Rocketlane Bags $60 Million in Series C Funding Led by Insight Partners for Expansion

Rocketlane has raised $60 million in a Series C round led by Insight Partners, taking total funding to about $105 million, as per news reports.  

The company had earlier secured $24 million in a Series B round in 2024 from 8VC, Matrix Partners India and Nexus Venture Partners. The valuation for the current round has not been disclosed. 

Founded in April 2020, Rocketlane develops software used by enterprises to manage professional services workflows. 

Shift in Enterprise Demand 

The fundraise comes as companies move from testing artificial intelligence tools to deploying them in operational environments. Several firms continue to face delays in translating pilot projects into measurable output. 

This has increased the role of professional services teams responsible for implementation and delivery. Global IT services spending is projected to approach $1.9 trillion, indicating sustained demand for these functions. 

Product Development 

The company recently launched Nitro, a platform to automate parts of service delivery. The system uses software agents to handle tasks such as data migration, configuration, documentation, and testing. 

Earlier tools in this segment were largely limited to tracking and reporting project progress. The newer approach focuses on carrying out repeatable tasks within delivery workflows. 

Growth and Expansion 

Rocketlane reported that its revenue more than doubled over the past year. Average deal size has increased 4.5 times since 2023. The company has also expanded its presence with offices in London, New York and San Francisco. 

It serves over 750 customers globally, including 17 firms listed in the Forbes Cloud 100. Clients include Intercom, Glean, and Notion. 

Use of Proceeds 

The company plans to use the funds for product development, including further work on its automation platform, and expand enterprise sales efforts. Hiring is expected to increase across India, the United States and the United Kingdom. 

The firm is also evaluating opportunities in its sector, though it has not completed any acquisitions so far. 

Read More: Insurtech Startup Plum Secures ₹193 Crore in Series B to Expand Platform and AI Capabilities! 

Conclusion 

The funding comes amid continued investment in tools linked to enterprise software delivery, particularly those aimed at improving execution alongside adoption. 

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