LeadSquared Raises $153-Million In Funding Round To Attain Unicorn Status

India-based SaaS startup, LeadSquared recently announced that it has secured an investment of USD $153-million in a Series C funding round from WestBridge Capital. LeadSquared is headquartered in Bengaluru, India alongside its presence in the United States, APAC, and EMEA. 

The company was founded by Nilesh Patel, Prashant Singh, and Sudhakar Gorti in 2011. LeadSquare was founded with a vision to make high-velocity sales execution software a growth engine for companies around the globe. 

It now serves more than 2,000 customers globally in higher education, edtech, professional education, healthcare, and financial services. Its customers include Pearsons, Byju’s, Dunzo, Kotak Securities, Amazon Pay, OLx, and Uni.

The startup helps firms automate sales, bringing efficiency to all the touch points where sales executives are involved including call centers, feet-on-street force, and other areas including digital where consumer purchases take place. The startup provides the firms with tools to easily onboard vendors, and do verifications and collections. 

The company’s $153-million Series C funding round valued it at $1-billion. The round was led by WestBridge Capital with participation from existing backers such as Gaja Capital which takes the startup’s all-time raise to $188-million.  

The startup plans to use the money to double down on growth investments in India and North America. It also looks to reply the fresh funds to expand its international operations in North America, the APAC region, and EMEA. 

The latest funding would also be used to broaden the company’s product with new features including sales performance analytics and a suite of tools to digitize application processing. 

Nilesh Patel, co-founder, and chief executive of LeadSquared said in a statement that “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.”

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