Indian workflow automation platform Rocketlane has on Tuesday announced $24 million Series B funding round as it expands the opportunity for professional services teams with artificial intelligence (AI) capabilities.

The firm said in a statement that the funding round was co-led by 8VC, Matrix Partners India, and Nexus Venture Partners.

With this, it brings the firm’s total funds raised to $45 million.

According to the statement, Rocketlane will launch its own AI functionality with more capabilities in the coming months.

The new funding will significantly accelerate the firm’s AI roadmap, enabling the development of advanced features and capabilities that enhance client project delivery.

As enterprises focus more on leveraging AI, Rocketlane opined that its AI-driven capabilities for resource management, efficiency, and productivity are expected to provide a competitive edge.

“Our unique combination of high-velocity innovation and robust capabilities sets us apart, and has helped us consistently win large, forward-thinking customers, including public companies,” said Srikrishnan Ganesan, Chief Executive Officer and Co-founder of Rocketlane.

“With this new investment, we are committed to accelerating our AI roadmap and redefining the client portal experience,

“We have equipped ourselves to handle the challenges of rapid growth, and continue delivering exceptional value to our clients,” he added.

Looking ahead, Rocketlane said the firm is committed to attracting more top-tier talent and executing its AI-first roadmap to make onboarding and project deliveries chaos-free.

“The team is excited about our upcoming innovations–especially the unique AI capabilities and the first-of-its-kind dynamic client portal in this space–that will expand the gap between Rocketlane and the competition,” Ganesan said.

Rocketlane is a purpose-built professional services automation (PSA) and client onboarding platform that helps businesses deliver predictable outcomes, accelerate time-to-value, and improve team utilization and project profitability.

The platform reimagines service delivery for teams by replacing legacy PSA and generic project tools with an all-in-one and modern client-centric platform.

It offers a unique, unified workspace that improves communication, collaboration, and project visibility for businesses and their clients.

It equips teams with trends and benchmarks across projects, which in turn helps them develop and optimize playbooks and processes.

The company was founded in April 2020 by second-time entrepreneur trio — Srikrishnan Ganesan, Vignesh Girishankar, and Deepak Bala.

Previously, the trio built a successful in-app messaging (FreshChat) startup that was acquired by Freshworks in 2015 and started Rocketlane in response to problems they faced onboarding their own customers to FreshChat.

Over the last year, Rocketlane has tripled its revenue and reached over 500 customers, including enterprise companies that have switched to Rocketlane from legacy PSA tools.

Its recent customer wins include industry-leading names like OpenGov, LivePerson, Fivetran, Personio, and Zenoti among others.

“Rocketlane has reshaped enterprise client project delivery, replacing tired, legacy PSA approaches with elegant software and deployment,” said Bhaskar Ghosh, Partner at 8VC.

“Speed and agility matter when you become the leader in a category like customer onboarding,

“Rocketlane has achieved precisely that since their Series A, showing themselves to be both visionaries and incredibly hard-nosed executors,” he added.

‍Jishnu Bhattacharjee, Nexus Ventures Partners, added that Rocketlane has transformed the PSA and customer onboarding categories with their industry-leading, AI-powered product and fast-growing list of marquee customers.

Vikram Vaidyanathan, Managing Director of Matrix India, added that the Rocketlane team has a great opportunity to replace legacy PSA software with their AI roadmap and great user experience.

“The company has executed this vision with rapid adoption and has solidified its industry-leading position,” he said.

As part of its growth strategy, Rocketlane has also announced the appointment of Rao Adavikolanu as Chief Marketing Officer (CMO).

Adavikolanu’s expertise will be instrumental in driving Rocketlane’s market presence and strategic initiatives, said the statement.

Novo invests in Indian agritech firm AgNext Technologies