[Funding alert] SaaS platform Toplyne raises $2.5M from Sequoia Capital , Together Fund, others
SaaS startup, which enables product-led growth companies to increase their freemium user conversion rates, raised $2.5 million from Sequoia Capital India’s Surge, Together Fund, and angel investors from , , and Zoominfo.
Founded in June 2021 by Rishen Kapoor, Ruchin Kulkarni, and Rohit Khanna, Toplyne is a plug-and-play platform that enables sales teams at PLG (product-led growth) companies to identify and focus on the users and accounts most likely to convert.
Speaking on the new development, Ruchin Kulkarni, Co-founder, Toplyne, said,
“Every decade, there has been a fundamental evolution in SaaS go-to-market strategy. The 2000s were the decade of the sales-led motion. The 2010s saw the evolution of inbound marketing as the default. We’re at the cusp of the third evolution in SaaS GTM strategy, and product-led growth (PLG) is going to be the default motion of the future."
“After speaking with hundreds of PLG companies, we realised most companies were flying blind. Moreover, even the very best had spent several quarters (if not years) and hundreds of thousands of dollars building complex internal tools, which at the end of the day, didn’t get the job done,“ added Rishen Kapoor, Co-founder and CEO at Toplyne.
Commenting on the investment, David Burson, Head of Product, Growth, and Monetisation, Canva, said,
“Millions of people around the world use Canva to achieve their goals. It’s important that we’re able to identify users where our premium subscriptions are the right fit and can add value to the way they’re using our platform. We’re looking forward to using Toplyne to effectively target and scale these efforts at our speed of growth while continuing to deliver value to our community of users across the globe.”
"Founders and builders of product-led growth companies face the challenge of sales prioritisation every day. Zeroing in on users, who are most likely to pay, is key to future-proofing your success. The Toplyne team’s experience in this sector, both as investors and entrepreneurs, convinced us they’re the right team to solve this problem, and we're thrilled that Together Fund can help them scale," said Girish Mathrubootham, CEO and Founder, Freshworks.
“Our product’s first version went live on Day 30 of the company’s existence when we onboarded our first customer - InVideo. When we saw their sales conversion rate double in just a few days, we knew we were onto something,” said Rohit Khanna, Co-founder, Toplyne.