tech
Jack Altman's first Benchmark deal is an AI sales startup growing its revenue by 'seven figures' every month
The raise is the latest example of how quickly capital is moving into AI startups that are demonstrating strong revenue growth.
TL;DR
- Monaco, an AI sales automation startup, raised $50 million in a Series B funding round led by Benchmark.
- The company, which launched in February with no revenue, claims to be adding over $1 million in revenue monthly.
- Jack Altman, Benchmark's newest partner, led the deal and will join Monaco's board.
- Monaco's software automates key sales functions like prospecting, outreach, and pipeline management.
- The startup aims to achieve growth similar to AI coding startup Cursor.
- Returning investors Founders Fund and Human Capital also participated in the round.
- The funding will be used to hire engineers and accelerate Monaco's growth.