SaaS Labs raises USD 17 Mn in Series A funding to expand product suite

There has been an upsurge in the number of startups and businesses leveraging funding rounds to achieve a milestone and build capital. One such startup, SaaS Labs, has reportedly secured USD 17 million in Series A funding round from Eight Roads Ventures and Base 10 Partners.

This is the first institutional funding raised by the bootstrapped business, which operates out of India and the Philippines. The firm will use the funds to increase its customer base, hire more employees, and launch new goods and services, sources cited.

Notably, SaaS Labs was founded by Gaurav Sharma back in 2016 to increase productivity in sales, support, marketing teams, and contact centers. Two of the company’s primary products are Justcall and Helpwise.

Small and medium businesses (SMBs) can use Justcall to set up a cloud-based contact center for sales or support in minutes, with native interfaces to over 70 additional business tools. Meanwhile, Helpwise users can combine all communication streams into a single shared inbox to improve the productivity of the customer support team.

Since the past year, the company claims to have observed a surge in SMB cloud adoption. SaaS Labs will use the fresh funds towards product development, R&D, and employing better talent, the founder Gaurav Sharma claimed.

Chris Zeoli, a Principal at Base10 Partners, mentioned SaaS Labs' modern, customizable communication solution is particularly intriguing for foreign sales and support conversations that benefit from this personalized solution.

Aditya Systla, a Partner at Eight Roads Ventures, said that the swift adoption of productivity-enhancing solutions by organizations and the key trends driving contact centers to the cloud has been gaining significant popularity and have huge potential.

For the uninitiated, Base10 Partners is an early-stage venture capital business which is based in San Francisco. Meanwhile, Eight Roads Ventures has been investing in India since 2007, with over USD 1 billion in assets currently under management.

Source Credit-

https://www.vccircle.com/cloud-based-platform-saas-labs-raises-funds-from-base10-eight-roads-ventures