Tuesday, July 16, 2024

AI Startup Rockets to $24M Funding: How This Game-Changer Will Transform Professional Services

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Rocketlane, a startup that provides a customer onboarding platform for professional services teams, has raised $24 million in a Series A funding round led by 8VC. The round also saw participation from Nexus Venture Partners, Matrix Partners India, and several angel investors.

Founded in 2020, Rocketlane aims to streamline and automate the customer onboarding process for professional services teams, such as consulting firms, marketing agencies, and IT services providers. The platform offers a suite of tools for project management, collaboration, and communication, as well as AI-powered features for automating tasks and providing insights.

With the new funding, Rocketlane plans to accelerate product development, expand its team, and scale its go-to-market efforts. The company also intends to invest in building out its AI capabilities, with the goal of providing more personalized and intelligent experiences for its users.

“Professional services teams are under immense pressure to deliver exceptional client experiences while also managing complex projects and tight deadlines,” said Srikrishnan Ganesan, co-founder and CEO of Rocketlane. “Our platform is designed to help these teams work more efficiently and effectively, so they can focus on delivering value to their clients.”

Rocketlane’s platform is already being used by over 100 customers, including consulting firms, marketing agencies, and IT services providers. The company claims that its platform can help teams reduce onboarding time by up to 50%, while also improving client satisfaction and retention.

“Rocketlane is tackling a critical pain point for professional services teams, and we believe their platform has the potential to transform the industry,” said Bhaskar Ghosh, Partner at 8VC. “We’re excited to support the team as they continue to innovate and grow.”

The professional services industry is a large and growing market, with global spending expected to reach $7 trillion by 2025. As more companies look to outsource non-core functions and focus on their core competencies, the demand for professional services is only expected to increase. Rocketlane is well-positioned to capitalize on this trend, with a platform that helps teams work more efficiently and deliver better results for their clients.

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