Monk Raises $25M to Help Businesses Get Paid Faster
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Today we are announcing a $25 million Series A co-led by Footwork and Acrew, with BTV returning from Seed.
Accounts Receivables (AR) is at $3T in the U.S. alone. AR is left behind.
ERPs transformed operations. CRMs transformed customers. AP eliminated the manual work of paying bills. Getting paid stayed the same. Payments chased by hand. Deposits matched in spreadsheets.
What surprised us is how much of the AR pain was accepted as fact.
Every company is asking where AI can make a measurable difference. AR is the problem LLMs were built to solve.
With our customers we invented a new category: intelligent collections.
Most AR tools automate the easy parts and leave the hard parts to your team. We built for the hard parts: edge cases, portal uploads, PO mismatches, disputes.
Customers see a 40% reduction in DSO, a 24% higher collections response rate, and 26 hours a month back in time savings.
We are grateful to our customers for the trust and are excited to continue to re-earn it every day.
Category-defining companies are built by exceptional people. We are searching for ours.
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