Walnut Raises $35M Series B Led by Felicis After Growing 700% Since Recent Round
Walnut Raises $35M Series B Led by Felicis After Growing 700% Since Recent Round
The financing round comes on the heels of growing 700% just four months after announcing the prior round.
Manhattan, NYC — Jan. 14, 2022 — Walnut, the creator of the world’s first sales and marketing demo experience platform, today announces the close of its $ 35 million Series B funding round led by Felicis Ventures. The raise comes just four months after announcing an oversubscribed Series A, bringing Walnut’s total funding to date to $ 56M.
The round also included participation from strategic angel investors such as Sarah Franklin (President and CMO, Salesforce), Frederic Kerrest, (Executive Vice Chairman, COO, and co-founder, Okta), Ariel Cohen (CEO and Co-Founder, TripActions), Eynat Guez (CEO and Co-Founder, Papaya Global), Michael Shaulov (CEO and Co-Founder, Fireblocks), Kim Walsh (VTP GTM, HubSpot), Ryan Carlson (CMO, Okta), Stacey Epstein (CMO, Freshworks), Stephanie Robotham (marketing exec, former Salesforce and Gainsight), James Ireson (CRO, Funnel) and more.
Existing investors NFX, Eight Roads Ventures, and A Capital also participated in the financing round.
“For the first time ever, SaaS companies can put the needs of their prospects in the center. This will provide them with a memorable experience that converts sales,” said Walnut’s CEO, Yoav Vilner. “We are excited to be partnering with Felicis as our lead investor in financing as we continue to scale.”
No-Code, Customized Sales Demos
Walnut’s no-code platform enables customer-facing teams to create customized product demos quickly and efficiently. As a result, they can then integrate them into their sales and marketing processes. Likewise, faster production time reduces sales closing time and generates insights.
Prior to Walnut, product demos were a massive pain point for all sides. Walnut alleviates the pain point of a generic experience for prospects. Additionally, Walnut allows users to track tangible insights leading to better clarity for team leaders.
“Walnut is the first and leading sales experience platform. It is revolutionizing how go-to-market teams interact with customers by increasing conversions, shortening the sales cycle, and adding deep PLG insights to the revenue funnel,” said Viviana Faga, General Partner at Felicis. “We were blown away by our conversations with customers, who had shortened their time to sale by 2.5 weeks, without writing a line of code.”
“Walnut is the clear leader in the sales experience category. As a result, this new funding will accelerate hiring to manage inbound demand. Every company needs a sales experience platform to accelerate the time-to-sale and to deeply understand the product value proposition via powerful analytics. I could not be more excited to join the board of Walnut. I look forward to partnering with Yoav, Danni and the team during this exciting time of growth.”
A Proven Track Record
As the creator of this trending tech category, Walnut is already helping almost 100 SaaS customers provide great sales experiences for their prospects. The company’s fast-growing client list includes Adobe, Dell, Medallia, NetApp, Treasure Data, Funnel, People AI, and ContractBook.
“We have tried several options but found Walnut’s platform to be the most intuitive and scalable for our needs. Our sales reps are using Walnut and we’re looking forward to continuing impacting both our employees’ and customers’ sales experience,” says Iona Coman, Demo Engineering at Medallia.
Walnut announced its Series A just four months ago and has grown 700% in ARR since commencing the previous round. The company will use this fresh round of financing to meet the increasing customer demand, grow the team across its different offices in the U.S, Europe, and Israel, as well as continue developing its unique technology and platform.
Walnut has also been featured in top publications, such as “Top 50 Startups to Work for,” “Top 3 Must-Have Startups for 2021,” “Best NYC Enterprise Startups,” and “Product Hunt’s Product of the Week.”
Additional Quotes
“After seeing the ardent customer love from startups to Fortune 500 companies, it became abundantly clear that Walnut is the easiest and most scalable solution in the market by objective standards. We found that teams across sales, marketing, product, and customer success have organically adopted the platform to drive efficiency at every step of the funnel.
Walnut has risen to the occasion and harnessed this extraordinary market pull with best-in-class sales efficiency. The combination of past execution with an incredibly ambitious vision makes us thrilled to partner in financing with Yoav, Danni, and team Walnut to continue pioneering sales experience”
— Jake Storm
About Walnut
Walnut is the world’s first sales experience platform. This platform puts the prospect in the center of the sales engagement. It empowers sales leaders to own the entire process without relying on any back-end team.
The sales/marketing teams create and manage interactive, embedded product experiences for their prospects. Additionally, they can measure the performance of the demos and get unique insights.
Walnut was launched by serial founders Yoav Vilner and Danni Friedland and is based globally. Learn more at Walnut.io
About Felicis
Founded in 2006, Felicis Ventures is a venture capital firm. They invest in companies reinventing core markets, as well as those creating frontier technologies. Felicis focuses on early-stage investments and currently manages over $ 2.1B in capital across 8 funds.
Additionally, the firm is an early backer of more than 41 companies valued at $ 1B+. More than 91 of its portfolio companies have gone public or been acquired. This success rate includes Adyen (IPO), Credit Karma (acq. by Intuit), Cruise (acq. by General Motors), Fitbit (IPO), Guardant Health (IPO), Meraki (acq. by Cisco), Ring (acq. by Amazon), and Shopify (IPO). The firm is based in Menlo Park, CA. Learn more at www.felicis.com.
The post Walnut Raises $ 35M Series B Led by Felicis After Growing 700% Since Recent Round appeared first on ReadWrite.
(18)
