Saas Startup Rocketlane is betting on the client onboarding segment
- ByStartupStory | April 11, 2022
Rocketlane, a Chennai-based software-as-a-service startup, said customer onboarding is becoming increasingly important for B2B companies selling to large customers, for whom a good onboarding experience is proving to be a boon in fast-paced growth environments, according to co-founder and CEO Srikrishnan Ganesan.
Venture capital backed Rocketlane is one of a new generation of business-focused SaaS startups emerging from India and making waves in the multibillion-dollar US SaaS market. With established companies like Zoho and Freshworks focusing on business software like help desks, CRM, accounting software, customer success, and more, the new generation is honing its skills in niches where market depth is projected to emerge in the coming years.
Until recently, “customer success” was a much-discussed niche that SaaS startups were pursuing: it refers to optimizing a product package so that it offers the best results at the best price for the consumer. Ganesan, who had previously sold his in-app chat company Konotor to Freshworks, created Rocketlane in the midst of the pandemic. In January, the business raised $18 million in a round led by 8VC, more than doubling its seed round of $3 million.
Within six months of launching, Rocketlane has risen to the top of G2, a publication that publishes peer-reviewed reports on business software. Chargebee and Yellow.ai, two SaaS unicorns, are among the company’s onboarding customers. With the rising acceptance of public cloud software around the world, the SaaS sector has gone a long way from where it was ten years ago. As more SaaS is sold, the process of onboarding new, large clients will become increasingly important for developing B2B SaaS companies.
In terms of growth estimates, he noted that, for the most part, SaaS companies expect to see a 5x increase in revenue in the first year, up from 3x previously. He went on to say that these expectations are in line with the amount of money going into SaaS companies, and that founder must ensure that the targets do not put too much pressure on their teams. Rocketlane has so far received $21 million in investment.
Now The company, which is based in Chennai, has only recently begun recruiting in the United States. It hopes to capitalize on its newfound popularity by hosting Propel 22, a two-day virtual global conference on customer onboarding that began in mid-March.
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