Bangalore: Topline, which provides sales software for product-based companies, has raised $15 million as part of its latest funding round led by Tiger Global and Sequoia Capital India.
Together Fund set up by Indian Software-as-a-Service (SaaS) founders; Several angel investors along with Sequoia India’s surge accelerator program also participated in the round.
The company said it will use the funds to deliver product roadmaps, and grow its data science, engineering, product and design teams.
Founded in June 2021 by Rishen Kapoor, Ruchin Kulkarni and Rohit Khanna, Topline analyzes a vast amount of product-usage data to identify users and accounts that have the highest intent to convert to paid subscriptions.
It enables development teams to rapidly experiment and drive conversions through in-product nudges such as chatbots, paywalls, promotions or sales-assisted conversions.
“It is an interesting time to become monetization software. SaaS multipliers are at an all-time low. Funding markets are drying up. Average Revenue Run Rate (ARR) is in vogue again. SaaS companies to switch to paid plans needs of its free users. Toplyne fills this gap by enabling businesses to monetize their product-based growth,” Kulkarni said.
The company raised $2.5 million as part of its seed round in November 2021. Since then, it has increased the workforce from 13 to 30 across all geographies.
“We are thrilled to see how the Toplyne team and product have shaped up in the first year of operations. Their integrated approach combining in-product vision and sales assisted conversions, said Sequoia India Managing Director, Ashish Aggarwal. resonating with.
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