Asana has reported softer billings growth, net revenue retention below 100%, and an extended customer acquisition cost payback period, raising concerns about customer demand and retention. The combination of weaker expansion from existing customers and slower returns on sales and marketing spend suggests growth investments are taking longer than expected to generate recurring revenue. In February 2026, Asana increased its share repurchase authorisation to $410 million, a move that raises questions about capital allocation between shareholder returns and funding product innovation crucial for future growth. The company's narrative projects $1 billion revenue and $114.5 million earnings by 2029, requiring 8.3% annual revenue growth. Some analysts had already assumed conservative growth of 8.4% annually with no profitability by 2028, and recent retention challenges could push forecasts lower.

Indian startup Rocketlane raises $60m series C. Rocketlane is a Chennai-based automation software firm, and it raised US$60 million in a series C led by Insight Partners to bring total funding to US$105 million. The company previously raised US$24 million in 2024 in a series B co-led by 8VC, Matrix Partners India, and Nexus Venture Partners. The fund will be used to build more AI agents for its Nitro product and to expand enterprise go-to-market efforts. The company serves over 750 customers, including Intercom, Glean, and Notion. Food for thought. Implications, context, and why it matters. Rocketlane's rapid growth comes from a simple per-seat subscription plan. * Rocketlane reported 500 paying customers worldwide at its June 2024 Series B announcement, then said it serves more than 750 customers 1. * It charges per seat, with published plans from $19 to $99 per user per month when billed annually, plus a five-person minimum on listed tiers 2. * Nitro, its new AI product, sits on a separate add-on tier with published pricing up to $109 per team member per month when billed annually 2. The funding backs a move from AI copilots to autonomous agents in business software. * The investment supports a shift past basic AI helpers toward 'agentic' systems, which are AI tools that can run specialized work on their own such as staffing projects or enforcing time-tracking rules 3. * Rocketlane says Nitro uses AI agents inside project workflows that can spot risks, rebalance resources, and finish repeatable tasks, plus it claims professional services teams can cut delivery effort by up to 50% 4. * Rocketlane says it competes with professional services automation (PSA) platforms such as Kantata, plus project management tools such as Asana and Monday.com 1. How would you feel if you could no longer use Tech in Asia? Share, tag us, and land on our Wall of!

Asana has announced CFO Sonalee Parekh will step down after less than two years, with Aziz Megji, head of financial planning and analysis, promoted to replace her effective 24 March. Parekh tendered her resignation on 26 February, with the company stating there were no disagreements and her departure was unrelated to operations or accounting practices. Megji, 44, joined Asana in December 2024 and previously held senior finance roles at RingCentral, NVIDIA and Hewlett Packard Enterprise. He will receive a $600,000 annual base salary and be eligible for a 35% target bonus. The San Francisco-based work management platform reported fourth-quarter revenues of $205.6 million, up 9% year over year, with GAAP net loss narrowing to $32.2 million.