Contact Centre Software Startup SaaS Labs Raises $42 Mn To Launch Innovative Products

Delhi-NCR and Palo Alto-based contact centre software startup SaaS Labs has raised $42 Mn in a Series B funding round led by Sequoia Capital India. 

Base 10 Partners and Eight Roads Ventures also participated in the round along with angel investors Amit Agarwal, Allison Pickens, Anand Chandrasekaran, and Michael Stoppelman.

The startup plans to utilise the raised capital in hiring good talent globally, launch innovative products, focus on brand marketing and get aggressive with strategic M&As.

Founded by Gaurav Sharma in 2016, SaaS Labs offers business automation tools for sales and support teams. Its current suite includes three products:

• Justcall: A cloud phone system that integrates over 70 business tools and enables contact centres for sales and support
• CallRoot: A cloud-based analytics app for marketing teams that can track and record calls and integrate it with other marketing tools for insights
• Helpwise: A shared inbox software for collaboration across multiple teams that consolidates all communication streams to increase efficiency

SaaS Labs is a 100% remote startup that builds these products with other remote workforces in mind, especially its Contact Centre as a Service product. The startup has its eyes set on the European market and has marked its entry there with two acquisitions:

• CallPage: A Poland-based call automation tool startup that allows sales teams to connect with their lead 
• Atolia: A France-based productivity, communication and collaboration workspace tool startup

These two products will be integrated into SaaS Labs’ product and the teams working at the respective startups will join as full-time employees at the acquiring startup. 

“While we are well-capitalised, this round gives us the firepower needed to double down on what’s working, hire great talent globally, launch innovative products, focus on brand marketing and get aggressive with strategic M&As,” said Gaurav Sharma, founder & CEO, SaaS Labs. 

“As SMBs will continue to adopt software to modernise different functions like sales, support, marketing, etc. within their business, we are confident that SaaS Labs will be able to capture that opportunity and grow 30x in the coming 5-7 years,” he added. 

The global contact centre software market size was projected to grow from $24.1 Bn in 2020 to $75.5 Bn by 2026 at a CAGR of 20.9% during the forecast period. 

The rising adoption of advanced contact centre technologies, the need to handle attrition and absenteeism within support teams and the emerging role of social media are expected to contribute to this growth.

Ozonetel, a Hyderabad and San Francisco-based on-demand cloud communication services startup had raised $5 Mn in a Series A funding round last year. 

Update | 21st Jan, 13:00

The previous version of the headline had a typo in the funding amount, the same has been fixed to reflect the right amount.

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