Bengaluru-based IT company Leadsquared on Tuesday announced to have raised an undisclosed amount of fund from International Finance Corporation for its domestic and international expansion.
The company had raised USD 32 million from its lead investor Gaja Capital in December 2020.
"IFC''s investment in LeadSquared signals a growing market and readiness of our 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," LeadSquared founder and CEO Nilesh Patels said in a statement.
The company expects a boost in business with its recent foray into North America and looking at a revenue of USD 200 million in the next five years.
"LeadSquared''s AI-powered software can help education, healthcare, and financial services companies bring their solutions to scale across markets." IFC senior director for disruptive technologies and funds William Sonneborn said.
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.
The company at present has over 750 employees working across various verticals and multiple geographies.