SaaS Labs, which creates business automation tools for sales and support teams worldwide, raised $42m in Series B funding led by Sequoia Capital India with participation from existing investors, Base 10 Partners and Eight Roads Ventures.
The round also saw the participation of prominent Silicon Valley angel investors such as Amit Agarwal, Allison Pickens, Anand Chandrasekaran and Michael Stoppelman. The company plans to use the raised funds for R&D, developing new products for its global users, as well as scaling newly launched products.
“Glad to partner with Sequoia Capital India to accelerate our growth. While we are well capitalized, this cycle gives us the firepower to double down on what works, hire great talent globally, launch innovative products, focus on brand marketing and get aggressive with mergers. and strategic acquisitions. While SMBs will continue to adopt software to modernize different functions such as sales, support and marketing etc. within their company, we are confident that SaaS Labs will be able to seize this opportunity and grow 30 times over the next 5-7 years. said Gaurav Sharma, founder and CEO of SaaS Labs.
Businesses today need a robust software infrastructure that enables sales and support teams to deliver strong customer experiences. As enterprises and SMBs recognize the need to modernize and support remote working, their teams are looking for solutions that help them put customers first.
Bolstering this effort, SaaS Labs entered Europe, a market where SMBs are rapidly adopting cloud software, with two strategic acquisitions: Polish company CallPage, a callback automation tool that allows the sales team to connect instantly with their prospects. And France-based Atolia, a productivity, communication and collaboration workspace tool.
The acquisitions allow SaaS Labs to unlock product synergies through integration while both companies benefit from exposure to SaaS Labs’ global customer base. Their teams will join SaaS Labs as full-time employees.
Founded in 2016 by Gaurav Sharma, SaaS Labs helps fast-growing businesses of all sizes get closer to their customers by enabling sales and support teams to automate tasks, reduce costs, and become more efficient with its two main products.
More than 6,000 global customers like GoStudent, Booksy, HelloFresh, Grab and Keller Williams use SaaS Labs solutions to drive sales and support. The company saw 2.5x revenue growth primarily through organic channels in 2021, as the company did in a statement.
“SaaS Labs is building a multi-channel customer communication platform for small and medium businesses. Through a suite of products, it offers an experience that combines the efficiency of digital and the intimacy of offline communication channels. Its flagship product JustCall, for example, was able to have a profound impact. Customers, on average, reported a time savings of 12 hours per week per agent on manual tasks while customer satisfaction improved by 30%. Sequoia Capital India is thrilled to partner with Gaurav and his team as they build the future of customer communications,” said Tejeshwi Sharma, MD, Sequoia India.
Over the next six to twelve months, the company will continue to pursue acquisition opportunities in the space. These are all steps in the direction of creating an ecosystem that makes life easier for sales and CX teams at every customer touchpoint/interaction.