Bengaluru-based SaaS unicorn Leadsquared had a total loss of Rs 161.19 crore in the financial year 2022-23 (FY23), compared to a loss of Rs 61.94 crore in the previous year.
The company’s total revenue increased from Rs 200.57 crore in FY22 to Rs 296 crore in FY23. Leadsquared, established in 2011, provides SaaS products to various industries such as edtech, healthcare, BFSI, real estate, automotive, and hospitality.
The main revenue stream for Leadsquared is software development, generating Rs 211.01 crore in FY23, a 27 per cent year-on-year (YoY) increase from the previous year. In addition to software development, the company earned Rs 44.97 crore from contracts, a 63 per cent growth from the previous fiscal year.
Leadsquared’s total expenses in FY23 rose by 73.86 per cent (YoY), reaching Rs 456.09 crore. Employee benefits expenses almost doubled YoY, amounting to Rs 270.74 crore. The company also increased its spending on advertising and promotional activities to Rs 19.02 crore in FY23, representing a 95 per cnet YoY growth.
Leadsquared raised USD 153 million in a Series C funding round from WestBridge in June 2022 and competes with companies like Zoho, Browserstack, Amagi and Freshworks in the sales automation space.
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