SaaS Labs, cloud-based platform that builds productivity and business process automation software for SMBs and enterprises globally has raised USD 17 million in Series A funding from Base10 Partners and our India Ventures team.
The funds will be used to expand its customer base, hire team members globally, and invest in new products and services.
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.
Gaurav Sharma, Founder & CEO SaaS Labs said: “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.”
The company has been bootstrapped since its founding, growing the business to millions in annual recurring revenue and achieving profitability, while still managing to more than double year-over-year. This Series A marking its first initial investment from outside investors. 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 6000+ companies globally, including Divvy Homes, Jaguar, Ernst & Young, and Walmart.
Aditya Systla, Partner at Eight Roads Ventures commented, “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.”