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STARTUP TAKIES

LeadSquared said on Tuesday it has raised $153 million in a Series C funding round that valued it at $1 billion (post-money). The round was led by WestBridge Capital, the 11-year-old startup said. Existing backers including Gaja Capital also participated in the new funding, which takes the startup’s all-time raise to $188 million.

The startup helps firms automate sales, bringing efficiency to all the touch points where sales executives are involved including call centers, feet-on-street force and other areas including digital where consumer purchases take place. The startup provides the firms with tools to easily on-board vendors, do verifications and collections.

LeadSquared says its CRM platform “takes away the guesswork” from sales ex*****on — “no matter how complex the customer journey.”

The startup, which employs about 1,200 people, currently generates 90% of its revenue in the home market of India, said Nilesh Patel, co-founder and chief executive of LeadSquared, in an interview with TechCrunch. In the financial year ending March this year, the startup doubled its revenue to about $25.6 million, he said.

Patel co-founded LeadSquared with Prashant Singh and Sudhakar Gorti in 2011, a time when there weren’t many startups in the country. The founders previously worked as consultants and built a software services business. “That was a business around product engineering services, selling to U.S. and European markets. We got a lot of learnings from that,” he said.

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May be just like the moon,
we go through phases.
Complete.
Incomplete.
Invisible.
Alone.
And relying for light.
Like how we all rely on that one heart.
To shine, and to beat.🌒

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