SaaS platform LeadSquared turns into unicorn with $153 million recent funding – TechCrunch


LeadSquared, a SaaS startup that’s serving to gross sales groups grow to be extra environment friendly with its CRM platform, is the newest Indian startup to grow to be a unicorn.

LeadSquared stated on Tuesday it has raised $153 million in a Collection C funding spherical that valued it at $1 billion (post-money). The spherical was led by WestBridge Capital, the 11-year-old startup stated. Present backers together with Gaja Capital additionally participated within the new funding, which takes the startup’s all-time elevate to $188 million.

The startup helps corporations automate gross sales, bringing effectivity to all of the contact factors the place gross sales executives are concerned together with name facilities, feet-on-street drive and different areas together with digital the place shopper purchases happen. The startup gives the corporations with instruments to simply on-board distributors, do verifications and collections.

LeadSquared says its CRM platform “takes away the guesswork from gross sales execution “regardless of how advanced the client journey.”

The startup, which employs about 1,200 individuals, at present generates 90% of its income within the dwelling market of India, stated Nilesh Patel, co-founder and chief govt of LeadSquared, in an interview with TechCrunch. Within the monetary yr ending March this yr, the startup doubled its income to about $25.6 million, he stated.

“LeadSquared has proven a outstanding capacity to scale and develop effectively. Its core SaaS metrics are distinctive and best-in-class within the trade,” stated Sumir Chadha, co-founder and managing director of WestBridge Capital, in a press release.

“Its deal with constructing an easy-to-use platform that transforms gross sales processes via automation delivering unparalleled effectivity, has important potential for progress within the world market. Way forward for LeadSquared could be very thrilling to us and we look ahead to a protracted partnership with the corporate.”

LeadSquared has amassed over 2,000 prospects in lots of sectors together with Pearson, Stanford College, Byju’s, Dunzo, Kotak Securities, Amazon Pay, Olx, and Uni. The startup plans to deploy the recent funds to develop its worldwide operations in North America, the APAC area and EMEA.

“We’re grateful for the help of our buyers as we try to construct LeadSquared right into a globally important enterprise. With this financing, we are going to double down on progress investments in India and North America, begin constructing in APAC and EMEA, add new choices to our product portfolio, and fund acquisitions. To help our progress, we plan to double our headcount within the subsequent 18 months,” stated Patel.

The startup can be seeking to broaden its product with new options together with gross sales efficiency analytics and a collection of instruments to digitize software processing.

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