LeadSquared is a cloud-based marketing automation and CRM platform designed for small to medium-sized businesses. The platform provides a suite of tools to help businesses manage their sales and marketing activities, including lead capture, lead scoring, lead nurturing, email marketing, and analytics.
LeadSquared was founded in 2011 by Nilesh Patel, Prashant Singh, and Sudhakar Gorti , with the aim of providing a simple, affordable, and effective marketing automation solution for businesses of all sizes. The platform has since grown to become one of the leading marketing automation and CRM platforms on the market, with over 2,000 customers in more than 25 countries. The company is headquartered in Bangalore, India.
One of the key features of LeadSquared is its lead scoring functionality. Lead scoring allows businesses to assign scores to leads based on their behavior and engagement with the company’s marketing and sales activities. This helps businesses to identify the most promising leads and prioritize their sales efforts accordingly.
Another key feature of LeadSquared is its email marketing functionality. The platform provides a range of email marketing tools, including templates, automation workflows, and analytics, to help businesses create and send effective email campaigns.
LeadSquared also offers a range of other features, including landing page creation, social media integration, and web analytics. The platform is highly customizable, allowing businesses to tailor it to their specific needs and workflows.
In addition to its core functionality, LeadSquared also provides a range of integrations with other popular business tools, including Salesforce, Zapier, and Google Analytics.
Overall, LeadSquared provides a powerful and flexible marketing automation and CRM solution for businesses of all sizes. With its focus on lead scoring, email marketing, and customizable workflows, the platform is a great choice for businesses looking to streamline their sales and marketing activities and improve their overall efficiency and effectiveness.
Founding History of LeadSquared
LeadSquared, founded by Nilesh Patel, Prashant Singh, and Sudhakar Gorti in 2011, claims to have more than 2,000 customers, including high-growth organisations from edtech, higher education, financial services, healthcare, marketplaces, etc.
Bringing his decade long experience in sales and marketing, Nilesh was previously the founder of Proteans, which was later acquired by Symphony Teleca Corporation in 2010. Post-acquisition, Nilesh served as Vice-President of inside sales at Symphony before he decided to start LeadSquared. Nilesh has a degree in engineering from Delhi University, and before founding Proteans spent four years in IBM with their microprocessor test tools division.
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 alumnus of IIT Delhi with degree in in Mathematics and Computer. Prior to 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, heads the product design and development. Sudhakar has a degree in Electrical Engineering from Indian Institute of Technology (IIT), Kanpur. Prior to founding Proteans, he served in various software development roles at IBM, Talisma Corporation and Oracle Software.
In 2011, three of them have founded LeadSquared with the goal of providing a platform that could help businesses manage their entire customer acquisition and engagement process. They started with a small team of software engineers and began building the platform from scratch.
Over the years, LeadSquared has grown significantly and has become one of the leading customer acquisition and engagement platforms on the market. The company has received several awards and recognitions for its innovative platform, including being named a Cool Vendor by Gartner in 2017.
Today, LeadSquared serves thousands of customers around the world, helping them manage their sales and marketing processes more efficiently and effectively. The company continues to innovate and develop new features and capabilities to help businesses succeed in the digital age.
How does LeadSquared work?
LeadSquared offers a wide range of features and tools to help businesses manage their leads, automate their marketing campaigns, and track their sales performance.
Here is how LeadSquared typically works:
Lead Capture: LeadSquared allows businesses to capture leads from multiple sources, including web forms, landing pages, social media, and more. When a lead is captured, it is added to the LeadSquared system, where it can be managed and nurtured through the sales process.
Lead Management: Once a lead is captured, LeadSquared allows businesses to manage and track their progress through the sales funnel. This includes assigning leads to sales reps, tracking their engagement with the business, and nurturing them with targeted marketing campaigns.
Marketing Automation: LeadSquared offers powerful marketing automation tools that allow businesses to create and automate targeted marketing campaigns. This includes email marketing, SMS marketing, social media marketing, and more. These campaigns can be triggered based on specific actions or behaviors, such as website visits, form submissions, and more.
Sales Management: LeadSquared also offers tools for managing the sales process, including lead scoring, opportunity tracking, and sales forecasting. This allows businesses to prioritize their sales efforts and focus on the leads that are most likely to convert into customers.
Reporting and Analytics: Finally, LeadSquared provides detailed reporting and analytics tools that allow businesses to track their sales and marketing performance. This includes metrics such as lead conversion rates, sales pipeline performance, and more.
Overall, LeadSquared is a powerful CRM platform that offers a wide range of features and tools to help businesses streamline their sales and marketing processes and drive growth.
Business Model of LeadSquared
LeadSquared is a software as a service (SaaS) platform that operates on a subscription-based model. Its business model revolves around providing businesses with a comprehensive CRM platform that allows them to streamline their sales and marketing processes.
Here’s how LeadSquared’s business model works:
Subscription-based Pricing: LeadSquared charges its customers a monthly or annual subscription fee based on the number of users and the features they require. The pricing is based on a tiered model, where customers can choose the plan that suits their needs and upgrade/downgrade as required.
Customization and Integration: LeadSquared offers customization and integration services that allow businesses to tailor the platform to their specific requirements. This includes custom workflows, integrations with third-party tools, and personalized dashboards and reports.
Upselling and Cross-selling: LeadSquared offers a range of add-ons and upgrades that customers can purchase to enhance their CRM experience. This includes additional features such as lead scoring, advanced reporting, and more.
Referral Program: LeadSquared has a referral program that rewards existing customers for referring new customers to the platform. This helps to generate new business and incentivizes existing customers to promote the platform to their networks.
Overall, LeadSquared’s business model revolves around providing a comprehensive CRM platform that is customizable, scalable, and easy to use. Its subscription-based pricing model, coupled with its customization and integration services, makes it an attractive choice for businesses of all sizes.
Funding and Investors of LeadSquared
LeadSquared has raised several rounds of funding from investors since its inception. In 2013, the company raised $1.5 million in a seed round led by Mumbai Angels and Hyderabad Angels. In 2019, LeadSquared raised $3 million in a Series A round funding led by Stakeboat Capital. Jyoti Bansal, an existing investor in the company, and the founder of AppDynamics and Harness.io, has participated in this round again. In 2020, the company raised $32 million in a Series B round led by Gaja Capital and participated by Stakeboat Capital and Jyoti Bansal, among others. It raised $153 million in a Series C funding round from WestBridge Capital. With a post-money valuation of $1 billion, the startup has become India’s 103rd unicorn.
The funding that LeadSquared has received has been used to expand its operations, build its technology, and grow its customer base. The company has also used the funding to acquire other businesses, such as marketing automation company MarketXpander in 2016.
Investors in LeadSquared have been attracted to the company’s strong growth potential and innovative technology. With its cloud-based platform, LeadSquared has been able to help businesses of all sizes automate their sales and marketing processes, improving efficiency and driving growth. The company’s focus on customer acquisition and engagement has also made it an attractive investment opportunity for venture capitalists looking for promising companies in the marketing technology space.
Also Read: The Role of Email Marketing In Effective Digital Marketing Strategy
Future of LeadSquared
The future of LeadSquared looks promising, as the company continues to expand its operations and customer base. LeadSquared’s cloud-based customer acquisition and engagement platform is well positioned to benefit from the ongoing digital transformation of businesses around the world.
LeadSquared has a strong focus on innovation and technology, and this will likely continue to be a key driver of its future growth. The company has already developed several powerful features, such as AI-powered lead scoring and automated drip campaigns, that help businesses improve their sales and marketing processes. As LeadSquared continues to invest in its technology and expand its capabilities, it will likely attract more customers and remain competitive in the market.
In addition to its focus on technology, LeadSquared is also expanding its operations globally. The company already has customers in over 25 countries, and it plans to continue its international expansion in the coming years. This will likely involve opening new offices and hiring more staff in different regions, which will help the company better serve its customers and build stronger relationships with them.
Overall, the future of LeadSquared looks bright, as the company continues to innovate and expand its operations. As more businesses look for ways to automate their sales and marketing processes and improve their customer engagement, LeadSquared will likely be well positioned to meet these needs and capture new market opportunities.
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