Software-as-a-Service (SaaS) Startup Toplyne Raises $15 Million (Approx. 115 crore) in a funding round led by Tiger Global and Sequoia Capital India.
Existing investors Together Fund, Sequoia India’s Surge and angel investors from Canva, Versailles and ZoomInfo also participated in the funding round.
The company said it will use the funds to aggressively deliver on the product roadmap and scale data science, engineering, product and design teams.
The company has more than doubled from 13 to 30 employees across geographies since the last round of funding. Toplyne raised $2.5 million in a seed round in November 2021.
“This is an interesting time for monetization software to become a reality. SaaS (software-as-a-service) multipliers are at an all-time low. Funding markets are drying up. Product-based development allows SaaS companies to offer their free users to their paid plans.” Toplyne fills this gap by enabling businesses to monetize their product-based growth,” said Ruchin Kulkarni, Co-Founder, Toplyne.
“We believe Topline has a shot at being a global leader in this emerging category and the team at Sequoia Capital India is excited to deepen the partnership with them,” said Ashish Agarwal, Managing Director, Sequoia India.