• Walnut, a no-code platform to build B2B product demos, raised USD 35 million in Series B funding led by Felicis Ventures with participation from NFX, Eight Roads Ventures, A Capital and a number of angel investors. This round brings the company’s total funding to USD 56 million.

• The funds will be used to grow the company’s employee base in the US, Europe, and Israel from 55 to around 100, as well as develop its technology and product offering.

• The company also announced that it had grown its annual recurring revenue (ARR) by 700% since its previous round of funding in August last year.

• Additionally, Walnut increased its client base to almost 100 SaaS customers from 60 in August 2021.

<ul><li> Analyst QuickTake : This marks Walnut’s second funding round within 2021, as it  raised USD 15 million in Series A funding in August 2021. Reprise and Demostack also offer similar platforms to Walnut, and raised funding in 2021 ( Demostack raised USD 13.3 million in March and Reprise raised USD 62 million in November). All three companies were founded in 2020, and with today’s funding, Walnut narrows the gap in total funding between itself and Reprise, which remains the highest-funded company in our coverage of the demo building no-code platforms, at USD 82.2 million. Earlier this month, another no-code platform to build B2B marketing solutions, Tourial, raised USD 3.4 million in seed funding as well.</ul>