Rocketlane Secures $24M Funding to Boost AI Innovations

Rocketlane, a B2B software-as-a-service firm, has raised $24 million in a Series B funding round co-led by 8VC, Matrix Partners India, and Nexus Venture Partners. The extra funds aim to accelerate their AI roadmap, enhancing client project delivery. The company has tripled its revenue, reaching over 500 customers in 2023.

Rocketlane, a prominent B2B software-as-a-service firm, announced on Tuesday that it has successfully raised USD 24 million in a recent Series B funding round. The investment was co-led by 8VC, Matrix Partners India, and Nexus Venture Partners. With this boost, Rocketlane's total funding now stands at USD 45 million.

This infusion of capital comes despite the company already having USD 11 million on hand. According to Rocketlane, the fresh funds will accelerate their AI roadmap, enabling the development of advanced features that will significantly enhance client project delivery.

Rocketlane's CEO and Co-founder Srikrishnan Ganesan expressed his enthusiasm, stating, 'We are thrilled to have the support of our investors as we continue to grow and innovate in the client project delivery space.' The firm also reported that it has tripled its revenue over the past year and has amassed over 500 customers in 2023.

Nexus Ventures Partners' Managing Director, Jishnu Bhattacharjee, shared his optimism: '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.'

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