Rocketlane Secures $60 Million in Series C Funding from Insight Partners

Rocketlane Raises $60 Million in Series C Funding

Rocketlane, a Chennai-based Professional Services Automation (PSA) startup, has secured $60 million in a Series C funding round led by Insight Partners, a global software investor.

The funding comes at a time when the Software-as-a-Service (SaaS) sector is undergoing significant disruption driven by Artificial Intelligence (AI). This shift has forced enterprises to focus on deploying AI and achieving measurable outcomes, rather than just experimenting with the technology.

Rocketlane has now raised a total of $105 million in funding, following a previous $24 million Series B round in 2024, co-led by 8VC, Matrix Partners India, and Nexus Venture Partners. The company's valuation for the current round remains undisclosed.

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Rocketlane is expanding its capabilities with the recent launch of its new AI platform, Nitro, which automates execution and deploys AI agents to handle routine tasks like documentation and data migration. The company plans to use the fresh capital for research and development, enterprise go-to-market efforts, and global expansion.

The funding will also support Rocketlane's increased research and development investment, as it builds two products instead of one, and expands its teams across India, the US, and the UK. The company is shifting its pricing model to a consumption-based model, marking a departure from traditional seat-based software spending.

Rocketlane was founded in April 2020 by Srikrishnan Ganesan, Vignesh Balasubramanian, and Deepak Bala, who previously worked together at Freshworks. The company is open to acquiring startups and actively tracks companies in its space, with many approaching Rocketlane when they want to exit.