Customer onboarding platform Rocketlane, started by former executives of Freshworks, on Wednesday said it has raised $18 million as part of its Series A funding round led by venture capital firm 8VC.
Nexus Venture Partners, Matrix Partners India, and a prominent angel investor, Gokul Rajaram, also participated in the funding round, said Rocketlane in a statement.
The startup will use the fresh capital to boost its product offerings and team and to accelerate its marketing efforts, it added.
The latest funding comes just months after it raised d $3 million in seed funding from Matrix Partners India and Nexus Venture Partners along with a bunch of angel investors in June last year.
Rocketlane, which was founded in 2020 by Vignesh Girishankar, Srikrishnan Ganesan and Deepak Bala, is a customer onboarding platform. The platform seeks to replace generic project management and document collaboration tools with a unified workspace that improves communication, collaboration, and project visibility for businesses and their customers. Its customers include Chargebee, Delhivery, Yellow.ai, Moengage, and Webengage.
Bhaskar Ghosh, Partner and CTO, 8VC, noted in the statement that 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," added Ghosh.
8VC is a technology investment firm, it has backed companies like Palantir, Resilience Bio, Epirus, Addepar, Affinity, and OpenGov, among others. The firm was founded in 2016 and manages over $5 billion in committed capital. 8VC invests in smart enterprise platforms across industries including financial services, healthcare, defense, logistics and others as well as in Bio-IT.
