Walnut snaps up fresh capital after growing 700% in four months

The company that creates sales and marketing demo experiences secured a new round of $35 million in Series B financing.

The no-code platform of Walnut allows teams to create demos quickly, be able to integrate them into their sales and marketing processes and then generate insights from the demos.

The company has grown 70% in annual recurring revenue since the Series A. It is working with over 100 customers, including Adobe, Dell, Medallia, and ContractBook.

Vilner said they got a lot of interest from investors after publishing the announcement. The original plan was to raise later on, but with the way we were going, I felt that this was the right time. Three months between rounds is unusual, but what we were building was ready for more money.

The company has received $56 million in total funding to date. Vilner and co-founder Danni Friedland were interested in Felicis' fund for Software as a Service and thought it would be the right fit.

Felicis is joined by existing investors NFX, Eight Roads, A Capital, and a group of strategic angel investors.

Vilner said that the new funding will allow the team to grow from 55 to 100. The company will focus on technology and product development.

He said that they will be able to meet the demand and grow their manpower across countries. We are building a new category that doesn't have a name yet, but our goal is to change the sales space.

The company is helping go-to-market teams interact with customers and is being led by Felicis general partner and vice president Jake Storm. Faga said that it became harder when people weren't interested in talking to sales people.

She believes that it was the right time for a tool to be used. The company saw marketing and customer success teams use the technology. Storm sees a push for more efficient sales growth and bottom-up growth.

When we met Yoav and Danni, we knew that they were going to build a huge team, and after we saw the waitlist of users begging to use, we knew it was the solution needed in the world.

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