Predict your next investment

Angel Investor (Individual)
mike.stoppelman.com

See what CB Insights has to offer

Investments

18

Portfolio Exits

2

About Michael Stoppelman

Michael Stoppelman is a software engineer at Yelp.

Michael Stoppelman Headquarters Location

San Francisco, California,

United States

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Michael Stoppelman News

SaaS Labs raises $42 million for its business automation platform, acquires CallPage and Atolia

Jan 20, 2022

SaaS Labs has raised $42 million in a new financing round, less than three months after closing its previous funding, and acquired two startups as it looks to aggressively grow its automation platform that serves sales and support teams at small and medium-sized businesses. Base 10 Partners and Eight Roads Ventures, two existing backers, as well as entrepreneurs Anand Chandrasekaran, Allison Pickens, Michael Stoppelman, and Amit Agarwal participated in the round. The new funding follows California and Noida-headquartered startup’s $18 million Series A raise in October. For big businesses and enterprises, scores of tools exist to bring more efficiency in their sales and support operations. But the same isn’t true of small and medium-sized businesses. That was the learning Gaurav Sharma walked away with at his previous venture, called HelloSociety, in the US. (The firm was acquired by The New York Times.) “SMBs are very underloved and underserved if you look at the software offerings they have at their fingertips,” he told TechCrunch in an interview. Enterprises, in comparison, “have access to awesome tools to improve the productivity of their agents,” he said. For the last six years, SaaS Labs has been building AI-powered tools that are “equally powerful” to empower sales and support teams at smaller firms. These offerings are no-code solutions, removing the need of having an IT team to deploy it. “These tools are also very affordable and integrate seamlessly with other business stacks and on-premise hardware solutions that small businesses rely on,” he said. The challenge over 15 million sales and support agents face today is that they have to manually update their call logs and CRM tools that are not designed to offer real-time updates to their managers. This creates a gap in their communication channels, where no intervention can happen in real-time. Dashboard of JustCall, a SaaS Labs offering that allows SMBs to set up a cloud-based contact center for sales or support teams within minutes. (Image credits: SaaS Labs) “Chaos starts happening when you’ve a five-person team that is doing customer communication. So these teams can use our offering called JustCall.io, for instance, which integrates with over 100 other business tools. JustCall, which has a database of over 100 million calls to work through, uses machine learning to access the quality of the calls and whether the playbook or workflow is being followed. Managers then can only looks at the calls that have been poorly graded instead of trying to sift through every call,” he said. The startup has amassed over 6,000 customers globally. It typically sees a small business join the platform by paying as little as $25 a month and overtime happily move to paying tens of thousands of dollars annually as their businesses grow. Over 70% of these customers are based in the U.S. today, and 10% in the UK. Some of its customers include Grab, GoStudent, Booksy, HelloFresh. The startup, which has been profitable for years, said it grew its revenue by 2.5 times last year. On Thursday, it also announced two acquisitions – Poland-based CallPage, a callback automation tool for sales teams to connect with their leads instantly, and France-based Atolia, a productivity and collaboration tool. (Their teams will join Saas Labs as full-time employees.) Sharma said these acquisitions are helping SaaS Labs broaden its product offerings and also deepen its footprints in various markets. A portion of the new funds will be deployed to acquire many more startups, said Sharma. “While we are well-capitalized, this round gives us the firepower needed to double down on what’s working, hire great talent globally, launch innovative products, focus on brand marketing and get aggressive with strategic M&As. As SMBs continue to adopt software to modernize different functions like sales, support, and marketing, etc. within their business, we are confident that SaaS Labs will be able to capture that opportunity and grow 30x in the coming 5-7 years.” He is looking to take SaaS Labs public within the next four to five years, he said. “SaaS Labs is building a multi-channel customer communication platform for small and medium businesses. Through a suite of products, it offers an experience that marries the efficiency of digital and the intimacy of offline communication channels,” said Tejashwi Sharma, MD at Sequoia Capital India, in a statement. “Its flagship product JustCall, for example, has been able to drive deep impact. Customers, on average, reported time savings of 12 hours a week per agent on manual tasks while customer satisfaction improved by 30%. Sequoia Capital India is thrilled to partner with Gaurav and the team as they build the future of customer communication,” he added.

Michael Stoppelman Investments

18 Investments

Michael Stoppelman has made 18 investments. Their latest investment was in Element5 as part of their Series B on May 5, 2022.

CBI Logo

Michael Stoppelman Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/3/2022

Series B

Element5

$30M

Yes

2

11/9/2021

Series B

JustCall

$42M

Yes

4

8/24/2021

Seed VC

Tango

$5.7M

Yes

8

6/3/2021

Series A

Subscribe to see more

$99M

Subscribe to see more

10

7/20/2020

Series A

Subscribe to see more

$99M

Subscribe to see more

10

Date

5/3/2022

11/9/2021

8/24/2021

6/3/2021

7/20/2020

Round

Series B

Series B

Seed VC

Series A

Series A

Company

Element5

JustCall

Tango

Subscribe to see more

Subscribe to see more

Amount

$30M

$42M

$5.7M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

4

8

10

10

Michael Stoppelman Portfolio Exits

2 Portfolio Exits

Michael Stoppelman has 2 portfolio exits. Their latest portfolio exit was Wish on December 16, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/16/2020

IPO

$99M

Public

40

1/27/2017

Merger

Subscribe to see more

$99M

Subscribe to see more

10

Date

12/16/2020

1/27/2017

Exit

IPO

Merger

Companies

Subscribe to see more

Valuation

$99M

$99M

Acquirer

Public

Subscribe to see more

Sources

40

10

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.