Nooks said Nov. 4 that General Catalyst’s Customer Value Fund committed $500 million to expand its AI sales business, with repayment tied to value from sales and marketing spending.
Nooks said the capital will support sales and marketing, development of new products, enterprise and international expansion, and hiring. The company said it had more than 100 open roles at the time of the announcement.
In its announcement, Nooks said the fund would be repaid from customer value generated by its sales and marketing spending. Nooks co-founder and CEO Dan Lee told Reuters the fund would receive a share of returns generated by its capital rather than take a stake in the company. Reuters reported that Lee declined to disclose the deal’s terms.
Nooks said more than 2,000 companies use its products, net revenue retention was 135% and the company was growing about threefold year over year. Reuters separately reported Nooks was on track to nearly triple annual recurring revenue (ARR) by the end of 2026. The company has not disclosed its current ARR.
Nooks announced a $43 million Series B led by Kleiner Perkins in October 2024. The new commitment came alongside the launch of Nooks’ Revenue Agent Platform and Node, which the company describes as an AI assistant for sales.
The company said its Deal, Outbound, Expansion and Coaching agents are running, with Inbound Agents planned for the first quarter of 2027. Lee said in Nooks’ announcement, “AI will make companies want more salespeople, not fewer.”
