Bengaluru-based IT company Leadsquared said it has raised an undisclosed amount in funding from International Finance Corporation for its domestic and international expansion.
Nilesh Patel, founder and CEO at LeadSquared, said in a statement this investment signals a growing market and readiness of the company’s offerings on a global scale. “We are delighted that IFC has chosen to invest in us, and we believe this is a testimony to the quality of our product innovation.”
With this investment, the company expects a boost in business with its recent foray into North America and looking at a revenue of $200 million in the next five years.
Earlier in December 2020, LeadSquared had raised $32 million from its lead investor Gaja Capital.
William Sonneborn, senior director for disruptive technologies at IFC, said LeadSquared's AI-powered software can help education, healthcare, and financial services companies bring their solutions to scale across markets.
Software-as-a-service provider LeadSquared claims to already have a strong foothold in the higher education space in the US with the market contributing 20 per cent of the company's revenue.
(With inputs from PTI)