Bangalore-based LeadSquared Raises $3 Mn in Funding from Stakeboat Capital and Jyoti Bansal

Bangalore-based Marketing and Lead Generation software platform LeadSquared, has raised US$3 million in Series-A funding from Stakeboat Capital, a private equity firm launched by Chennai-based serial healthcare entrepreneur, GSK Velu, and existing investor Jyoti Bansal, a Silicon Valley-based entrepreneur who founded AppDynamics and Harness.io, and has invested in the startup in 2017.

The startup plans to use the funds raised for expansion of its operations and customer acquisition globally.

Commenting on the fundraise, Nilesh Patel, CEO of LeadSquared, said, "The funding comes right in time to propel our global expansion plans to action. 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, so the timing couldn't have been better."

LeadSquared is spun-off from Bangalore-based firm MarketXpander Services, which was founded in 2011 to help marketing teams to generate real, measurable business results.

Businesses that have found fitment with LeadSquared include education institutes including EdTech startup BYJU's, among other offline and online training institutes. Financial services (Insurance providers, loan providers, Fintech businesses), hospitals and wellness clinics, and hospitality businesses among others are also the target customers of LeadSquared.

Notably, LeadSquared is also a CRM platform that guides sales teams about their actions and used by enterprises and small & medium business, across a diverse set of industries.

Chandrasekar Kandasamy, Managing Partner of Stakeboat Capital said, "We are excited to be part of LeadSquared's journey to excel as a sales execution platform. They have had exceptional success in Indian market and are well poised to succeed in global markets. We look forward to working with the team and helping them grow as a global provider of SaaS solutions."

Last December, Stakeboat Capital had lowered the target for its first fund to ₹300 crore against ₹500 crore planned earlier and now the firm is reportedly looking at raising a bigger fund totalling $200 million (₹1,420 crore). The firm is looking to invest about $5-7 million growth capital across technology, financial services and healthcare sectors.

Since 2016, Stakeboat Capital has invested about ₹95 crore in Sankalp Semi Conductors and Lexir Resources.

Source - Business Standard

Silicon Valley Based Tech Entrepreneur Jyoti Bansal Invests In Leadsquared

Jyoti Bansal, a Silicon Valley-based tech entrepreneur has invested an undisclosed amount in Leadsquared, a sales execution and marketing automation platform.

Not only this, he is also in process of closing a second investment in FundsTiger, a SME lending fintech player. Company plans to utilise funds towards sales and marketing on the product.

Commenting on the development, Nilesh Patel, co-founder, Leadsquared said, “The funds raised will be deployed towards sales and marketing, as well as on the innovation front for our product. As of now 80% of our business is in India and 1520% of our business is outside India, having Jyoti's expert advice on board it will be easier to go deeper into the North American market too.

Founded in 2011, Leadsquared focuses on providing marketing automation and CRM software to businesses to help organise lead capture, sales management, analytics.

Earlier in January 2017, Jyoti had sold his performance management firm AppDynamics to Cisco for $3.7 billion. It was then reported that a portion of Bansal's 14% stake in AppDynamics would be invested in startups in India and the Silicon Valley, with a specific focus on B2B startups.

Silicon Valley Based Tech Entrepreneur Jyoti Bansal Invests In Leadsquared

Jyoti Bansal, a Silicon Valley-based tech entrepreneur has invested an undisclosed amount in Leadsquared, a sales execution and marketing automation platform.

Not only this, he is also in process of closing a second investment in FundsTiger, a SME lending fintech player. Company plans to utilise funds towards sales and marketing on the product.

Commenting on the development, Nilesh Patel, co-founder, Leadsquared said, “The funds raised will be deployed towards sales and marketing, as well as on the innovation front for our product. As of now 80% of our business is in India and 1520% of our business is outside India, having Jyoti's expert advice on board it will be easier to go deeper into the North American market too.

Founded in 2011, Leadsquared focuses on providing marketing automation and CRM software to businesses to help organise lead capture, sales management, analytics.

Earlier in January 2017, Jyoti had sold his performance management firm AppDynamics to Cisco for $3.7 billion. It was then reported that a portion of Bansal's 14% stake in AppDynamics would be invested in startups in India and the Silicon Valley, with a specific focus on B2B startups.