rocketlane as we continue to revolutionize the way we work.”

Traditionally, professional services teams rely on a patchwork of spreadsheets and outdated PSA tools, leading to project delays and profitability challenges. Rocketlane provides a holistic view of every project, enabling teams to prioritize tasks, collaborate effectively, and deliver exceptional client experiences.

The company is dedicated to continuous innovation, focusing on integrating advanced AI functionalities to further optimize project delivery. These capabilities will provide Rocketlane’s customers with a competitive edge in resource management, efficiency, and overall productivity.

Rocketlane’s commitment to excellence has been recognized by industry leaders. The company has been named the G2 Momentum Leader in the PSA category for three consecutive quarters and holds 199 G2 badges in the Spring 2024 report. Rocketlane has also secured a roster of impressive clients including OpenGov, LivePerson, Fivetran, Personio, Zenoti, Icertis, Drift, Moveworks, and Clari.

To support its ambitious growth plans, Rocketlane has appointed Rao Adavikolanu as its Chief Marketing Officer (CMO). Rao’s expertise will be instrumental in driving brand awareness and strategic initiatives.

“Rocketlane has reshaped enterprise client project delivery, replacing tired, legacy PSA approaches with elegant software and deployment,” said Bhaskar Ghosh, Partner at 8VC. “Speed and agility matter when you become the leader in a category like customer onboarding. Rocketlane has achieved precisely that since their Series A, showing themselves to be both visionaries and incredibly hard-nosed executors. We are thrilled to continue supporting Rocketlane and Sri, Deepak, and Vignesh, founders who lead with a rare blend of thought, culture, and action.”

‍Jishnu Bhattacharjee, Nexus Ventures Partners, added: “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.”

‍Vikram Vaidyanathan, Managing Director, Matrix India, added: “The Rocketlane team has a great opportunity to replace legacy PSA software with their AI roadmap and great user experience. The company has executed this vision with rapid adoption and has solidified its industry-leading position. We are excited to reinforce our commitment to them.”

Looking Ahead: A Future-proof Solution

Rocketlane customer Siva Rajamani, CEO, Everstage commented: “We have accelerated customer wins by 35%, and helped our post-sales teams build stronger partnerships with customers from the start of their journey. Rocketlane elevates our customer experience in delivery with strong automation and consistency into our execution with customers”.

Looking ahead, Rocketlane is committed to attracting more top-tier talent and executing its AI-first roadmap to make onboarding and project deliveries chaos-free. Srikrishnan Ganesan added: “The team is excited about our upcoming innovations–especially the 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”.