Bengaluru based sales automation SaaS platform, LeadSquared has raised $32 million in Series-B funding led by Gaja Capital. Existing investors – Stakeboat Capital and Jyoti Bansal also participated in this round, the largest for the company. EY is the transaction advisor involved with the deal.
Founded in 2011 by Nilesh Patel, Prashant Singh, and Sudhakar Gorti, LeadSquared is a complete sales execution, marketing automation & field force management platform. It focuses on influencing customer journeys and driving efficiency from every sales touchpoint, team and channel.
LeadSquared plans to utilize the funds for global expansion and continued product innovation in industries beyond education, financial services, and healthcare. Talent acquisition to match the level of growth will also be a key focus in the coming years.
Commenting on this milestone, Nilesh Patel, CEO, LeadSquared, said, “The funding comes at the right time, and we feel fortunate that our vision to transform sales tech is shared by our investors. We want to take our solutions to newer markets and fuel our global plans into action now. We have seen a step-change in interest from North America and South-East Asia markets, as customers drive digital transformation in response to the pandemic outbreak. We have been successful working with global resellers and partners and will focus further on international partner associations with the new funds.”
“We are excited to be a part of LeadSquared’s quest for global significance,” says Gopal Jain, Managing Partner from Gaja Capital. “Indian IT industry has matured from providing services to delivering best-in-class SaaS products to the world. LeadSquared’s exceptional success across business segments in India and consistent global growth demonstrates the trust that their customers have placed in them. We look forward to working with the team to help them achieve their vision of reimagining high-velocity sales tech.”
Chandrasekar Kandasamy, Managing Partner, Stakeboat Capital said, "Going by LeadSquared’s performance, we can affirm that our decision to associate with the company was a great one. Their innovative solutions coupled with an expert team are their USP. We look forward to supporting them in this next phase of their growth.”
With over 1000 customers globally, LeadSquared continues to see 100 percent revenue growth every year. It has found great fitment with industries like EdTech, Higher Education, Financial Services, Healthcare, Tech Marketplaces and more. Some of its marquee customers include - BYJU’S, Acko, Amity University, OLX, Dunzo, Practo being a few.
The venture claims its USP is its end-to-end efficiency platform for all the teams involved in the customer journey – including marketing, call centre, inside sales, field sales, and other feet-on-street teams (verifications, collections, vendor onboarding and more).
LeadSquared had previously raised $3 Million during its Series-A led by Stakeboat Capital in 2019.
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