[Funding alert] SaaS startup LeadSquared raises $3M in Series A funding from Stakeboat Capital for global expansion

Bengaluru-based sales execution, automation and predictive analytics platform, LeadSquared, has raised $3 million in series A funding from Stakeboat Capital. Jyoti Bansal, an existing investor in the company, and the founder of AppDynamics and Harness.io, has participated in this round again.

Jyoti Bansal sold his application monitoring company AppDynamics to Cisco for $3.7 billion in 2017. His other B2B startup Harness raised $60 million in Series B funding led by IVP, Google Ventures (GV), and ServiceNow Ventures in April 2019.

LeadSquared, owned by MarketXpander Services Pvt. Ltd, plans to utilize the funding for expansion of its operations and customer acquisition globally.  

Speaking about the investment, Nilesh Patel, CEO of LeadSquared, said,

“We have lately been seeing an outpour in interest from US, South East Asian and Middle Eastern markets, and we plan to invest more in the regions.”

Also Read: With over 250 clients including Flipkart and Randstad, LeadSquared finds space in the $500M customer acquisition market

LeadSquared is an AI-powered sales execution, CRM and marketing platform, founded in 2012 and launched in 2013 by serial entrepreneurs from IIT – Nilesh Patel, Sudhakar Gorti and Prashant Singh. It has used by over 800 new-age businesses globally in verticals like education, financial services, insurance, healthcare, internet marketplace and real estate.

The company said in a statement that it helps enterprises generate higher sales and much higher efficiency from all their teams and channels.

Apart from Bengaluru, LeadSquared has offices in Noida, Hyderabad, Mumbai, New Jersey and Dubai. The company plans to hire extensively across all these locations and open a new office in Singapore.

Launched in 2016 by Chennai-based serial healthcare entrepreneur GSK Velu, Stakeboat Capital is a private equity fund focused on small and medium enterprises in the healthcare, enterprise technology, manufacturing, financial services and consumer led businesses. The fund is backed by marquee institutions such as Small Industries Development Bank of India (SIDBI), National Bank for Agriculture and Rural Development (NABARD) and Biotechnology Industry Research Assistance Council (BIRAC).

Earlier this month, Stakeboat Capital led a $14 million funding round in Dvara Kshetriya Gramin Financial Services Private Limited in participation with existing investors Leapfrog Investments and Dvara Trust.

Also Read: Simplifying lead and task management for startups across all channels : Leadsquared’s story