SaaS Labs, a SaaS company that creates business automation tools for sales and support teams, has reportedly acquired USD 42 million in Series B round spearheaded by Sequoia Capital India, along with backing from existing investors Eight Roads Ventures and Base 10 Partners.

Anand Chandrasekaran, Allison Pickens, Amit Agarwal, and Michael Stoppelman are among the renowned Silicon Valley angel investors who participated in the round. The funds raised will be spent on R&D to develop new products for the company's global users and to scale already introduced products.

The company also acquired two startups Poland-based CallPage and France-based Atolia to enhance its product synergies while the two firms will benefit from the exposure to SaaS Labs’ global client base.

Gaurav Sharma founded SaaS Labs in 2016 to help fast-growing businesses connect to their customers by allowing sales and support teams to automate operations, save costs, and become more productive.

Sharma said they are certain that SaaS Labs will capitalize on this potential and grow 30x in the next 5-7 years as SMBs employ software to modernize several business processes such as support, sales, and marketing, among others.

SaaS Labs has also been developing AI-powered products to empower sales and support teams at smaller businesses for the past six years. These are no-code solutions, which eliminate the requirement for an IT team to deploy them. A firm can sign up for the platform for as little as USD 25 per month. The company now has over 6,000 customers globally.

The startup, which has been profitable for years, increased its sales by 2.5 times last year. Today, about 70% of these clients are headquartered in the United States, with 10% in the United Kingdom. HelloFresh, GoStudent, Grab, and Booksy are a few of its big customers.

Source Credit-

https://techcrunch.com/2022/01/19/saas-labs-raises-42-million-for-its-business-automation-platform-acquires-callpage-and-atolia/