SaaS Labs, which builds business automation tools has raised US$42 million in a Series B funding round led by Sequoia Capital India. The funding round was also joined by the existing investors- Eight Road Ventures and Base 10 Partners along with participation from Silicon Valley angel investors.
The latest funding comes just four months after the Series A round when it raised US$17 million from San-Francisco-based early-stage venture capital firm Eight Roads Ventures and Base 10 Partners.
The company has also said that it acquired two cloud service platforms-CallPage, a Poland-based call-back automation tool, and Atolia, a France-based platform that provides productivity, collaboration, and communication workspace tools to enter the European market.
SaaS Labs plans to use the fresh funding on research and development, to develop new products for its global users, and to scale newly launched products.
“While we are well-capitalised, 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 modernise different functions like sales, support, 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,” Gaurav Sharma, Founder and CEO, SaaS Labs said.
Tejeshwi Sharma, MD of Sequoia India, said, “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%.”
About SaaS Labs
India-based SaaS Labs founded in 2016 by Gaurav Sharma develops products for sales, support, and marketing teams as well as builds contact centers to boost productivity.
The company has two main products Helpwise and Justcall. Helpwise users can consolidate all communication streams in a single shared inbox to increase the efficiency of the customer support team. Justcall enables SMBs (small and medium businesses) to install a cloud-based contact centre for sales or support, within minutes with native integrations with over 70 other business tools.
SaaS Labs sales grew 2.5x in 2021, mostly through organic routes. The company products are used by more than 6000 clients, including Boosky, GoStudent, Grab, HelloFresh, and Keller Willians.