SaaS platform has secured $15 million to aggressively deliver on the product roadmap, and scale the data science, engineering, product, and design teams.
Founded in June 2021 by Rishen Kapoor and Ruchin Kulkarni, who were earlier with Sequoia India, and Rohit Khanna, the former VP-Product at , Toplyne enables companies to monetise their product-led growth flywheel by increasing conversions within their freemium user base.
In a statement, the San Francisco and Bengaluru-based startup announced that it will use the funding to aggressively deliver on the product roadmap and grow its market presence.
“We are thrilled to see how the Toplyne team and product has shaped up in the first year of operations. Their unified approach combining in-product nudges and sales assisted conversions is resonating strongly with customers,” said Ashish Agrawal, MD, Sequoia India.
Toplyne aims to onboard 1000 new customers by the next Quarter
SaaS is evergreen. We’re fortunate to be in a market that will roughly grow 30% YoY forever. Taking this compounding worldview into account, simple math dictates that 99% of our future customers haven’t been born yet. We want to catch ‘em young.
Ruchin Kulkarni, Co-founder at Toplyne, said, “It’s an interesting time to be a monetisation software. SaaS multiples are at all-time lows. Funding markets are drying up. ARR is back in vogue. PLG SaaS companies need their free users to convert to paid plans. Toplyne fills this gap by enabling businesses to monetise their PLG.”
The startup claims that it is committed to becoming a one-stop shop for product-led growth (PLG) businesses to solve their monetisation problems. Its plug-and-play product allegedly integrates into existing CRMs (Salesforce, Hubspot), product engagement platforms (Braze) and product analytics infrastructures (Amplitude, Segment) seamlessly and within minutes.
Toplyne focus will be on a few key areas to augment its growth
- Building our own PLG motion
- Executing our long term product roadmap
- Scaling our content engine
- Building growth communities
- Setting up our GTM team. Sales, growth, product marketing, you name it.
- SKUNKWORKS 🦨 making progress towards our real hidden ambition
Toplyne previously raised $2.5 million in a seed round in November 2021. Since then, it has gained several customers like Canva, Grafana, Gather.Town, InVideo, and BrowserStack.
The startup aims to launch a self-serve freemium product within the next quarter to onboard a waitlist of more than 1,000 customers. Its workforce has also grown from 13 to 30 employees.
The Series A round was led by Tiger Global Management and Sequoia Capital India, with participation from existing investors , Sequoia India’s Surge, and angel investors from , , and Zoominfo.
