General Catalyst's Customer Value Fund commits $500 million to Nooks
Nooks, a startup using AI to automate sales, has secured a $500 million commitment from General Catalyst's Customer Value Fund.
Instead of taking company shares, the investor will take a share of the returns its capital helps generate.
The cash will help Nooks scale up and launch new products.
Nooks nears triple annual recurring revenue
Nooks is on track to nearly triple its annual recurring revenue by year's end.
With over 2,000 clients like HubSpot and Replit already on board and a strong 135% net revenue retention rate, they're pushing their new Revenue Agent Platform to make the whole sales process smoother, from first hello to contract renewal.
Pranav Singhvi, partner and co-head of the Customer Value Fund at General Catalyst, said, "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."