Latest Unicorn of India: The newest unicorn Indian startup is LeadSquare, a SaaS company that uses its CRM software to assist sales teams to work more effectively.
- LeadSquare is now the 20th unicorn in enterprise IT and SaaS and the 103rd unicorn overall in India.
- Without receiving VC money, LeadSquare became the first unicorn in India.
LeadSquare said on Tuesday that its Series C fundraising round, which brought in $153 million, valued the company at $1 billion (post-money). No matter how complicated the customer path, LeadSquare claims that it’s CRM technology “takes away the guesswork” from sales execution.
As per Patel, a Co-founder of LeadSquare, The founders established a software services company after serving as a consultant in the past. “That was a company that provided product engineering services and sold to markets in the United States and Europe”.
The firm saw that the South Asian market, which is now home to over 100 startups, was finally seeing business-to-consumer services develop and flourish. They were early users of the technology we developed. We realized we were fortunate to be there when those enterprises expanded.
Over 2,000 companies have signed up as clients for LeadSquare, including Pearson, Byju’s, Dunzo, Kotak Securities, Amazon Pay, Olx, and Uni. As you can see, its clients are spread throughout a variety of industries, such as healthcare, edtech, lending, finance, and markets. The firm intends to use the additional funding to develop its global operations in North America, the APAC region, and EMEA.
With the addition of additional features like sales performance statistics and a set of tools to digitize application processing, the firm is currently trying to expand the scope of its offering. Vertical applications are our narrative. Our product cannot be compared to other CRMs. Accordingly, there are some adjacencies when we enter a new sector that is pertinent but may not always fit in the traditional lens of sales marketing; as a result, they are potential areas for us, he added.
According to Patel, “As we work to develop LeadSquare into an internationally prominent company, we are appreciative of the support of our investors. With this funding, we’ll increase our growth investments in India and the United States, begin construction in APAC and EMEA, expand our product offerings, and finance acquisitions. We intend to quadruple our personnel in the upcoming 18 months to support our expansion”.