Toplyne raises $15M to help SaaS companies sell more

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California-based Topline, a startup that provides a platform for product-led companies to help improve their conversion rates, announced today that it has raised $ 15 million in a single round of funding.

Over the past decade or so, software-as-a-service (SaaS) has grown into a major market segment, growing from $ 31 billion in 2015 to $ 152 billion in 2021. Companies like Zoom are becoming leaders in the category but there are a lot of companies. More, lesser known players who are solving major challenges in all fields through software. They attract hundreds of thousands of users, raise VC money and scale their product on a continuous basis.

However, even with all the growth, one big problem continues to hurt most SaaS enterprises – conversions. Companies may attract users through their premium offerings, but are struggling to convert them into paid or premium customers. In fact, today, most hyper-growth led companies are witnessing conversion rates below 1-2%. This is not the best and has a big impact on revenue growth.

Toplyne identifies users to create targets

Found in 2021, Toplyne addresses this challenge by providing a tool that identifies which users are most likely to convert and shares that information directly with sales teams so they can act immediately.

The offer comes as a major upgrade to existing methods of conversion where internal teams make random calls to accounts or try to create their own tooling to identify people with strong conversion objectives. Both strategies take a lot of time and resources, especially in the latter case where data engineers and scientists have to come together to extract and convert product usage data, repeat on models and then coordinate insights from them with CRM.

“One of the easiest ways to visualize the topline is to finish your data (product usage, billing, support, etc.) and applications where it works. We have produced and generalized what is between the two ends of the stack, “said Ruchin Kulkarni, co-founder of the company.

The solution plugs directly into the analytics infrastructure (Snowflake, Amplitude or any other) and analyzes user cues such as product usage and payroll interaction to classify users into three groups – high-purpose users, low-purpose users. This information is then exported to the sales team’s CRM (Salesforce, Outreach, etc.), enabling them to convert those leads through timely intervention. They can use insights to run fast GTM experiments, such as individual calls with discounts for fence-sitters, and scale-based strategies.

How PLG Companies Use Toplyne to Increase Conversion Rates

Main customers

While Kulkarni, who was previously with Sequoia India, did not share specific growth figures, he noted that the company has participated in major SaaS players in the last few months, including Canvas, Invideo, Grafna, BrowserStack, Gathertown.

“Customers like InVideo use Toplyne to sync their hottest leads into their CRM system, from where the sales team drives conversions. They’ve seen a 1.8-fold increase in sales conversion rates since the topline went live, “he said.

The company’s co-founder also noted that PLG CRM, which depicts user travel through activity graphs (among other things), does not provide product-driven teams with this level of insight to help potential customers aggressively identify and sell them. In fact, the company claims that its objective models can identify 50% or more conversions by limiting search to the top 1-2% of the most intended users.

Plan ahead

With this round of funding, Toplyne will focus on expanding its team and delivering on the production roadmap. This includes launching a full self-service product for onboard weightlisted SaaS players within the next 3 months and scaling out key business tasks such as sales, growth, product marketing and customer success over the next few quarters.

According to Fortune Business Insights, the global SaaS market will exceed $ 700 billion by 2028. The enterprise can expect the development of more tools like this in the coming years.

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