Rocketlane, a Chennai-based agentic professional services automation (PSA) platform, has raised $60M in Series C funding led by Insight Partners. The platform unifies projects, people, finances, and customer experience through AI agents like Nitro to automate execution, governance, and risk detection. The capital will fuel Nitro platform development, global expansion with new offices in London, New York, and San Francisco, executive hires, and marketing.
AI Agents Heat Up PSA Competition
The round arrives as AI integration accelerates in PSA tools. GUIDEcx raised $35M previously, focusing on onboarding, while Kantata secured $50M+ for enterprise resource management. Rocketlane differentiates with agentic AI for full execution, not just tracking, addressing mid-market needs for collaborative delivery. Competitors like Kantata launched AI resourcing agents in late 2025.
Utilization Dips to 19-Year Low
Billable utilization in professional services hit 66.4%, its lowest in 19 years, per Rocketlane's 2026 Professional Services Maturity Benchmark surveying 500+ firms. PS firms lose 5-10% revenue without PSA tools, wasting up to 20% of skilled time. Legacy solutions rely on spreadsheets and manual processes, failing to scale amid complex AI deployments.
Nitro Agents Automate Delivery Execution
Rocketlane's Nitro introduces AI agents for project planning, risk prediction, and workflows, shifting PSA from tracking to autonomous execution. Unlike GUIDEcx's onboarding focus or Kantata's financial emphasis, Nitro embeds client collaboration and consumption-based pricing. Customers like Vercel and Coursera report 85% utilization and faster implementations.
As CEO Srikrishnan Ganesan told Moneycontrol:
"Every SaaS company has either become or is becoming an AI company… bridging the gap happens through professional services."
Insight Partners Signals Scale-Up Bet
Insight Partners, managing $90B+ AUM with exits like monday.com IPO, leads the round, bringing total funding to $105M. The firm's focus on AI-integrated SaaS and operations matches Rocketlane's pivot to agentic platforms, similar to portfolio companies Writer and CrewAI. This upgrade from prior India/US VCs positions Rocketlane for IPO trajectory.
Apoorva Goyal, Principal at Insight Partners, noted:
"Professional services teams are crucial engines of enterprise software… Rocketlane's AI-first platform enables… scale without scaling headcount."
PSA Market Grows to $40B by 2033
The professional services automation market stands at $12.40B in 2024, projected to reach $40.25B by 2033 at 14.7% CAGR, driven by AI adoption in services. Another estimate pegs it at $16.5B with 15% CAGR. Trends favor agentic tools amid services-led growth for enterprise AI, where PS proves ROI on complex migrations.
Founders Bring Freshworks Exit Expertise
Co-founders Srikrishnan Ganesan and Deepak Bala previously co-founded Konotor, acquired by Freshworks in 2015. Ganesan led Freshchat development post-acquisition, while Bala handled engineering at scale. Their customer engagement background directly informs Rocketlane's client onboarding focus, complemented by hires like ex-Clarizen CMO.
Global Expansion Powers Nitro Growth
Rocketlane plans R&D investment in Nitro, executive hires, and team scaling across new London, NY, and SF offices. Revenue has doubled, with deal sizes up 4.5x since 2023. The company hosts Propel26 in May 2026, targeting 500+ PS leaders, and eyes strategic M&A.