Bangalore based Marketing and Auto Lead Generation platform Leadsquared has raised undisclosed funds from Jyoti Bansal. Jyoti Bansal managed the funds from his previous company AppDynamics sale to Cisco for $3.5 Billion.
Speaking on recent deal Nilesh Patel, Co-founder of Leadsquared said, “raised funds will be utilised to strong the sales and marketing ends, fund will also be deployed on the Innovation front of the product”.
The investment will be used in expanding its market. “I am excited to be part of LeadSquared’s journey to excel as a sales execution platform. They have had exceptional success in Indian market, and I believe their story is right up there to succeed in North American markets. I look forward to working with the team and helping them grow as a global business,” Jyoti was quoted as saying.
LeadSquared focuses on the providing CRM and marketing optimization software, some of big clients are Byju’s, FlipKart, Quikr, The Deltin Group, Times Pro, Studymate, NIIT Ltd, Ashoka University and NestAway.
The startup is in B2C businesses mainly dealing in real estate, financial services, education, health and wellness, travel, hospitality and consumer services.
Founders and Funding
Leadsquared is founded in 2012, which owned by MarketXpender services. Nilesh Patel, Sudhakar Gorti and Prashant Singh are its co-founders. They realize that most of consumer-facing startups in India are relying heavily on advertisements to acquire customers. They bootstrapped LeadSquared with Rs 2.5 crore. Ever since its inception, the company raised close to Rs 4.5 crore from individual investors.
MarketXpender was working with the role of internet, social media and mobility becoming pivotal in Marketing, MarketXpander leadership team realized that with the right marketing software and tools marketing teams can achieve greater lead generation success, and its transformed into Leadsquared. Company operations are in 80-20 ratio in and outside of India.
We intend to expand more outside India specially in North American market and we will be benefited by expert advice by Jyoti Bansal on board to achieve the target sooner, added Patel.
Bansal is also involved in closing another investment deal in a SME lending fintech company ‘FundsTiger’ owned by Neelan Dwivedi. The company boasts to have about 400 paid customers.