Software as a service (SaaS) platform LeadSquared has raised $32 million in a Series-B funding round led by Gaja Capital. Existing investors, Stakeboat Capital and Jyoti Bansal also participated in the round, the largest for the company, demonstrating its strong growth trajectory.
EY was the transaction advisor.
The firm plans to utilise the funds for global expansion and sustained product innovation in industries beyond education, financial services, and healthcare. Talent acquisition to match the level of growth will also be a key focus in the coming years, it said in a statement.
LeadSquared aims to build a global, best-in-class 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 funding comes at the right time, and we feel fortunate that our vision to transform sales tech is shared by our investors. We want to take our solutions to newer markets and fuel our global plans into action now,” said Nilesh Patel, CEO, LeadSquared, adding “We have seen a step change in interest from North America and South East Asia markets, as customers drive digital transformation in response to the pandemic outbreak. We have been successful working with global resellers and partners and will focus further on international partner associations with the new funds.”
Globally, LeadSquared has over 1,000 customers and claims 100% revenue growth every year. It has found fitment with industries like edtech, higher education, financial services, healthcare, and tech marketplaces, and its clients include Byju’s, Acko, Amity University, OLX, Dunzo, and Practo.
LeadSquared had raised $3 million during its Series-A round, led by Stakeboat Capital in 2019.
Gopal Jain, Managing Partner, Gaja Capital said, “Indian IT industry has matured from providing services to delivering best-in-class SaaS products to the world. LeadSquared’s exceptional success across business segments in India and consistent global growth demonstrates the trust that their customers have placed in them. We look forward to working with the team to help them achieve their vision of reimagining high-velocity sales tech.”
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