Rocketlane, a professional services automation platform based in Chennai, has secured $60 million in its Series C funding round, which was led by Insight Partners. This latest funding brings the total raised by the company to $105 million. Previously, the enterprise raised $24 million in a Series B round in June 2024, co-led by 8VC, Matrix Partners India, and Nexus Venture Partners. Earlier, Rocketlane obtained $18 million in its Series A funding in January 2022, also led by 8VC with backing from Matrix Partners India and Nexus Venture Partners.
Rocketlane intends to utilise the new funds to enhance the execution agents within Nitro, bolster its go-to-market strategies for enterprises, and broaden its international presence. Under the leadership of Srikrishnan Ganesan, Rocketlane aims to assist businesses in managing project delivery, resource allocation, and customer collaboration through a comprehensive platform. The recent initiative towards AI-driven execution aligns with the shift of enterprises from trial stages to the adoption of AI tools focused on measurable outcomes.
The company currently caters to over 750 clients worldwide, including notable names from the Forbes Cloud 100 list such as Intercom, Glean, and Notion. This latest fundraising activity occurs amidst significant growth, with Rocketlane reporting over double the revenue in the past year. Furthermore, the company has enhanced its enterprise presence by establishing offices in key cities like London, New York, and San Francisco. Recently, it introduced Nitro, an innovative AI-driven platform aimed at optimising delivery workflows for professional services teams.