Indian SaaS firm turns unicorn with $153m series C funding

LeadSquared, an India-based sales automation SaaS firm, has reached unicorn status with a US$153 million series C investment from WestBridge Capital.

LeadSquared co-founders (from left) Sudhakar Gorti, Nilesh Patel, and Prashant Singh / Photo credit: LeadSquared

With this financing, the company plans to double down on growth investments in India and North America. It also aims to start building operations in Asia Pacific, Europe, Africa, and the Middle East, as well as to add new offerings to its product portfolio and fund acquisitions.

“To support our growth, we plan to double our headcount in the next 18 months,” said Nilesh Patel, LeadSquared co-founder and CEO.

The startup last raised US$32 million in a series B round led by Gaja Capital in 2020.

LeadSquared helps businesses by offering a customer relationship management platform, capturing and managing leads from different channels, and directing them to the right teams. This ensures that customers are automatically directed to digital, call center, or field agent representatives, depending on the nature of their query. It said that it has over 2,000 clients worldwide.

The firm has also recently launched tools for sales performance analytics and application processing digitalization, as well as a developer platform.

Alongside Patel, LeadSquared was founded by Prashant Singh and Sudhakar Gorti in 2011.

The SaaS industry is set to grow to a global market value of US$716.5 billion in 2028 at a compound annual growth rate of 27.5%.

See also: A list of India’s unicorns and their early investors (Updated)