LeadSquared Joins The Unicorn Club with $153 Million Funding from WestBridge Capital
The funding values LeadSquared at $1 billion, making it India’s 103rd firm to join the unicorn club.
June 21, 2022: LeadSquared has raised $153 million in a Series C funding round that valued it at $1 billion (post-money). The round was led by WestBridge Capital. Existing backers including Gaja Capital also participated in the new funding, which takes the startup’s all-time raise to $188 million.
The company 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. They provide tools to easily onboard vendors, do verifications and collections.
Commenting on this milestone, Nilesh Patel, CEO, LeadSquared, says, “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.”
“LeadSquared has shown a remarkable ability to scale and grow efficiently. Its core SaaS metrics are unique and best-in-class in the industry. Their 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,” says Sumir Chadha, co-founder and managing director, WestBridge Capital.
LeadSquared has amassed over 2,000 customers including Pearson, BYJU’S, Dunzo, Kotak Securities, Amazon Pay, Olx and Uni. Its customers span across multiple sectors including healthcare, edtech, lending, banking and marketplaces. The startup plans to deploy the fresh funds to expand its international operations in North America, the APAC region and EMEA. LeadSquared is now looking to broaden its product with new features including sales performance analytics and a suite of tools to digitize application processing.
LeadSquared had previously raised $32 million led by Gaja Capital in 2020 and $3 million during its Series A led by Stakeboat Capital in 2019.
About WestBridge Capital:
WestBridge Capital is a highly experienced investment firm, managing over US$5.6 billion of capital in 120+ companies. The team has a long-standing track record of leading investments and has actively participated in setting the strategic direction of these businesses.
About Gaja Capital:
Gaja Capital a leading mid-market focused private equity firm, that invests in software-driven business services, consumer, education, healthcare, and financial services are key focus areas for the firm. Its recent investments include XpressBees, and RBL Bank.
About Stakeboat Capital:
Stakeboat Capital is a private equity fund founded in 2017 by experienced professionals who have invested in growth-stage companies, transformed them into multi-million-dollar businesses, and generated returns across multiple fund cycles. The firm invests in three focused sectors including healthcare, B2B technologies and services, and value-added industrials/manufacturing.
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. With offices in New Jersey and India it has grown rapidly by helping enterprises in education & training, financial services, real estate, healthcare, tech marketplaces and other industries realize their vision of sales transformation.
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