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LeadSqaured, a sales and marketing automation platform, in a bid to strengthen its go-to-market strategy, plans to expand its product portfolio. The startup also aims to increase its customer base by 50 per cent in the next year, said Nilesh Patel, CEO of LeadSquared.
The startup will be launching a sales performance analytics suite, a sales assistant product, and a channel offering that will integrate customers’ indirect sales channels and extend the sales cycle. It will also invest to build a service offering that will help customers’ post-sales journey.
LeadSquared entered the unicorn club in June when it raised $153 million in a Series C funding round from WestBridge Capital. It had previously raised $32 million led by Gaja Capital in 2020 and $3 million during its Series A led by Stakeboat Capital in 2019.
Also read: MedGenome raises funding of $50 million
Patel said, “The investments being made to expand our product portfolio is to make ourselves more relevant to the market. We also intend to enter more markets with the additional offerings. Going forward, we will be focusing on product management by people in the field in the territories we function in.”
As the company looks to expand, it intends to acquire companies in spaces such as value chain and analytics. It would be looking at companies with niche, industry-specific product offerings to help them create a footprint in different verticals.
Looking ahead
The platform aims to clock $200 million in revenue in the next three to four years. It believes increasing its customer base by 50-60 per cent in the next year will help achieve the revenue projection. “Our revenues would rise faster as our revenue per customer is healthy and will keep growing. With an upward trajectory, we plan to achieve high double-digit growth,” Patel said.
It currently has over 2000 customers. For the year ended March 2022, the company’s revenue stood at ₹200 crore (around 25 million). 90 per cent of its revenue is from India and the rest from the US.
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