SaaS Labs Raises $17 Mn In Series A Funding The funds will be used to expand its customer base, hire team members globally, and invest in new products and services
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SaaS Labs, a cloud-based platform that builds productivity and business process automation software for SMBs and enterprises globally, announced that it raised $17 million in Series A funding from Base 10 Partners and Eight Roads Ventures.
The company will use the funding to expand its customer base, hire, and release new products and services.
"We have seen an unprecedented acceleration of cloud adoption among SMBs in the last 12 months. I'm excited to partner with both Base10 Partners and Eight Roads Ventures to capitalize on new and bigger opportunities that this shift has brought forward. We are going to deploy this fresh capital into product development, R&D, and hiring talent globally. I could not be more grateful for our supportive customers and our incredibly talented team for all the success we have achieved in the recent past and excited about the future," said Gaurav Sharma, founder, and chief executive officer, SaaS Labs.
Founded in 2016 by Gaurav Sharma, the India-based company develops products for sales, support, and marketing teams as well as contact centers to enhance productivity. Call centers have traditionally been custom-built, on-premise solutions that required long implementation cycles and ongoing maintenance, with most of the inbound traffic telephone-based. Contact Center as a Service (CCaaS) software has opened the door to multiple high-speed, efficient forms of communication between enterprises and their customers. As a result, cloud-based contact centers are fast becoming mainstream.
"For companies across a variety of industries, business communications are critical for delivering a strong customer experience but remain a major challenge to manage at scale for inbound and outbound communication. SaaS Lab's modern, customizable communication system is particularly exciting for international sales and support calls that benefit from this customizability," noted Chris Zeoli, principal, Base10 Partners. "We're excited to be working with the SaaS Labs team as they continue to move upmarket and enable more enterprises to take advantage of the shift to cloud-based contact and telephony."
SaaS Labs currently has two main products: Justcall and Helpwise. JustCall allows SMBs to set up a cloud-based contact center for sales or support, within minutes with native integrations with over 70 other business tools. As an extension of this move towards centralized customer interactions, Helpwise allows users to consolidate all communication streams in a single shared inbox thereby improving the quality and efficiency of customer support teams.
"The rapid adoption of productivity-enhancing tools by businesses and the strong secular trends that are driving contact centers to the cloud, is becoming a theme that we believe has huge potential. SaaS Labs has grown significantly over the last few years and is well-positioned to serve the needs of the SMB segment, as they increasingly seek cloud-based solutions. The high quality of the product and Gaurav's vision to be a one-stop-shop for all SMB contact center needs will be the company's differentiating factor. We look forward to partnering with Gaurav and the team as they scale greater heights in the years ahead," added Aditya Systla, partner, Eight Roads Ventures.
The company has been growing the business to millions in annual recurring revenue and achieving profitability, while still managing to more than double year-over-year. With a 70-member team in India and the Philippines, SaaS Labs hopes to double headcount by the end of 2021. The company currently serves more than 6000 companies globally, including Divvy Homes, Jaguar, Ernst & Young, and Walmart.
