Bengaluru-based IT company LeadSquared on Thursday said it is expecting a boost in business with foray into North America and looking at a revenue of $200 million in the next five years.
The company has opened its first office in New Jersey with over 50 employees working across various verticals to expand business in North America, LeadSquared CEO Nilesh Patel told PTI.
"We foresee North America to have the biggest revenue share in the future which necessitates that we put a strong foot forward and build talent teams in sales and marketing based out of the US. In the future we will look at building local teams for other business functions as well," Patel said.
The company now has 700 employees with most of them based in India.
"With the expansion, the company is targeting USD 200 million revenue in the next five years. This is keeping with its vision to expand through partner networks in other geographies, meeting the needs of international markets by delivering new-age, industry-specific solutions," Patel 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.
"Through the expansion, it aims to double down on that vertical with the objective to become the biggest student admissions platform for higher education institutes in North America. In addition to this, the company aims to leverage the high demand in sectors such as Insurance, Credit Unions and Health technology," Patel said.
The company has clients based in the Asia Pacific region.
"We are now in the process of building a field and inside sales team for its US office operations," Patel said.