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Sales experience platform Walnut raises $15M in Series A to grow its team across the US, Europe and Israel, develop its technology and platform to drive a product-led growth
Walnut, a company helping sales teams manage their demo experience and reinvent sales experience, has raised $15 million in a Series A funding round led by Eight Roads Ventures to improve product demonstrations, reports state.
The seed round for Walnut came last year, where it netted a total of $6 million. With the close of Series A, the total amount raised by the company touches $21 million. In an interview with TechCrunch, Walnut founders Yoav Vilner and Danni Friedland enunciated that sales teams encounter problems while demonstrating their products. Walnut solves this problem with a no-code platform that lets them create customized product demonstrations and integrate them into sales and marketing processes.
“We let the sales and marketing teams replicate the SaaS product in our cloud environment, which is disconnected from the back end. “They can create a storyline to fit their customer and the demonstration, and then following the demo, sales leaders can get insight on what was good or bad. It encourages the sharing of knowledge and what story worked best for which kind of company,”Walnut founders told TechCrunch
It is reported that Walnut would use the proceeds from the funding to grow its team across the US, Europe and Israel, and develop its technology and platform to drive product-led growth. It would also look to double its headcount over the next year.
Eyal Rabinovich, an investor at Eight Roads Ventures, stated that Walnut fits well with the VC firm’s theses around broad vertically integrated brands in SaaS and deep technology.
“They make everything measurable, and the ‘holy grail’ is conversion, and even just a one percent conversion could mean millions of dollars. Every company we spoke to wanted to use this product. Customers were telling us they closed the sales cycle within two weeks.”Eyal Rabinovich