Toplyne Raises $15 Million Series A led by Tiger Global and Sequoia Capital India
The team will use the funding to deliver on the product roadmap, and scale the data science, engineering, product, and design teams
Toplyne, a SaaS platform that enables companies to monetize their product-led growth flywheel, has announced $15 million in Series A funding led by Tiger Global and Sequoia Capital India, with participation from existing investors Together Fund, Sequoia India’s Surge and angel investors from Canva, Vercel & Zoominfo. The team will use the funding to aggressively deliver on the product roadmap, and scale the data science, engineering, product, and design teams.
Since the announcement of its $2.5 million seed round in November 2021, the company has onboarded several marquee customers including Canva, Grafana, Gather.Town, InVideo and BrowserStack and is all set to launch a self-serve freemium product within the next quarter to onboard a long list of waitlisted customers. The company has more than doubled from 13 to 30 employees across geographies, since the last round of funding.
Toplyne analyzes complex patterns in large volumes of product-usage data to identify users and accounts who have the highest intent to convert to paid subscriptions, and enables growth teams to rapidly experiment with and deploy various go-to-market (GTM) motions at scale - be it driving self-serve conversions through in-product nudges (chatbots, paywalls, promos) or sales-assisted conversions through high-velocity inside-sales teams.
Toplyne aims to become a one-stop-shop for PLG businesses to solve their monetization problems. The plug-and-play product seamlessly integrates into existing CRMs (Salesforce. Hubspot), product engagement platforms (Braze) and product analytics infrastructures (Amplitude, Segment) within minutes, the company said in a statement.
Toplyne was founded by Rishen Kapoor, Ruchin Kulkarni and Rohit Khanna. “It's an interesting time to be a monetization software. SaaS multiples are at all-time lows. Funding markets are drying up. ARR is back in vogue. PLG SaaS companies need their free users to convert to paid plans. And they need it to happen yesterday. Toplyne fills this gap by enabling businesses to monetize their product-led growth,” said Kulkarni.
Toplyne is hiring aggressively across data science, engineering, product, and design roles. The team is laser-focused on going fully self-serve by the end of the quarter to onboard a growing waitlist of 1000+ companies.