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BENGALURU : Software-as-a-service (SaaS) platform Toplyne on Tuesday said it has raised $2.5 million in fresh funding from Sequoia Capital India’s accelerator programme Surge, Together Fund, and angel investors from Canva, Freshworks, and Zoominfo.

Founded in June 2021, Toplyne is a SaaS platform that enables product-led growth (PLG) companies to increase their freemium user conversion rates.

The plug-and-play platform enables sales teams at PLG companies to identify and focus on the users and accounts that are most likely to convert. Toplyne does so by analyzing user behaviours within a product and determining which users have shown high intent to buy.

“Every decade, there has been a fundamental evolution in SaaS go-to-market strategy. The 2000s were the decade of the sales-led motion. The 2010s saw the evolution of inbound marketing as the default. We’re at the cusp of the third evolution in SaaS GTM strategy, and product-led growth (PLG) is going to be the default motion of the future," said Ruchin Kulkarni, co-founder at Toplyne.

Founded by former investment advisers at Sequoia India, Toplyne team spent several months speaking with hundreds of revenue leaders at PLG companies across the spectrum—starting with early-stage companies and going all the way up to public market giants.

“After speaking with hundreds of PLG companies, we realized most companies were flying blind. Moreover, even the very best had spent several quarters (if not years) and hundreds of thousands of dollars building complex internal tools which at the end of the day didn’t get the job done“ said Rishen Kapoor, co-founder and chief executive officer (CEO) at Toplyne.

Within just three months of product launch, Toplyne is already being used by over 10 leading SaaS companies across early to pre-IPO stage companies.

“Our product’s first version went live on Day 30 of the company’s existence when we onboarded our first customer—InVideo. When we saw their sales conversion rate double in just a few days, we knew we were onto something." said Rohit Khanna, co-founder at Toplyne and former vice president of product at Clevertap.

Toplyne is also backed by several prominent angel investors, including Cred founder Kunal Shah; Razorpay founders Shashank Kumar and Harshil Mathur (Razorpay); Unacademy co-founder Gaurav Munjal, and ZoomInfo chief executive Arjun Pillai.

"Founders and builders of product-led growth companies face the challenge of sales prioritization every day. Zeroing in on users who are most likely to pay is key to future-proofing your success. The Toplyne team’s experience in this sector, both as investors and entrepreneurs, convinced us that they’re the right team to solve this problem, and we're thrilled that Together Fund can help them scale." said Girish Mathrubootham, chief executive officer and founder, Nasdaq-listed Freshworks.

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