From AI Insider · James Dargan · · 50s
Nooks Secures $500M Commitment From General Catalyst
Nooks gets $500m from General Catalyst to scale AI sales platform.
In brief
Nooks gets $500m from General Catalyst to scale AI sales platform. Nooks secured $500 million from General Catalyst's Customer Value Fund to expand its AI sales platform without taking equity. Originally reported by AI Insider.
Nooks Secures $500M Commitment
Nooks, a sales automation startup, has secured a $500 million commitment from General Catalyst’s Customer Value Fund to finance its sales and marketing expansion.
AI Sales Platform Expansion
CEO Dan Lee explained that General Catalyst will receive a share of returns generated by its capital, not an equity stake, to fund aggressive growth and new products.
Revenue Growth Targets
Nooks aims to nearly triple annual recurring revenue by year-end with 2,000 customers including Cursor, Notion, Replit, Glean and HubSpot, and 135% net revenue retention.
The key point
Nooks secured $500 million from General Catalyst's Customer Value Fund to expand its AI sales platform without taking equity.
