How 3 Indian engineers turned this IT company into India’s newest unicorn

Software-as-a-service (SaaS) platform for sales automation LeadSquared has become India’s newest unicorn with a new $153 million (approx. 1,194 crore) from WestBridge Capital in a Series C round, the company announced Tuesday.

“With this funding, we will double our growth investments in India and North America, begin building in APAC and EMEA, add new offerings to our product portfolio and fund acquisitions. To support our growth, we plan to expand our workforce in over the next 18 months,” said LeadSquared CEO and Founder Nilesh Patel.

LeadSquared, founded by Nilesh Patel, Prashant Singh and Sudhakar Gorti in 2011, claims to have more than 2,000 clients including high-growth organizations from edtech, higher education, financial services, healthcare, marketplaces, etc.

With ten years of experience in sales and marketing, Nilesh was previously the founder of Proteans, which was later acquired by Symphony Teleca Corporation in 2010. After the acquisition, Nilesh was Vice President Inside Sales at Symphony before deciding to found LeadSquared. † Nilesh has an engineering degree from Delhi University, and before founding Proteans, he spent four years at IBM with their microprocessor testing tools division.

“Our turnover doubled to” 200 crore in fiscal year 2022 from about 100 crore in 2020-21. Now we want to increase our turnover to approx 400 crore over the next five years. We currently have 1,200 employees, which we will double over the next 18 months,” said Patel.

Prior to co-founding LeadSquared and currently designated as the company’s Chief Operating Officer (COO), Prashant was also the co-founder of Proteans. He is an alumnus of IIT Delhi with a degree in Mathematics and Computer. Before founding Proteans, he was part of several product development teams in Telesoft, i2 technologies and Oracle.

Sudhakar, co-founder and chief product officer of LeadSquared, leads product design and development. Sudhakar holds a degree in electrical engineering from Indian Institute of Technology (IIT), Kanpur. Prior to founding Proteans, he held various software development roles at IBM, Talisma Corporation and Oracle Software.

LeadSquared had previously raised $32 million under the leadership of Gaja Capital in 2020, and $3 million during Series A led by Stakeboat Capital in 2019. The company has built a global customer relationship management (CRM) platform that takes the guesswork out of the execution of sales and improve efficiency. the focus of every customer interaction.

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