US-based OnRamp, a company delivering seamless customer onboarding by automating and streamlining the post-sales process, has raised $14.2 million in funding.
Who invested in OnRamp?
The investment round was led by Javelin Venture Partners and Contour Venture Partners. These firms were joined by Pear VC, Quiet Capital, Correlation Ventures, Frontier Ventures, J Ventures and others, along with strategic individuals including Claire Hughes Johnson (Stripe), Steve Fredette (Toast), and Louis Beryl (Four Cities Capital).
Funds utilisation
The funding will be used to enhance the product’s automation and user-friendly capabilities, helping solve the challenge of guiding B2B customers smoothly through even the most complex post-sales processes.
“We see tremendous potential in OnRamp addressing an underserved market opportunity. The customer onboarding process is ripe for disruption, and OnRamp is transforming it through automation and user-friendly capabilities. By reducing lengthy onboarding times and improving customer engagement and visibility, OnRamp helps companies accelerate value, reduce costs, and protect revenue. This funding will enable OnRamp to build out a world-class sales and marketing team,” said Noah Doyle, Managing Director at Javelin Venture Partners.
What challenge does it address?
Customer onboarding is one of the most challenging obstacles to revenue faced by organisations of all sizes. Countless businesses book revenue they can’t recognise because their onboarding processes are too slow or broken.
OnRamp breaks through those bottlenecks while providing an elevated experience for customers that dramatically improves customer satisfaction.
What does OnRamp do?
Founded in 2020 by Paul Holder and Ross Lerner, OnRamp offers a customer onboarding platform dedicated to helping B2B companies accelerate revenue growth. By automating and streamlining the post-sales process, OnRamp ensures that new customers can easily navigate the most complex onboarding process.
It has tripled its revenue each of the past three years and is on track to triple revenue again this year. The company has helped its customers accelerate revenue recognition of millions of dollars while allowing onboarding teams to scale their reach at flat headcount.
“Onboarding and creating a great first impression are the most critical aspects of the customer lifecycle,” said Paul Holder, OnRamp’s co-founder and CEO. “Having spent 10 years leading onboarding and Customer Success teams at high-growth companies, I’ve seen first-hand how the tools available today are incredibly limited and don’t drive positive interactions. The market has long needed a solution like OnRamp. Together with our fantastic team, we’ve now made that vision a reality.”
Customer base
OnRamp already counts three of the Fortune 15 as its marquee customers. As per the company, customers have seen up to 70% faster onboarding using this platform.
ParkHub, for example, is leveraging OnRamp’s no-code customer portal to help automate complex workflows while maintaining operational efficiency
at scale. “With OnRamp, the time it takes our onboarding team to get new customers from signed agreement to launch has declined significantly,” said Lance Walton, Head of Customer Success at ParkHub. “As we scale, these advances and the increased standardisation we’ve achieved have a major impact on our business.”
What do we think about OnRamp?
It is poised for significant growth as it addresses critical onboarding challenges with its automated platform. With recent funding, the company is set to enhance its product, scale its sales and marketing efforts, and maintain its impressive revenue trajectory.
By simplifying complex post-sales processes, OnRamp is likely to attract more major clients, boosting customer satisfaction and accelerating revenue recognition for businesses across various industries.
