Rocketlane Secures $24M to Enhance AI Integration in Service Delivery

Rocketlane Secures $24M to Enhance AI Integration in Service Delivery

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Today, California-based Rocketlane, a SaaS startup focused on simplifying post-sales service delivery for enterprises, announced it has raised $24 million in a series B funding round. The round was led by 8VC, Matrix Partners India, and Nexus Venture Partners. With this investment, Rocketlane’s total funding now amounts to $45 million. The company plans to use these funds to enhance its platform by incorporating AI, aligning with a global trend where SaaS providers are increasingly integrating AI to meet growing customer demands.

Rocketlane aims to complement project delivery teams with AI to improve efficiency. The company is expanding its offerings to ensure seamless execution and collaboration throughout the customer journey.

Rocketlane addresses a common challenge for companies: successfully delivering services after securing a customer. This requires timely implementation and ongoing collaboration to ensure customer satisfaction. Typically, teams use various tools, but this approach often leads to inaccurate reports and delays due to the siloed nature of these tools. Founded in 2020, Rocketlane offers a solution to this problem.

The core of Rocketlane’s offering is an all-in-one service delivery platform that enhances visibility and accountability for both clients and internal teams. The platform includes project management, document collaboration, forms, customer satisfaction surveys, chat, meeting notes, status updates, and email templates. It also features capabilities like time tracking, resource capacity management, rate cards, project finances, and reporting, providing a comprehensive set of tools for service operations.

Rocketlane plans to use the new funds to integrate an AI layer across its product in four key areas: operations, project delivery, governance, and insights. For operations, the AI helps streamline resource management, allowing users to staff projects with a single click based on skills, availability, and other parameters. For project delivery, AI-powered automations will create documents, meeting notes, and follow-up emails automatically from call recordings, reducing manual effort. In governance, AI will identify project risks and deviations from standard procedures, sending automatic alerts when necessary. For insights, a copilot interface will allow users to query post-sale KPIs and execution patterns in plain English, simplifying data retrieval.

Rocketlane has been growing rapidly, with revenues increasing over 3x annually for the past two years and over 12x since the last funding round in January 2022. The company currently serves more than 500 enterprise customers, including major technology players like Live Person, Icertis, Uniphore, Moveworks, Fivetran, and Zenoti. For example, Flatfile has used Rocketlane to reduce customer go-live time by 70%.

In addition to enhancing its AI capabilities, Rocketlane plans to use the funding to hire talent across departments and strengthen its community-first efforts through events and content. The company also plans to launch a dynamic client-centric portal in the coming months.