Walnut, a New York-based sales startup, has successfully closed a $15 million Series A funding round to continue expanding its platform.
The funding round was led by Eight Roads Ventures, a global VC managing $8 billion of assets. Firms like AppsFlyer, Alibaba, Hibob, and Made.com.also participated, bringing the total funding raised by the startup to $21 million. Davor Hebel and Eyal Rabinovich from Eight Roads Ventures referred to the firm’s participation by stating:
“COVID has accelerated the trend towards remote sales, though the process started long before the pandemic. Most companies lack the automation and digital scalability to deliver the experience buyers seek. Walnut’s platform approach to demos and the overall sales experience significantly help companies address today’s dynamic challenges. We have been very impressed by the rapid growth Walnut has achieved over the last year and we are thrilled to partner with Yoav and the team as it looks to become a category leader”.
Having grown to serve more than 60 major B2C companies like Adobe, NetApp, Varonis, and People AI, Walnut will use the new funding to expand its team across the US, Europe, and Israel while continuing to develop its technology.
Walnut attributes its success to the customer-centric approach of its platform, which allows organizations to lower the barriers to the creation of demos while improving the buying experience. Walnut Co-founder Yoav Vilner referred to this approach by stating:
“We believe that out of all of the challenges B2B companies face, demonstrating the product is the toughest nut to crack. It has been an amazing first year for Walnut. We’re honored to have such experienced investors put their trust in us yet again. Our commercial traction and product value have been faster than we could have imagined.”.
With Covid19 forcing millions of people and businesses around the world to transition to remote sales, the sales startup is aiming to shift the traditional paradigm that has dictated the use of demos in marketing for a long time.
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