LeadSquared raises funds from IFC

leadsquared funding

LeadSquared announced that it has raised undisclosed funds from International Finance Corporation for its domestic and international expansion.

The Bengaluru-based IT company had earlier raised $32 million from its lead investor Gaja Capital in December 2020.

In a statement, Nilesh Patel, Founder and CEO, LeadSquared said, “IFC’s investment in LeadSquared signals a growing market and readiness of our offerings on a global scale. We are delighted that IFC has chosen to invest in us, and we believe this is a testimony to the quality of our product innovation.”

With its recent entry into North America, the company is expecting a boost in business and is looking at a revenue of $200 million in the next five years.

“LeadSquared’s AI-powered software can help education, healthcare, and financial services companies bring their solutions to scale across markets.” IFC senior director for disruptive technologies and funds William Sonneborn said.

SaaS provider LeadSquared claims to have already established a strong foothold in the higher education space in the US with the market contributing 20 percent of the company’s revenue.

Currently, the company has more than 750 employees working across several verticals and multiple geographies.

We are excited to be a part of LeadSquared’s quest for global significance,” says Gopal Jain, Managing Partner from Gaja Capital. 

He adds, “LeadSquared’s exceptional success across APAC and the strong response in North America exudes confidence in their ability to become a key player in the global sales tech landscape. We look forward to being a part of their next phase of success and are confident that the company will continue to grow with its customer-centric products and solutions in the times to come.”

LeadSquared seems to be an interesting startup in the SaaS space with a strong presence in the market. I’m sure the company will continue to prosper in its journey ahead. My best wishes to the team of LeadSquared.

Shishir Gupta, Founder and CEO, StartupLanes

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