SaaS Labs raises $42 mn in series B funding led by Sequoia Capital

SaaS Labs, which builds business automation tools for sales and support teams worldwide, has raised $42 million 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 participation from prominent Silicon Valley angel investors such as Amit Agarwal, Allison Pickens, Anand Chandrasekaran, and Michael Stoppelman. The company plans to use the funds raised on R&D, to develop new products for its global users, as well as to scale newly-launched products.

“Excited to partner with Sequoia Capital India to accelerate our growth. While we are well-capitalized, this round gives us the firepower needed to double down on what's working, hire great talent globally, launch innovative products, focus on brand marketing and get aggressive with strategic M&As. As SMBs will continue to adopt software to modernize different functions like sales, support, and marketing, etc. within their business, we are confident that SaaS Labs will be able to capture that opportunity and grow 30x in the coming 5-7 years.” said Gaurav Sharma, founder & CEO, SaaS Labs.

Companies of today need a robust software infrastructure that empowers sales and support teams to deliver strong customer experiences. As enterprises and SMBs recognise the need to modernise and support remote work, their teams are on the lookout for solutions that help them put customers first.

Strengthening this endeavour, SaaS Labs has entered Europe, a market where SMBs are rapidly adopting cloud software, with two strategic acquisitions: Poland-based CallPage, a call-back automation tool that enables the sales team to connect with their leads instantly. And France-based Atolia, a productivity, communication and collaboration workspace tool.

The acquisitions enable SaaS Labs to unlock product synergies through integration while the two companies benefit from the 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 companies of all sizes get closer to their customers by empowering sales and support teams to automate tasks, cut costs and become more efficient with its two core products.

Over 6000 global customers like GoStudent, Booksy, HelloFresh, Grab, and Keller Willams use SaaS Labs’ solutions to power sales and support. The company has seen a 2.5x growth in revenues primarily through organic channels in 2021, same d the company 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 marries the efficiency of digital and the intimacy of offline communication channels. Its flagship product JustCall, for example, has been able to drive deep impact. Customers, on average, reported time savings of 12 hours a week per agent on manual tasks while customer satisfaction improved by 30%. Sequoia Capital India is thrilled to partner with Gaurav and the team as they build the future of customer communication,” said Tejeshwi Sharma, MD, Sequoia India.

Over the next six to 12 months, the company will continue to look for 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.