Inside IT company LeadSquared’s strategy for 100 pc annual growth

In an exclusive interaction with YourStory’s Daily Dispatch, Nilesh Patel, Founder and CEO, LeadSquared, reveals the startup’s growth strategy.
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Bengaluru-based IT company, LeadSquared, has said it is aiming to hit the $200 million in revenue in under five years. The startup’s platform for marketing automation and sales execution is used by enterprises and small businesses across diverse industries. It has set a target of growing 100 percent annually, according to Nilesh Patel, Founder and CEO, LeadSquared. 

“We have built our business model to hit the $200 million mark in less than five years and become a profitable company,” he says. The brand’s focus is now on building a quality business that is profitable and reaps returns to its investors. 

Earlier this year, the SaaS-based company announced that it has raised an undisclosed amount of funds from International Finance Corporation for its India and overseas expansion. The brand had also raised $32 million from Gaja Capital in December 2020. 

“India is a great growth market for us. We continue to be bullish there and we will be growing 100 percent annually for many years to come,” says Nilesh. 

The company is also eyeing a huge opportunity in the US market for its product. It claims to already have a footing in the higher education space in the US, which contributes 20 percent to the revenue. Southeast Asia and Europe markets are also next on the priority list. 

At present, 750 employees are employed with the company across verticals and countries. “We have been very successful in the education market in India and outside India as well. We intend to build and capitalise on that,” according to Nilesh. 

The direct-to-consumer space and ecommerce marketplaces are next in line for the brand to focus on. It is also exploring financial services as an option. 

“Financial services is seeing a lot of traction and a lot of disruption is going on in that segment, which means there is a fight for consumers’ wallets. We feel we are rightly placed to serve that opportunity,” he adds. 

LeadSquared has a portfolio of clients that include Practo, BYJU’S, OLX, Dunzo, Exide Life Insurance, Kotak Securities, Bharti AXA, and Cars 24, among others. The brand is aiming to onboard big companies as clients and continue to focus on growing 100 percent annually. 

Edited by Kanishk Singh