Gaja leads $32m Series B for India SaaS start-up

Stakeboat Capital, which led a $3 million Series A last year, and Jyoti Bansal, founder of IT analytics company AppDynamics, also participated. It follows a number of developments in the past year including the launch of customer portals and a suite of tools to digitize application processing, an expansion of developer platform capabilities, and an acceleration in customer adoption of the company’s “no-code workflow” service.

LeadSquared’s core services focus on marketing automation and customer relationship building, including efficiency improvements in various sales touchpoints. The company claims revenue has grown 100% every year since its inception in 2011. It now has more than 1,000 customers in industries such as financial services, healthcare, and tech marketplaces.

“We are excited to be a part of LeadSquared’s growth journey,” Gopal Jain, a managing partner at Gaja, said in a statement. “In delivering best-in-class SaaS products to the world, LeadSquared’s exceptional success across business segments and consistent global growth demonstrate the trust customers have placed in them. We look forward to helping them achieve their vision of reimagining high-velocity sales tech.”

Jain founded Gaja in 2004 alongside Ranjit Shah, also a managing partner. The idea was to combine local Indian knowledge with US-style private equity management by targeting a domestic funding gap for smaller and mid-sized companies. It launched its fourth fund in May, targeting $400 million. Fund III closed at $240 million in 2016.

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• Topics
• South Asia
• Early-stage
• Technology
• India
• Gaja Capital Partners
• enterprise software