Rishen Kapoor rejoins Peak XV after Toplyne shutdown

Rishen Kapoor, co-founder and CEO of the SaaS startup Toplyne, has returned to Peak XV Partners (formerly Sequoia Capital India & SEA) after his three-and-a-half-year-old venture shut down.

In October 2024, Toplyne closed its operations and returned funds to its investors.

“Building Toplyne was rewarding but challenging. We worked with amazing customers and teammates but ultimately decided to wind down the business. The lessons from that journey will stay with me,” said Kapoor via a LinkedIn post.

Toplyne was a platform designed to help sales teams at product-led growth companies convert free users into paying customers. It provided actionable insights integrated directly into products, helping businesses improve their lead conversion rates. The company was founded by Kapoor, Ruchin Kulkarni, and Rohit Khanna.

Before the shutdown, Toplyne raised more than $17 million from investors like Peak XV, Tiger Global, Surge, Together Fund, and angel investors such as Kunal Shah and Harshil Mathur.