Lusha, the crowdsourced data community for B2B sales and marketing professionals, said today that it has raised $205 million in a Series B fundraising round, valued at $1.5 billion and elevating the firm to unicorn status.
The round was headed by PSG, a growth equity fund focused on middle-market software and technology-enabled services companies, and included participation from ION Crossover Partners, bringing the company’s total investment to $245 million.
Lusha intends to use the funding to build its 800,000-strong community of B2B sales professionals into the industry’s largest, by extending its global footprint and continuously improving data quality and usability.
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Until recently, B2B sales and marketing relied on a “spray and pray” technique, contacting numerous irrelevant potential customers. As a result, salespeople spend approximately 65 percent of their time on non-sales and administrative tasks rather than connecting with prospects. This consumes valuable time and resources that could be better spent expanding enterprises.
Founded in 2016 by company president Assaf Eisentsein and CEO Yoni Tserruya, Lusha helps business professionals establish a fast and true connection with their leads, contacts, and candidates.
Lusha’s cloud-based platform enables sales professionals and teams to quickly access enterprise-grade solutions for identifying their ideal target buyer and gaining data-driven insights into who they approach as a potential client, when they approach them, and why. Through ongoing validation and enrichment of its database, community members enable Lusha to give the most reliable data possible.
“Much like marketing did a decade ago, sales professionals are ditching spray and pray outreach in favor of data-driven, hyper-targeted selling,” stated Yoni Tserruya, CEO & Co-Founder of Lusha. “With a simple, easy-to-use solution, Lusha enables all salespeople to leverage data to identify their most relevant opportunities and optimize income.”
“Lusha’s cutting-edge technologies and industry-leading data have upended decades-old market inefficiencies for sales professionals,” stated Adam Marcus, Managing Director at PSG.