LeadSquared is the Sixth Indian SaaS Unicorn this year

LeadSquared, a Bengaluru-based sales Automation Startup, is the latest software-as-a-service (SaaS) company to join the unicorn club. WestBridge Capital provided $153 million in Series C funding to the company. In startup parlance, a unicorn is a company worth more than a billion dollars.

“With this financing, we will double down on growth investments in India and North America, start building in APAC [Asia-Pacific] and EMEA [Europe, the Middle East and Africa], add new offerings to our product portfolio, and fund acquisitions. To support our growth, we plan to double our headcount in the next 18 months,” Nilesh Patel, CEO and Founder of LeadSquared, said.

LeadSquared is the sixth Indian startup to join this exclusive club this year, and the sixteenth overall. MuSigma, Druva, Icertis, Postman, Zenoti, and Freshworks, which is now publicly traded, are also on the list.

Zoho Corp, led by Sridhar Vembu, is not on India's unicorn list because it is still bootstrapped and has not publicly disclosed its valuation. Zoho is one of India's oldest SaaS companies, and its valuation is estimated to be greater than $1 billion.

LeadSquared is a sales automation platform that assists over 2000 organisations worldwide in increasing sales efficiency. The company, founded in 2011 by Nilesh Patel, Prashant Singh, and Sudhakar Gorti, claims to have clients in a variety of industries, including edtech, financial services, healthcare, marketplaces, and others.