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This startup is Waze for salespeople, hits unicorn status with $205M funding

Image credits: Lusha

For the sales and marketing teams, it could be quite cumbersome to find leads. Israel-based sales intelligence platform for B2B sales, Lusha helps with a crowdsourced database, which helps companies go through the list of potential customers to pick the most likely candidates.

Now, the company has raised $205 million in a Series B funding round, which was led by growth equity firm PSG alongside participation from ION Crossover Partners. With this, the overall funding raised by Lusha accounts for $245 million and values it at $1.5 billion.

For now, Lusha has a community of over 800,000 sales professionals and 273,000 sales organizations, including Google, Facebook, Uber, and Dropbox. It intends to deploy the funds to grow its community of B2B sales and expand its global presence as it continues to enhance its ease of use and data quality.

Background of Lusha!

Lusha was founded by Assaf Eisenstein, an HR tech creator and Yoni Tserruya, a young developer, in 2016 to form the world’s largest crowdsourced data community for B2B salespeople also known as the ‘Waze for salespeople’. Initially, Lusha started off as a developer’s passion project and evolved into one of the largest B2Bs and most respected contact data solutions.

The company provides B2B salespeople of all companies with accessible and accurate data via its self-service products. Sales professionals can identify, engage and close prospects with its prospecting platform, API, and web extension.

Now, Lusha has a team of data-enthusiasts that makes the go-to-market smarter by commoditizing simple and self-service B2B SaaS products.

Easy access to enterprise-grade solutions

It is estimated that salespeople spend nearly 65 percent of their time on administrative and non-sales activities instead of engaging potential customers. Also, this costs a lot of time and money that could be spent on growing the businesses further.

Lusha’s cloud-based B2B sales platform gives sales professionals easy access to enterprise-grade solutions. This way, they can identify their ideal target buyer, and get data-driven insights into their potential customers, when to approach them and why. Lusha provides the most accurate data, which is possible with constant validation and enrichment of the database.

The company intends to provide every salesperson, irrespective of their size or budget, access to the best quality data at the most affordable cost.

What does Lusha do?

The Lusha platform integrates with the company’s existing customer relationship management systems such as Salesforce and Outreach. Also, it offers a browser extension to discover, target, and connect with prospects on LinkedIn or elsewhere. Using its API, sales organizations can update their systems with the company name, industry, size, website, and more. The data is verified by an algorithm and combines data points in order to create single business contacts, as well as, company profiles.

It will review the security and sign the documentation to make sure the data is compliant with the privacy laws including GDPR in Europe and the California Consumer Privacy Act. To remove themselves from the database, companies and contacts can fill a form or request details on how the data is collected and used.

Lusha’s services are used by sales and marketing professionals to create and implement targeted, personalized, and effective marketing campaigns. Notably, such campaigns have ery high conversion rates. It goes without saying that the most effective marketing campaign is the key to higher conversions, which generates more revenue to the business.

Subscription packs

Lusha offers a freemium model that has limited access to data. With the subscription packs, users can unlock more features. It lets sales teams search for the contact information of decision-makers, but it only includes business info. This way, users can give feedback about database entries, thereby improving Lusha’s algorithms and datasets.

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