Crowdsourced data community for B2B salespeople Lusha, has raised $40 million in a Series A funding round from PSG, a growth equity firm.
The funding will allow Lush to grow its sales community to make accurate data accessible to sales professionals through its technology.
Yoni Tserruya, Co-Founder & CEO of Lusha said: “Although we are a bootstrap company, I still think we were able to succeed in terms of revenue and number of employees, and I think over the years, we’ve come to understand the business needs, so at the time, we needed more resources so we decided to get a financial partner to build a bigger vision and bigger brand. Salespeople need alternative ways to reach out with no events going on at the moment, and our data we provide them allows them to do that even when they’re at home.”
Lusha’s cloud-based platform enables sales to share accurate contact and company information with one another with insights on the customers they’re targeting. In addition, it also recommends relevant prospects and organisations. Lusha’s community has expanded to over 520,000 sales professionals and 167,000 sales organisations.
He further said: “Today, sales professionals only spend a fraction of their time actually selling due to limited access to data and the need for research. Our community approach is changing this reality, equipping salespeople with the information they need to reach the right person and know when to prioritise outreach.
Even in a time of great uncertainty, with many working from home due to COVID-19, we are hearing from salespeople who are part of the Lusha community that they are having some of the best sales months of their careers. It is clear Lusha has become a vital part of the salesperson’s toolkit.”
