Israeli B2B sales contact data company Lusha announced today that it has closed a $40 million Series A financing round from US fund Providence Strategic Growth (PSG).
The company has been bootstrapped since it was founded in 2016 by CEO Yoni Tserruya and president Assaf Eisenstein. Tserruya says that the company has been profitable since a few months after launching its product and it has therefore not previously needed funds. But he added that Lusha has now decided to bring in a strategic financial partner to help its expansion.
Lusha's cloud-based platform enables salespeople to share accurate contact and company information with each other, providing sales professionals with vital insights on the customers they target. Lusha also recommends relevant prospects and organizations, eliminating time consuming research and allowing salespeople to focus on selling. The community facilitates salespeople sharing contact information and company insights, which validates Lusha's data and ensures high accuracy. The company's community approach and affordability also ensure that salespeople from organizations of all sizes have access to the data they need to optimize their sales outreach.
The company has 120 employees in its Tel Aviv offices in the Azrieli Towers and is set to open an office in Boston and during 2021 plans expanding its workforce to 200.
Tserruya said, "Our mission is to turn salespeople's business challenges into opportunities by making B2B data easily accessible to all sales professionals. 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 prioritize 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."
Eisenstein added, "In an industry dominated by lengthy sales cycles, organizational buy-in and yearly contracts costing tens-of-thousands of dollars, Lusha's unique approach offers salespeople a much-needed alternative. Salespeople need instant results and access to affordable data. Lusha's simplicity and variety of packages allow them to instantly use Lusha - without the need for company approval or significant investment. We are excited to use the funds raised to further develop technology that makes data available for all salespeople and to take a step closer to our goal of turning Lusha into B2Bs largest data-sharing community."
Lusha's community has already expanded to over 520,000 sales professionals and 167,000 sales organizations. From sole-traders to mid-sized organizations like Aircall and Zendesk, to Fortune 500 companies including Google and Dropbox, salespeople working across all industries and of all sizes are benefiting from Lusha's data community.
Published by Globes, Israel business news - en.globes.co.il - on February 10, 2021
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