LeadSquared, a SaaS startup that’s serving to gross sales groups turn out to be extra environment friendly with its CRM platform, is the newest Indian startup to turn out to be a unicorn.
LeadSquared mentioned on Tuesday it has raised $153 million in a Sequence C funding spherical that valued it at $1 billion (post-money). The spherical was led by WestBridge Capital, the 11-year-old startup mentioned. Present backers together with Gaja Capital additionally participated within the new funding, which takes the startup’s all-time increase to $188 million.
The startup helps companies 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 pressure and different areas together with digital the place client purchases happen. The startup gives the companies 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 shopper journey.”
The startup, which employs about 1,200 individuals, at the moment generates 90% of its income within the residence market of India, mentioned Nilesh Patel, co-founder and chief government of LeadSquared, in an interview with TS. Within the monetary 12 months ending March this 12 months, the startup doubled its income to about $25.6 million, he mentioned.
“LeadSquared has proven a outstanding capacity to scale and develop effectively. Its core SaaS metrics are distinctive and best-in-class within the business,” mentioned Sumir Chadha, co-founder and managing director of WestBridge Capital, in a press release.
“Its give attention to constructing an easy-to-use platform that transforms gross sales processes by automation delivering unparalleled effectivity, has vital potential for progress within the world market. Way forward for LeadSquared may be very thrilling to us and we look ahead to a protracted partnership with the corporate.”
LeadSquared has amassed over 2,000 clients 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 contemporary funds to increase its worldwide operations in North America, the APAC area and EMEA.
“We’re grateful for the help of our traders as we attempt to construct LeadSquared right into a globally vital 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,” mentioned Patel.
The startup can also be trying to broaden its product with new options together with gross sales efficiency analytics and a collection of instruments to digitize software processing.
Extra to observe…