Rocketlane, a B2B SaaS startup, has raised $60 million from New York-based Insight Partners as the Chennai firm doubles down on AI-led services. This takes its total funding to $105 million.
Founded in 2020 by Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala, the company builds professional services automation (PSA) software that helps enterprises manage and deliver client projects. Ganesan, the firm’s CEO and cofounder, told ET that revenues have more than doubled over the past year, and the average deal size has grown 4.5x since 2023.
The company raised $24 million in 2024, co-led by 8VC, Matrix Partners India, and Nexus Venture Partners.
“The strongest traction is coming from software companies, particularly their internal implementation and professional services teams that deploy products for customers. This includes AI-native companies like Glean, Vercel, Intercom, and Notion,” Ganesan said. He added that another chunk of business comes from the likes of Salesforce, SAP, and NetSuite, which specialise in enterprise software.
Prior to Rocketlane, the trio built Konotor, a mobile-first customer support system which was acquired by Freshdesk (now Freshworks) in 2015, and integrated into Freshchat.
This fundraise comes as enterprises shift from AI experimentation to real deployment, with sharper focus on measurable outcomes. According to Gartner, global IT services spending covering consulting, implementation, and integration is projected to reach $1.9 trillion.
Ganesan said the funding will be deployed across both Rocketlane’s core PSA platform and its new AI product, Nitro. Launched last month, Nitro is an agentic execution platform designed to embed AI directly into services workflows.
“Unlike traditional PSA tools that focus on planning and tracking, Nitro deploys AI agents to execute tasks such as migration, configuration, documentation, and testing,” he said. In early deployments, Nitro has shown the potential to reduce delivery effort by up to 50% while surfacing risks weeks earlier, enabling services teams to increase capacity without proportional headcount growth, the company said.
Ganesan added that the shift to AI is also changing pricing models. While the core platform continues to follow a seat-based SaaS model, the AI layer is moving towards consumption-based pricing.
“Customers pay a base platform fee and then use credits based on how much they consume the AI capabilities, aligning pricing more closely with actual usage and outcomes,” he said. Rocketlane currently serves over 750 customers globally, including 17 companies on the Forbes Cloud 100 list, and has expanded its presence with offices in London, New York, and San Francisco.
“Professional services teams are crucial engines of enterprise software and help turn signed contracts into real business outcomes,” said Apoorva Goyal, principal at Insight Partners, adding that Rocketlane’s AI-first platform enables these teams to scale their impact and productivity.
Founded in 2020 by Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala, the company builds professional services automation (PSA) software that helps enterprises manage and deliver client projects. Ganesan, the firm’s CEO and cofounder, told ET that revenues have more than doubled over the past year, and the average deal size has grown 4.5x since 2023.
The company raised $24 million in 2024, co-led by 8VC, Matrix Partners India, and Nexus Venture Partners.
“The strongest traction is coming from software companies, particularly their internal implementation and professional services teams that deploy products for customers. This includes AI-native companies like Glean, Vercel, Intercom, and Notion,” Ganesan said. He added that another chunk of business comes from the likes of Salesforce, SAP, and NetSuite, which specialise in enterprise software.
Prior to Rocketlane, the trio built Konotor, a mobile-first customer support system which was acquired by Freshdesk (now Freshworks) in 2015, and integrated into Freshchat.
This fundraise comes as enterprises shift from AI experimentation to real deployment, with sharper focus on measurable outcomes. According to Gartner, global IT services spending covering consulting, implementation, and integration is projected to reach $1.9 trillion.
Ganesan said the funding will be deployed across both Rocketlane’s core PSA platform and its new AI product, Nitro. Launched last month, Nitro is an agentic execution platform designed to embed AI directly into services workflows.
“Unlike traditional PSA tools that focus on planning and tracking, Nitro deploys AI agents to execute tasks such as migration, configuration, documentation, and testing,” he said. In early deployments, Nitro has shown the potential to reduce delivery effort by up to 50% while surfacing risks weeks earlier, enabling services teams to increase capacity without proportional headcount growth, the company said.
Ganesan added that the shift to AI is also changing pricing models. While the core platform continues to follow a seat-based SaaS model, the AI layer is moving towards consumption-based pricing.
“Customers pay a base platform fee and then use credits based on how much they consume the AI capabilities, aligning pricing more closely with actual usage and outcomes,” he said. Rocketlane currently serves over 750 customers globally, including 17 companies on the Forbes Cloud 100 list, and has expanded its presence with offices in London, New York, and San Francisco.
“Professional services teams are crucial engines of enterprise software and help turn signed contracts into real business outcomes,” said Apoorva Goyal, principal at Insight Partners, adding that Rocketlane’s AI-first platform enables these teams to scale their impact and productivity.
