General Catalyst's Customer Value Fund has made a $500m financing commitment to Nooks to fund its sales and marketing push. Nooks said the financing will also help it scale up and launch new products.
Unlike traditional investors that buy a stake, the commitment involves taking a share of the returns the capital helps generate, Nooks chief executive Dan Lee said. He declined to give details on the terms. Lee said: "We felt that this was the best way to finance both aggressive growth and also taking new products to market."
General Catalyst describes the Customer Value Fund as an alternative to relying solely on equity or debt, funding customer acquisition for companies after product-market fit. 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."
Nooks is based in San Francisco and develops AI software for sales teams. It formally launched its Revenue Agent Platform on 4 November 2026, covering sales tasks from first contact to renewal. Nooks said it is on track to nearly triple its annual recurring revenue by year-end, although it did not give the current figure. It has more than 2,000 customers, including Cursor, Notion, Replit, Glean and HubSpot, and reported net revenue retention of 135%.
Nooks was co-founded in 2020 by Stanford classmates Dan Lee, Rohan Suri and Nikhil Cheerla. It previously announced a $43m Series B on 24 October 2024 led by Kleiner Perkins, with participation from existing investors Lachy Groom and Tola Capital, bringing total funding to $70m.
Undiluted has recently covered other Customer Value Fund financings, including $320m of growth financing for Otter.ai in October 2026 and a $60m facility for Collective alongside its $40m Series B in the same month.