Walnut, the company that invented the world’s first sales and marketing demo experience platform, has raised a $35 million Series B fundraising round led by Felicis Ventures.
Walnut’s no-code platform enables customer-facing teams to rapidly and easily generate customized product demos, integrating them into existing sales and marketing processes, shortening sales cycle times, and producing insights.
Walnut was founded by serial entrepreneurs Yoav Vilner and Dani Friedland in July 2020. One month later they raised 2.5 million seed from 7 investors.
In the second seed round in December 2020, the company raised 3.5 million. In round A, in August 2021, the company raised $15 million.
In four months since August, the company grew a stunning 700% in annual recurring revenue, which lead quickly to the recent round.
Felicis is joined by existing investors NFX, Eight Roads Ventures, and A Capital, as well as a group of strategic angel investors led by Salesforce president and chief marketing officer Sarah Franklin, Okta co-founder Frederic Kerrest, TripActions co-founder and CEO Ariel Cohen, and Papaya Global co-founder and CEO Eynat Guez.
The company has over 100 B2B customers, including Adobe, NetApp, Varonis, and People AI, who are served by the company.
“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 with Yoav, Danni, and team Walnut to continue pioneering sales experience” – Jake Storm
The new funds will enable Walnut to expand its team in the United States, Europe, and Israel from 55 to almost 100. Additionally, the company will place a premium on technological advancements and product development.