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LeadSquared raises $32 million in series B round

Bengaluru based sales automation SaaS platform, LeadSquared said on Wednesday that it has raised around $32 million in series B round led by Gaja Capital. Existing investors Stakeboat Capital and Jyoti Bansal were also part of the funding round. LeadSquared was founded in 2012 as part of the MarketXpender services and launched in 2013 by Nilesh Patel, Sudhakar Gorti and Prashant Singh.

The Bengaluru based company plans to use the raised funds for its worldwide expansions and continued product innovation in industries beyond education, financial services, healthcare and talent acquisition to match the level of growth in upcoming years. It is a complete sales management, marketing automation and field force management platform that aims to influence customer journeys and improve the efficiency of points of contact, teams and sales channels.

The startup claims to have more than 1,000 customers around the world and continues to see revenue growth of 100 per cent annually. BYJU’S, Acko, Amity University, OLX, Dunzo and Practo are among the clients of the start-up.

LeadSquared CEO Nilesh Patel 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."