SaaS Labs Secures $17 Million in Investment Funds

Business automation software startup Saas Labs recently revealed it raised $17 million in new funding after completing its Series A investment round.

SaaS (News - Alert) was founded just five years ago, and is heavily focused on offering productivity enhancements for areas including sales, marketing, and customer/contact center support. The company has gained popularity for its two primary offerings, JustCall and HelpWise. JustCall is a cloud-based contact center deployment, while HelpWise is a communications tool designed to consolidate conversations into a single source.

While SaaS did not provide the specific financial data related to this latest funding round, the bulk of this  investment was from Base 10 Partners and Eight Rounds Ventures. Representatives with SaaS have reported that the company is currently profitable, and has experienced impressive growth over the last year alone.

“We have seen an unprecedented acceleration of cloud adoption among SMBs in the last 12 months. I’m excited to partner with both Base10 Partners and Eight Roads Ventures to capitalize on new and bigger opportunities that this shift has brought forward. We are going to deploy this fresh capital into product development, research and development (R&D) and hiring talent globally," said Gaurav Sharma, founder and chief executive officer, SaaS Labs.

Saas currently has a staff of 70 employees with operations in both India and The Philippines. The company hopes to use these new funds to double its staff and continue business development.

“The rapid adoption of productivity enhancing tools by businesses and the strong secular trends that are driving contact centers 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.

Edited by Maurice Nagle