Automation platform LeadSquared has raised $153 million in its Series C funding round from WestBridge Capital at a $1 billion valuation.
With this fresh funding, the SaaS company entered the unicorn club. The company plans to use the funds to expand into new geographies, hire talent and make tuck-in acquisitions.
The Bengaluru-based LeadSquared was founded in 2011 by Nilesh Patel, Prashant Singh and Sudhakar Gorti, It provides Marketing Automation and Sales Execution CRM (Customer Relationship Management) solutions.
It also claims to double its annual revenue from Rs 100 crore for FY 2021 to Rs 200 crore in FY 2022.
“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, Co-founder and CEO of LeadSquared.
He also added that the company will evaluate acquisitions in adjacent applications such as conversational AI, sales training space, specialty analytics and customer experience, among other areas. And the company will also look for acquisitions to enter new geographies.
The company has a base of 1,200 employees across its offices in India, USA, APAC and Africa.
Its platform is used by over 2,000 businesses, primarily in the business-to-consumer (B2C) space, edtech, higher education, financial services, healthcare, marketplaces and more.
India remains its primary market, contributing about 90 percent of its revenue, followed by the US.
“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.
The company has launched a new line of products over the past year that includes sales performance analysis products and a suite of tools to digitize application processing.
There are about 15 SaaS unicorns in India, of which Fractal Analytics, Unifor, Darwin Box, Amagi Media Labs and Hasura joined the club this year.
In December 2020, LeadSquared had raised $32 million in funding round led by Gaja Capital.
LeadSquared is a new-age SaaS platform that provides end-to-end sales, marketing, and onboarding automation solutions.
The company specializes in solving sales challenges for high lead-volume, high-velocity businesses that have multiple sales channels and teams. Currently, LeadSquared is helping 2000+ enterprises across 40 countries enhance their sales efficiency.
Known for its verticalized, industry-centric solutions, LeadSquared serves EdTech, Education, Healthcare, BFSI, Real Estate, Automotive, and Hospitality industries. The company is headquartered in Bengaluru with a local presence in New Jersey, Philippines, South Africa, Australia, and Indonesia.