Lusha Reaches $1.5 Billion Valuation with $205 Million Funding to Build The Largest Crowd-Sourced Data Community for Salespeople
Lusha's sales intelligence platform enables easy access to accurate business data for all B2B sales and marketing teams
TEL AVIV, Israel - Lusha, the crowdsourced data community for B2B sales and marketing professionals, announced today that it has raised $205 million in a Series B funding round, which values the company at $1.5 billion and achieving unicorn status. The round was led by PSG, a growth equity firm partnering with middle-market software and technology-enabled services companies, with additional investment by ION Crossover Partners, bringing total investment in the company to $245 million. With these funds, Lusha plans to grow its 800,000 strong community of B2B sales professionals into the industry's largest, by expanding its global presence, and continuing to improve its data quality and ease of use.
Until recently, B2B sales and marketers were using a "spray and pray" approach, reaching a high volume of potential customers with low relevance. As a result, salespeople spend around 65% of their time on non-sales and administrative activities, rather than engaging potential customers. This costs time and money that could be otherwise spent on growing businesses. Lusha's cloud-based platform provides sales professionals and teams easy access to enterprise-grade solutions, to identify their ideal target buyer, and gain data-driven insights on who they approach as a potential customer, when and why. The community members enable Lusha to provide the most accurate data through constant validation and enrichment of its database.
"Similar to the shift that marketing underwent a decade ago, sales professionals are abandoning spray and pray outreach, in favor of super-targeted selling based on data," said Yoni Tserruya, CEO & Co-Founder of Lusha. "Lusha enables all salespeople to utilize data to recognize their most relevant opportunities and maximize revenue in a simple, easy to use solution. We look forward to using this funding to be at the forefront of this industry shift and grow Lusha into the largest B2B sales community".
"Lusha's innovative products and leading data have disrupted decades-old market inefficiencies for sales professionals," said Adam Marcus, Managing Director at PSG. "We're excited to extend our partnership with Lusha's talented team as they continue to deliver category defining products and services."
"We have been following Lusha's progress over the last two years and found the team's vision and execution highly impressive. As sales teams continue to leverage data to drive their go-to-market strategies, Lusha is becoming an integral product for teams to optimize their outreach to improve overall win rates. With Lusha's data significantly increasing the value and ROI realized by sales teams, we are excited to be a part of this next chapter in Lusha's remarkable journey," said Gili Iohan, General Partner at ION Crossover Partners.
"Our primary goal is to give every salesperson, regardless of size or budget, access to the highest quality data at the most affordable price, while championing world-class standards of privacy and compliance. With this funding round, we will continue to invest highly in our data infrastructure and privacy standards to provide optimal levels of compliance and security for Lusha's 800,000+ community members," said Assaf Eisenstein, Co-founder and President of Lusha.
Lusha is 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. 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 was founded in 2016 by Assaf Eisenstein and Yoni Tserruya and is headquartered in Tel Aviv, Israel. Lusha's community has expanded to nearly 800,000 sales professionals and 273,000 sales organizations including Facebook, Google, Dropbox and Uber. For more information, visit www.lusha.com.
PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 85 companies and facilitated over 325 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London. To learn more about PSG, visit www.psgequity.com.
ION Asset Management Ltd. is an Israel-based investment management company, with AuM of approximately USD 2.7 billion, investing across private and public markets. ION Crossover Partners (ICP) invests in fast growth private technology companies when the business is in its global expansion phase and has a substantial customer and revenue base. The fund's experienced investment team provides support for management teams in scaling their business by utilizing a strategic toolkit that includes IPO preparation. Recent investments include Fiverr, Monday.com, SimilarWeb, Taboola among others. For more information, visit www.ion-am.com.