AI sales startup Nooks secures $500 million in funding for expansion
FILE PHOTO: A person visits the World Artificial Intelligence Conference in Shanghai, China July 26, 2025. REUTERS/Go Nakamura/File Photo
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
Nov 4 : Nooks has secured a $500 million commitment from General Catalyst’s Customer Value Fund to finance the company’s sales and marketing push, the sales automation startup said on Wednesday.
Unlike traditional investors that buy a stake in a company, General Catalyst’s commitment involves taking a share of the returns its capital helps generate, Nooks CEO Dan Lee said. He declined to give details on the terms of the deal.
Nooks is betting that sales will be the next profession reshaped by AI, after coding, legal work and customer support, and the deal will help the company scale up and launch new products.
“In order to completely transform any industry, you need a lot of capital,” Lee said.
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
“We felt that this was the best way to finance both aggressive growth and also taking new products to market.”
Nooks said it is on track to nearly triple its annual recurring revenue by year-end, but did not disclose the current figure. The company has more than 2,000 customers, including Cursor, Notion, Replit, Glean and HubSpot, and had a net revenue retention of 135 per cent, it added.
The AI startup formally launched its Revenue Agent Platform on Wednesday to cover tasks from first contact to renewal.
“The platform has shown a highly predictable revenue engine and strong unit economics, which is what we look for in companies with CVF. It’s impressive to see that traction so early,” said Pranav Singhvi, partner and co-head of the Customer Value Fund at General Catalyst.
Source: Reuters
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
