Chennai headquartered software as a service (SaaS) startup Rocketlane has raised $60 million in Series C round of funding led by Insight Partners.
The startup has now totally raised $105 million in funding. In 2024, it had raised $24 million in a Series B round that was co-led by 8VC, Matrix Partners India, and Nexus Venture Partners.
According to Rocketlane, it will utilize the new capital to accelerate the development of its agentic platform – Nitro’s, expand enterprise go-to-market initiatives, and scale global operations.
Rocketlane operates in the space called professional services automation where it digitises customer onboarding and project delivery functions. The startup claimed that it has doubled its revenue over the last one year with the opening of new offices in London, New York, and San Francisco. Besides, it also saw average deal size increase 4.5× from 2023.
Rocketlane founders (from left): Srikrishnan Ganesan, Vignesh Girishankar, Deepak Bala
According to Gartner, global spfinishing on IT services, including consulting, implementation, and integration, is projected to approach $1.9 trillion. This reflects a growing reliance on services teams to operationalise enterprise AI and technology investments. The traditional PSA tools still relies on manual effort, Rocketlane’s tech platform is aimed at supporting services teams increase capacity without proportional headcount growth.
“Professional services teams are crucial engines of enterprise software and support turn signed contracts into real business outcomes. Rocketlane’s AI-first platform enables professional services teams to scale their impact without scaling headcount,” stated Apoorva Goyal, Principal at Insight Partners.
Earlier this month, Rocketlane launched Nitro, its AI agentic platform which it claimed can reduce delivery efforts by up to 50% and increase efficiency.
“PSA was built to track work,” stated Srikrishnan Ganesan, CEO and Co-founder of Rocketlane. “The next generation of platforms will be built to execute it. That’s the shift and category we’re driving.”
Rocketlane serves more than 750 customers globally, including 17 companies on the Forbes Cloud 100 list.
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