This is the first institutional capital raising by the bootstrapped startup, which operates out of India and the Philippines.
The company 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.
“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,” said Gaurav Sharma, founder and CEO of SaaS Labs.
Founded in 2016, SaaS Labs develops products for sales, support and marketing teams as well as contact centre to enhance productivity.
“Call centres 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 Centre as a Service (CCaaS) software has opened the door to multiple high speed, efficient forms of communication between enterprises and their customers,” the company said. “As a result, cloud-based contact centre are fast-becoming mainstream.”
SaaS Labs, through its product Justcall, 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.
“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,” said Chris Zeoli, principal, Base10 Partners.
SaaS Labs counts companies such as Divvy Homes, Ernst & Young and Walmart among its list of clients.
“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.