San Francisco-based SaaS demo platform Demostack raises US $34 million in Series B

Demostack, a San Francisco, California-based startup that creates a “demo experience” platform for SaaS sales teams, announced on 19th April 2022 that it has raised US $34 million in a Series B round led by Tiger Global Management and including Bessemer Venture Partners, Amiti Ventures, GTMfund, Operator Collective, and StepStone.

The funds will be used to expand the company’s footprint by investing in R&D, sales, and marketing across the United States, Europe, the Middle East, and Africa.

What the founder has to say:

CEO- Demostack- Jonathan Friedman:

Friedman says he got the concept for Demostack while working at TripActions, where he was in charge of their Liquid expenditure management software. He noticed that while the Liquid R&D team was working on the live product, sales needed a demo version of the product.

“I set out to see how other companies dealt with this demo environment dilemma, but no one seemed to have a solid solution. The demo is the proof behind your proposition, so getting it right is critical for your sale.

Demostack’s proposal isn’t groundbreaking. Reprise is a comparable platform that allows software firms to build product tours and demonstrations. Walnut, for example, provides a tool that will enable sales teams to generate custom demos that showcase specific application capabilities.”

More about this industry and company:

Friedman co-founded Demostack with Aaron Hakim and Gilad Avidan in 2020. Friedman is a founding employee of Reactful, which uses machine learning to identify visitor behavior and intent on websites. He previously worked at TripActions as the head of the product strategy for two years.

It’s becoming more challenging to compete for enterprise IT dollars, with the average employee using at least eight SaaS apps that cost $2,884 per month in subscriptions. Demos are one of the most potent weapons in a sales team’s armory for standing out. According to a survey conducted by Matrix Partners managing partner David Skok, demo closing rates for most business-to-business SaaS startups vary between 20% to 50%, higher than the average close rate range in the software industry (about 26 percent to 30 percent ).

Friedman said, “We’ve invented something unique for the market: the capacity to make customized product demos for every live sale call in minutes.”

BlueVoyant, Hopin, Wix, Ironclad, and Gusto are among the company’s dozens of clients, and it has raised US $51.5 million in venture funding.

We try our 2022 best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!

 Next Article