Gaja Capital Leads the Round, Existing Investor Jyoti Bansal to Also Participates
Sales automation SaaS platform, LeadSquared, which has achieved 100% revenue growth every year since its founding in 2011, announced today $32 million in Series B funding led by Gaja Capital, also including Stakeboat Capital and Jyoti Bansal, well-known investor and former CEO and chairman of AppDynamics.
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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. 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.
“Our vision to transform sales tech is shared by our investors,” said Nilesh Patel, CEO of LeadSquared. “We have seen a step change in interest from North America and European 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 growth journey,” says Gopal Jain, Managing Partner, Gaja Capital. “In delivering best-in-class SaaS products to the world, LeadSquared’s exceptional success across business segments and consistent global growth demonstrates the trust customers have placed in them. We look forward to helping them achieve their vision of reimagining high-velocity sales tech.”
“LeadSquared’s innovative solutions coupled with an expert team are its key differentiator,” said Jyoti Bansal. “We look forward to supporting them in this next phase of their growth.”
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LeadSquared’s more than 1,000 customers represent high-growth markets including edtech, higher education, financial services, healthcare, tech marketplaces and more. Some of the best names in these industries currently use LeadSquared – OLX, Frubana, Unitek Learning, Pepper Financial Services Group, the edtech giant BYJUs, being a few.
LeadSquared’s unique solution is its end-to-end efficiency platform for all teams involved in the customer journey – including marketing, call center, inside sales, field sales, and other feet-on-the-street teams including verifications, collections, vendor onboarding and more.
Among LeadSquared’s innovations in the past year include the launch of customer portals and a suite of tools to digitize application processing, an especially important process in finance and education; expanding the capabilities of its developer platform, and accelerated adoption by customers of its no-code workflow.
LeadSquared previously raised $3 million in its Series A round led by Stakeboat Capital in 2019.
Ernst & Young is the transaction advisor involved with the deal.
