LeadSqaured, a sales and marketing automation platform that recently joined the unicorn club, plans to go public in the next three to four years. However, software-as-a-service (SaaS) companies plan to go public in the same period.
Unicorns are privately held startups valued at $1 billion or more.

“We’re trying to build a $200 million company in the next three or four years, and I think there will be two or three more rounds, and when we have a $200 million line of sight, we’ll see what an IPO can do,” co-founder Prashant Singh, chief operating officer, said at a conference hosted by Exfinity Ventures on August 24.

Speaking at a conference on enterprise applications and SaaS, Prashant added that it is important for SaaS companies to focus on burn rates and unit economics before raising capital.

LeadSquared raised $153 million in a new funding round led by WestBridge Capital in June, making it the latest SaaS company to enter the unicorn club. There are about 15 SaaS unicorns in India so far. Last year, about four SaaS startups — ChargeBee, BrowserStack, MindTickle, and Innovaccer — entered the unicorn club.

“80% of our revenue comes from India and the rest from outside India. Our idea is to make it 60% from India and the rest from the rest of the world in the next few years,” Singh said.

Founded in 2011 by Nilesh Patel, Singh and Sudhakar Gorti, the company has major offices in Bangalore and Silicon Valley, helping businesses lead management, analytics, and more. LeadSquared lists Byju’s, Dunzo, Kotak Securities, Vedantu, Acko and Practo as more than 1,000 businesses using its platform.

As of March 2022, the company posted revenue of Rs 200 crore (~$25 million) for LeadSquared.

The platform recently launched a team in the Asia-Pacific region, with a small presence in Africa as well. Patel said about 90% of its revenue comes from India, with the rest from the US. In August, the company also opened its Oceania headquarters in Melbourne, Australia.

The company is very keen on the inorganic expansion route.