RocketLane secures $24M in funding for the development of an AI layer to enhance service delivery

AI layer, RocketLane, service delivery

RocketLane, a California-based SaaS startup, has recently announced a successful series B funding round, raising $24 million led by 8VC, Matrix Partners India, and Nexus Venture Partners. This brings their total capital raised to $45 million. The funding will be used to further develop RocketLane’s platform into an AI-powered offering. This aligns with the trend in the SaaS industry, where AI integration is becoming increasingly important to meet customer demands.

RocketLane aims to simplify post-sales service delivery for enterprises. While acquiring customers is important, delivering effective service is equally crucial. This includes timely implementation and ongoing collaboration with clients throughout their journey. Many teams currently use a mix of different tools for their post-sale workflows, resulting in fragmented processes and a lack of visibility. RocketLane solves this problem by providing enterprises with an all-in-one service delivery platform that enhances visibility and accountability.

The platform offers a range of capabilities, including project management, document collaboration, forms, customer satisfaction surveys, chat, meeting notes, status updates, email templates, time tracking, resource capacity management, project finances, and reporting. RocketLane boasts more native functionality than any other software in this space.

With the recent funding, RocketLane plans to integrate AI across its product in four key areas: operations, project delivery, governance, and insights. On the operations front, the company has already started rolling out AI capabilities to streamline resource management. Users can staff a project with a single click, based on required skills and availability. The technology also provides insights into forecasted utilization and project margins.

For project delivery, RocketLane plans to implement AI-powered automations in creating hand-off documents, meeting notes, and follow-up emails. These documents and communication templates can be auto-filled from call recordings, reducing manual effort for project managers and consultants.

AI will also play a role in governance, identifying risks in projects and alerting leadership to deviations from playbooks. For example, automatic alerts can be sent if a key stakeholder fails to attend client meetings or misses key deliverables. Additionally, RocketLane will build a copilot interface to provide users with data on their post-sale KPIs and patterns of execution in plain English.

The introduction of AI capabilities is expected to attract more paying customers to RocketLane’s platform. The company has experienced significant revenue growth, with revenues growing threefold annually for the past two years and over twelvefold since its last funding round in January 2022.

RocketLane currently serves over 500 enterprise customers, including major technology players like Live Person, Icertis, Uniphore, Moveworks, Fivetran, Salesloft, and Zenoti. Flatfile, a company offering smart APIs for data import, utilized RocketLane’s platform to reduce customer go-live time by 70%.

In addition to the AI development, the funding will be used to hire talent across departments and focus on community-first efforts through events and content. RocketLane also plans to launch a dynamic client-centric portal in the coming months.

Overall, RocketLane’s innovative approach to post-sales service delivery and their integration of AI capabilities position them as a leading player in the SaaS industry. With their robust platform and focus on customer-centric solutions, they are well-positioned to continue their growth and success in the market.

Source link

Leave a Comment