[Funding Alert] Rocketlane raises $18M in Series A
Purpose-built customer onboarding platformhas raised $18 million Series A funding. The round was led by previous Asana investor, 8VC, with participation from Nexus Venture Partners, Matrix Partners India, and prominent angel investor, Gokul Rajaram.
Today’s funding announcement comes just seven months after Rocketlane announced its seed funding round, bringing the total capital invested to $21 million. The funding will be used to expand product offerings, accelerate marketing, and grow the Rocketlane team.
Srikrishnan Ganesan, Co-founder and CEO, Rocketlane, said, “This funding round follows on the back of very strong early customer growth, and validates the market pull in the category as well as the clear product leadership position we’ve established. We were also just named a leader by G2 in the client onboarding category.”
The startup helps businesses accelerate their time-to-value, boost customer satisfaction, and reduce churn. The idea for Rocketlane grew out of the founding trio’s own problems with onboarding customers for Freshchat—Sri, Deepak, and Vignesh had built Konotor, an in-app messenger that was acquired by Freshworks and relaunched as Freshchat.
Bhaskar Ghosh, Partner & CTO, 8VC said, "Customer onboarding represents a new two-sided project management problem that simply cannot be addressed by a patchwork of existing project management tools. Rocketlane has dared to provide a fresh new take to serve this category. They have shown stunning execution to deliver a thoughtful and extensible product that is experiencing rapid adoption.”
Rocketlane has onboarded customers such as Chargebee, ParcelLab, Yellow.ai, LinkSquares, Appcues, and Netcore.
“The Rocketlane team is off to a fast start towards establishing category leadership in the customer onboarding domain and has grown at a rapid clip in the last 6 months. We’re excited to double down on our investment here and welcome 8VC to the partnership,” said Vikram Vaidyanathan, Managing Director, Matrix India.
Rocketlane also runs Preflight, an invite-only Slack community for onboarding, implementation, and CS professionals. Currently serving 1200 members, the community, Srikrishnan said, is a part of Rocketlane’s holistic approach to help businesses level up and make their implementation process seamless.
“Nexus is thrilled to support the Rocketlane team on their journey to becoming a global category leader in the customer onboarding and services automation space. We are seeing an increase in the number of global software companies looking to use Rocketlane’s platform to accelerate their time to value, reduce churn, boost their NPS, and make their customer success function a source of enduring competitive advantage,” said Sameer Brij Verma, Managing Director, Nexus Venture Partners.
The platform replaces generic project management and document collaboration tools with a unique, unified workspace that improves communication, collaboration, and project visibility for businesses and their customers. It equips teams with trends and benchmarks across projects, which in turn helps them develop and optimise playbooks and best practices.
“Rocketlane has helped us move from lack of visibility, poor hand-offs, and hit-or-miss go-lives, to a streamlined implementation methodology that every team member adheres to. What we have now is project visibility for management and for customers, smoother onboardings, and accelerated time to value,” said S Balajee, Chief Customer Officer at Netcore.