LeadSquared, a Bengaluru-based provider of sales automation software as a service (SaaS), has become a unicorn club member after raising USD 153 million from WestBridge Capital as part of its Series C fundraising round on June 21st, 2022.
Even as worries about funding and the increasing number of industry layoffs grow, the business is the 103rd startup in India to be valued at USD 1 billion or more.
After only one business in the nation achieved the coveted designation (of a unicorn) in April and May, LeadSquared joined edtech company PhysicsWallah and online beauty goods marketplace Purplle to become the third unicorn in June.
What the founders have to say:
LeadSquared’s founder and chief executive officer, Nilesh Patel:
“We will begin construction in APAC and EMEA, expand our product line, and finance acquisitions. In the upcoming 18 months, we intend to quadruple our staff in order to support our growth.”
According to Patel, the business would also put more money into its current markets—North America and India—in order to thrive there.
What the investors have to say:
Co-founder and MD at WestBridge Capital, Sumir Chadha:
“The company’s (LeadSquared’s) key SaaS metrics are exceptional and among the best in the market. Its emphasis on developing a user-friendly platform that automates sales processes and delivers unsurpassed efficiency has a substantial potential for growth in the global market.”
Gopal Jain, Managing Partner at Gaja Capital:
“In terms of high-velocity sales execution software, LeadSquared is quickly becoming the market leader. With this financing, the company’s balance sheet is strong enough to support more investments for expansion in India and other regions, particularly the US.”
More about LeadSquared:
LeadSquared is a customer relationship management software that enables companies to gather prospective leads from the internet and track, manage, engage, and follow up until the transaction is completed. It was founded in 2011 by Patel, Prashant Singh, and Sudhakar Gorti.
According to LeadSquared, every stage of the sales process is covered by their platform, including marketing, call centres, inside sales, and field sales. The platform also provides verifications, collections, vendor onboarding, and other services.
The SaaS company claims to have more than 2,000 clients, among them high-growth businesses in edtech, financial services, healthcare, and other markets.
The business claimed that in order to digitize application processing, it introduced sales-performance analytics and a few other technologies last year.
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