Lusha, the crowdsourced data community for B2B sales and marketing professionals, announced this week that it has secured $205 million in a Series B funding round, which has driven the company’s valuation to some $1.5 billion.
This ups the company to unicorn status — or a private firm with a valuation of over $1 billion.
Growth equity firm PSG, which partners with middle-market software and technology-enabled services companies, led the round with additional investment by ION Crossover Partners, bringing total investment in the company to $245 million.
Lusha, which currently has at least 800,000 sales professionals in its community, is looking to expand its global presence and become the world’s leader in the field. The company’s cloud-based platform enables sales professionals and teams to develop an increasingly targeted approach to – using data-driven insights – to connect with likely potential customers, instead of reaching a high volume of targets with a lower chance of success.
“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.”
Yoni Tserruya, CEO & co-founder of Lusha said that the company “enables all salespeople to utilize data to recognize their most relevant opportunities and maximize revenue in a simple, easy-to-use solution.”
“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.