SaaS Labs recently announced that the company has raised $17 million in Series A funding from Base 10 Partners and Eight Roads Ventures. This will be the first institutional capital raising by the bootstrapped startup operating out of India and the Philippines.
The cloud-based platform that builds productivity and business process automation software for enterprises will use the funds to expand its customer base, hire people, and release new products and services, it said in a statement. The company is looking to double its 70-member team by the end of this year.
Founded in 2016, SaaS Labs develops products for sales, support and marketing teams as well as contact centres to enhance productivity.
“We have seen an unprecedented acceleration of cloud adoption among SMBs in the last 12 months. We are going to deploy this fresh capital into product development, R&D and hiring talent globally. Call centres have traditionally been custom-built, on-premise solutions requiring long implementation cycles and ongoing maintenance, with most inbound traffic telephone-based. Contact Centre 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 centres are fast-becoming mainstream,” said Gaurav Sharma, Founder and CEO of SaaS Labs.
Chris Zeoli, principal, Base10 Partners, said, “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 Labs’ modern, customizable communication system is particularly exciting for international sales and support calls that benefit from this customizability”.
“The rapid adoption of productivity-enhancing tools by businesses and the strong secular trends that are driving contact centres 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,” said Aditya Systla, partner at Eight Roads Ventures.
Through its product Justcall, SaaS Labs allows small and medium businesses (SMBs) to set up a cloud-based contact centre for sales or support within minutes. It has native integrations with over 70 other business tools. Its other product, Helpwise, allows users to consolidate all communication streams in a single shared inbox, improving the quality and efficiency of customer support teams.
SaaS Labs counts companies such as Divvy Homes, Ernst & Young and Walmart among its list of clients.