Israeli product demo startup Demostack announced on Tuesday that it has raised a $34 million Series B financing round led by Tiger Global Management.
Also participated in the round Amiti Ventures, Bessemer Venture Partners, GTMfund, Operator Collective, and StepStone.
Demostack has developed a platform that allows for the rapid creation of customized product demos for each live sales call in minutes. The demo can be customized with a point and click interface to construct a product story that resonates with each individual customer.
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Demostack gives software firms a competitive edge by enabling teams to develop and execute world-class product demos at scale – resulting in more engagement with prospects, shorter sales cycles, and higher win rates.
Founded in 2020 by CEO Jonathan Friedman, CTO Aaron Hakim, and CMO Gilad Avidan, Demostack has raised $51.5 million to date including a $13.5 million Series A round in 2021 and a $4 million Seed in December 2020.
The company has 93 employees in Tel Aviv, San Francisco, and Novi Sad, Serbia, intends to utilize the financing to expand its Tel Aviv research and development center and hire 50 additional workers in 2022.
Demostack’s Israeli rival Walnut, which has developed a similar platform, raised $35 million several months ago. A Boston-based rival Reprise has raised $82 million to date.