From bootstrapped to $40 million, Israeli B2B data community platform startup Lusha secures series A funding
We love writing about startup success stories because that’s primarily what our site is about. It brings us joy when startups succeed. In addition, bootstrapping a startup from nothing to a multi-million business takes hard work, resilience, perseverance, focus, and dedication. Lusha is a Tel Aviv, Israel-based tech startup and a crowdsourced data community and sales intelligence platform which empowers B2B sales professionals to identify, engage and close qualified prospects thanks to accurate and accessible data. Over the years, Lusha has enjoyed substantial organic growth as a bootstrapped startup.
After five years of organic growth as a bootstrapped company, Lusha thinks it’s time to seek outside funding to scale their B2B community and expand operations globally. Lusha was founded by Assaf Eisenstein and Yoni Tserruya. Since its inception in 2016, Lusha’s community has expanded to over 520,000 sales professionals and 167,000 sales organizations including Facebook, Google, Dropbox, and Uber.
Today, Lusha announced it has raised $40 million in a Series A funding round from PSG, a leading growth equity firm partnering with lower middle-market software and technology-enabled service companies. The funding will allow Lusha to further grow its sales community to make accurate data accessible to all B2B sales professionals through simple and cutting-edge sales technology.
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 cumbersome research and allowing salespeople to focus on what they do best – sell. 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.
“Our mission is to turn salespeople’s business challenges into opportunities by making B2B data easily accessible to all sales professionals,” said Yoni Tserruya, Co-Founder & CEO of Lusha.
“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.”
Lusha recommends relevant prospects and organizations, eliminating cumbersome research and allowing salespeople to focus on selling. Lusha’s community approach ensures that salespeople from organizations of all sizes have access to accurate sales data.
“Lusha’s core contact information database is one of the most comprehensive and accurate in the industry and solves a critical pain point in the B2B lead generation workflow, particularly in the remote work environment,” said Adam Marcus, Managing Director at PSG. “In a short period of time, Lusha’s talented team has set the company on an impressive trajectory with a highly capital-efficient business model, and we’re thrilled to have the opportunity to support their continued growth and innovation.”
“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,” said Assaf Eisenstein, Co-Founder & President of Lusha. “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.