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SaaS Labs Completes $42 Million Funding Round for SME Customer Support Tool
Software-as-a-service (SaaS) startup SaaS Labs, an Uttar Pradesh, India-based startup, is in growth mode, looking to expand its sales and support automation platform. Last week, the company announced it raised $42 million after completing a new financing round, which comes only a few months after SaaS Labs received $18 million in Series A funding.
In addition, SaaS Labs acquired two startups in an effort to aggressively grow its automation platform that serves sales and support teams at small and medium-sized businesses (SMBs).
SaaS Labs was founded by serial entrepreneur Gaurav Sharma, who sold his previous venture, called HelloSociety, to The New York Times. Sharma’s goal was to build a tool for SMBs similar to sales and support automation tools available to large enterprises.
“SMBs are very underloved and underserved if you look at the software offerings they have at their fingertips,” Sharma told TechCrunch in an interview. Enterprises, in comparison, “have access to awesome tools to improve the productivity of their agents,” he said.
For the last six years, SaaS Labs has been building AI-powered tools that are “equally powerful” to empower sales and support teams at smaller firms. These offerings are no-code solutions, removing the need of having an IT team to deploy them.
“These tools are also very affordable and integrate seamlessly with other business stacks and on-premise hardware solutions that small businesses rely on,” said Sharma in the TechCrunch interview.
SaaS’s flagship product is a tool called JustCall, which integrates with over 100 other business tools to enable advanced customer support, sales and CRM.
Sequoia Capital India led SaaS Labs’ Series B round. Base 10 Partners and Eight Roads Ventures, two existing backers, as well as entrepreneurs Anand Chandrasekaran, Allison Pickens, Michael Stoppelman and Amit Agarwal participated in the round. The new deals brought the company's total funding raised to $73.2 million over three rounds.
Edited by Luke Bellos