Sales and marketing demo experience platform Walnut has raised $35 million in a Series B funding round led by Felicis Ventures. This round will bring Walnut’s total funding to $56m. The company has grown 700% since its previous round and intends to use the capital to develop its product and expand its Israel, Europe and US offices.
“For the first time ever, SaaS companies can put the needs of their prospects in the center, providing them with a memorable experience that converts sales,” said Walnut CEO Yoav Vilner. “We are excited to be partnering with Felicis as our lead investor in this round as we continue to scale.”
Walnut’s platform enables sales and marketing teams to create and manage embedded interactive product demos, providing analytics, insight and feedback. The company’s current clientele includes Adobe, ContractBook, Dell, Medallia, NetApp, People AI, Treasure Data, and Funnel.
“We have tried several options, but found Walnut’s platform to be the most intuitive and scalable for our needs,” said Iona Coman, Demo Engineering at Medallia.
Round leader Felicis Ventures is based in Menlo Park, California. It currently manages over $2.1 billion in capital, and is a backer in such companies as FitBit, Ring and Shopify.
“Walnut is the first and leading sales experience platform that 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 clearly the leader in the Sales Experience category, and this new funding will accelerate hiring to manage inbound demand,” she added. “Every company needs a sales experience platform to accelerate the time to sale and to deeply understand the product value proposition via powerful analytics.”
Felicis Ventures VP Jake Storm said, “After seeing the ardent customer love from start-ups 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.”