Rocketlane to Expand AI Capabilities with a $24 million in Series-B Funding

With its new technologies, Rocketlane hopes to replace outdated PSA software for companies

In a Series-B fund raising round, Rocketlane, a B2B SaaS platform which focuses on project management and customer onboarding, acquired $24 million. With the participation of investors such as 8VC, Matrix Partners India, and Nexus Venture Partners, the company raised a total of $45 million in this funding round. Rocketlane was established in 2020 with the goal of enhancing its AI-driven resource administration and productivity skills. The company intends to deploy the money to launch new services, expedite its AI roadmap, and enhance client project delivery. In an effort to establish Rocketlane ahead of rivals in the client project delivery market, CEO Srikrishnan Ganesan affirms that subsequent innovations would feature exclusive AI capabilities and an engaging client portal.

Together with funding, Rocketlane strengthened its market presence by appointing Rao Adavikolanu as Chief Marketing Officer. Among its strategic objectives is the company's emphasis on attracting top-tier workforce. With its new technologies, Rocketlane hopes to replace outdated PSA software for companies including OpenGov, LivePerson, and Zenoti. Matrix India's Vikram Vaidyanathan commended Rocketlane for its vision execution and swift industry adoption, emphasizing its stronghold in the market.

The dedication of Rocketlane to innovation and expansion in the combative B2B SaaS market is demonstrated by this fundraising round.