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Monaco's AI software automates key parts of the sales process, including prospecting, outbound outreach, pipeline management, and customer tracking.
Monaco has raised a total of more than $85 million in funding.
The latest funding round was led by Benchmark, with participation from returning investors Founders Fund and Human Capital.
Monaco had no revenue in February but has since been adding more than $1 million in revenue every month, with revenue accelerating.
Jack Altman is a former Lattice CEO and brother of OpenAI CEO Sam Altman. He joined Benchmark earlier this year and will join Monaco's board as part of the investment.
Monaco plans to use the additional capital to hire engineers and accelerate its lead in the market.
Monaco competes with incumbents like Salesforce and HubSpot, as well as newer AI-native challengers such as 11x, Artisan, and Aurasell.
Monaco aims to be known as the 'Cursor of sales,' referring to the popular AI coding startup, indicating a focus on speed and efficiency in sales automation.
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