SaaS platform LeadSquared earns unicorn tag after $153m fundraise

LeaSquared founding team

Sales automation SaaS platform LeadSquared Tuesday announced that it has entered the unicorn club after securing $153 million in its Series C funding from private equity firm WestBridge Capital.

Unicorn is a term used to describe startups valued at $1 billion or more.

Bengaluru-headquartered LeadSquared had previously raised $32 million led by Gaja Capital in Series B financing in 2020, and $3 million during its Series A round led by Stakeboat Capital in 2019.

“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,” said Nilesh Patel, CEO and founder, LeadSquared.

Founded by Nilesh Patel, Prashant Singh, and Sudhakar Gorti in 2011, LeadSquared has built customer relationship management (CRM) platform that can boost the efficiency of teams involved in the customer journey including marketing, call center, inside sales, field sales, and other feet-on-street teams (verifications, collections, vendor onboarding).

The platform claims to be helping 2000+ organisations globally across edtech, financial services, healthcare, and marketplaces to drive sales efficiency at scale. Globally, it enjoys a presence in the United States, the Philippines, South Africa, Australia, and Indonesia.

Some of its newer product releases in the past year include the launch of sales performance analytics and a suite of tools to digitise application processing (an important process for finance and education).

“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,” said Sumir Chadha, co-founder and managing director at WestBridge Capital.

Barclays acted as the exclusive placement agent for the Series C funding.

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