LeadSquared to Reimagine High-Velocity Sales Execution as it Raises $32 Mn in Series-B
Gaja Capital Leads the Round, Existing Investors Stakeboat Capital, and Jyoti Bansal Also Participated
December 16, 2020: Sales automation SaaS platform, LeadSquared, which has achieved 100% revenue growth every year, announced today $32 million in Series B funding led by Gaja Capital, also including Stakeboat Capital and Jyoti Bansal, well-known investor and former chief strategist and chairman of AppDynamics.
LeadSquared has built a global, best-in-class CRM platform that takes away the guesswork from sales execution and makes efficiency the focus of every interaction, no matter how complex the customer journey and now serves more than 1,000 customers globally. It plans to utilize the funds for continued expansion and 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.
Commenting on this milestone, Nilesh Patel, CEO, LeadSquared, said, “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. 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.”
“We are excited to be a part of LeadSquared’s quest for global significance,” says Gopal Jain, Managing Partner from Gaja Capital. “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.”
Chandrasekar Kandasamy, Managing Partner, Stakeboat Capital said, “Going by LeadSquared’s performance, we can affirm that our decision to associate with the company was a great one. Their innovative solutions coupled with an expert team are their USP. We look forward to supporting them in this next phase of their growth.”
LeadSquared’s high-growth markets includes edtech, higher education, financial services, tech marketplaces and more. Some of the best names in these industries currently use LeadSquared – BYJU’S, Acko, Amity University, OLX, Dunzo, Practo, Frubana being a few.
LeadSquared’s USP is its end-to-end efficiency platform for all the teams involved in the customer journey – including marketing, call center, inside sales, field sales, and other feet-on-street teams (verifications, collections, vendor onboarding, and more).
A few innovations in the past year include the launch of customer portals and a suite of tools to digitize application processing (a very important process for finance and education); its constantly growing Developer Platform, and its no-code workflow builder have also found great adoption among customers.
LeadSquared had previously raised USD 3 Million during its Series-A led by Stakeboat Capital in 2019.
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.
About LeadSquared:
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.
Media Contact: Prashant Singh, pr@leadsquared.com, MarketXpander Services Pvt. Ltd.
This news is also published in: The Economic Times, BusinessLine, Mint, Moneycontrol, CNBCTV18.
