[Funding alert] SaaS platform Toplyne raises $15 mn in funding

Toplyne, a SaaS based Startup has raised $15 million in its Series A funding round from Tiger Global Management and Sequoia Capital India.

Existing investors Together Fund, Sequoia India’s Surge, and angel investors from Canva, Vercel , and Zoominfo also participated in this round.

The startup plans to use the funds to aggressively deliver on the product roadmap and scale data science, engineering, product and design teams.

San Francisco and Bengaluru-based Toplyne was founded in June 2021 by Rishen Kapoor and Ruchin Kulkarni, It enables companies to monetize their product-based growth flywheel by increasing conversions within their freemium user base.

“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”, Said, Ruchin Kulkarni, Co-founder at Toplyne.

The company claims that it is committed to becoming a one-stop shop for Product-Based Development (PLG) businesses to solve their monetization problems.

Its plug-and-play product reportedly integrates seamlessly into existing CRMs (Salesforce, HubSpot), product engagement platforms (Brazil) and product analytics infrastructure (Amplitudes, Segments) within minutes.

“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 of Sequoia India.

Toplyne is looking to launch a self-serve freemium product within the next quarter to add more than 1,000 customers to its waiting list.

In November 2021, Toplyne had raised $2.5 million in a seed funding round from Sequoia Capital India’s accelerator program Surge, Together Fund, and angel investors from Canva, Freshworks, and Zoominfo.

About Toplyne

Toplyne helps sales teams at product-led companies convert their freemium users! Within minutes. No engineering, no code!