Sales Automation SaaS platform LeadSquared Joins the Unicorn Club The Bengaluru-based startup has secured an investment of $153 Mn from WestBridge Capital in a Series C funding round
By S Shanthi •
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Bengaluru-based Sales Automation SaaS platform, LeadSquared announced today that it has secured an investment of $153mn from WestBridge Capital, in a Series C funding round.
The startup was founded by Nilesh Patel, Prashant Singh, and Sudhakar Gorti in 2011. It aims to to make high-velocity sales execution software a growth engine for companies all over the world.
"We are grateful for the support of our investors as we strive to build LeadSquared into a globally significant business. With this financing, we will double down on growth investments in India and North America, start building in APAC and EMEA, add new offerings to our product portfolio, and fund acquisitions. To support our growth, we plan to double our headcount in the next 18 months," shared Nilesh Patel, CEO and founder, LeadSquared.
"LeadSquared has shown a remarkable ability to scale and grow efficiently. Its core SaaS metrics are unique and best-in-class in the industry. Its focus on building an easy-to-use platform that transforms sales processes through automation delivering unparalleled efficiency, has significant potential for growth in the global market. Future of LeadSquared is very exciting to us and we look forward to a long partnership with the company," said Sumir Chadha, co-founder and managing director, WestBridge Capital.
LeadSquared has more than 2,000 customers, including high-growth organizations from edtech, higher education, financial services, healthcare, marketplaces, and more.
The startup claims that its USP is its end-to-end efficiency platform for all the teams involved in the customer journey – including marketing, call center, inside sales, field sales, and other feet-on-street teams, that include verifications, collections, vendor onboarding, and more.
"LeadSquared is fast emerging as a category leader in high-velocity sales execution software. Nilesh and the team have built a strong platform with robust unit economics. With this round, the company has the balance sheet strength to further invest for growth in India as well as international markets, especially the US. We look forward to LeadSquared being the engine of growth for ambitious companies in India and around the world," said Gaja Capital's Managing Partner, Gopal Jain.
Some of the newer product releases of Leadsquared include the launch of sales performance analytics and a suite of tools to digitize application processing (an important process for finance and education); its constantly growing Developer Platform, and its no-code workflow builder, which has found great adoption among customers. LeadSquared had previously raised $32mn led by Gaja Capital in 2020, and USD $3mn during its Series A led by Stakeboat Capital in 2019.
