Eight Roads Ventures leads $10m round for sales platform LeadIQ

LeadIQ, a software-as-a-service company headquartered in Singapore and the US, announced that it has secured up to US$10 million in a series A funding round led by Eight Roads Ventures.

Tim Draper, founding partner at Draper Associates, and angel investor Jason Calacanis’ Launch Fund also participated in the round.

Photo credit: LeadIQ

Founded in 2015 by Mei Siauw and Angelo Huang, LeadIQ seeks to simplify lead management and sales prospecting processes for businesses.

“Every second that a rep is wasting on repetitive tasks [and] chasing the wrong prospect is not only hurting their company, but our economy as well,” Siauw, CEO of LeadIQ, said.

The company’s platform connects to sales engagement and consumer relationship management platforms. It then sends prospect data to them as salespeople browse the web. It can support Salesoft, Outreach, HubSpot, and Salesforce.

Some of LeadIQ’s existing clients include TripActions, Showpad, and Sendoso, among others, according to a statement.

The company will use the new funds to further invest in product research and development, build out its team in Singapore, and expand in Southeast Asia.

It currently has over 60 employees across three offices in San Francisco, New Hampshire, and Singapore, but the company said it’s now focusing on the Southeast Asian market, with 60% of its staff based in the Asian city-state.

LeadIQ also believes that there is a growing opportunity for digital sales enablers, especially as the Covid-19 pandemic drives businesses to move their sales workflow online.