Monk, an AI-driven accounts receivable platform, has secured $25 million in a Series A funding round, increasing its total funding to $29 million.
This round was co-led by Footwork and Acrew Capital, with continued support from existing investor BTV. This funding comes on the heels of a $4 million seed round led by BTV in the spring of 2025.
The company plans to allocate the new funds toward research and development as it expands its product offerings in the accounts receivable sector.
Monk aims to address a significant industry challenge, as trillions of dollars are held up in accounts receivable each year. Much of this is handled manually by teams through email, chasing payments, reconciling deposits, and addressing inquiries.
Monk’s platform automates the entire contract-to-cash process, with clients typically experiencing a 40% reduction in days sales outstanding. Moreover, customer accounts receivable teams report saving over 25 hours each month and achieving a 24% increase in collections response rates.
George Kurdin, co-founder and CEO of Monk, emphasized the importance of accuracy in accounts receivable, stating, “AR touches your customers and your revenue — there’s no room for error.”
Kurdin added that they prioritize making the AI sufficiently accurate to manage financial transactions. Each model call is encapsulated in deterministic code and rigorously tested against a variety of scenarios, allowing a small team to oversee more than a billion in receivables for their clients.
Nikhil Basu Trivedi, co-founder and general partner at Footwork, remarked on the challenges of integrating AI into existing workflows. He noted, “We backed Monk because they are among the few teams committed to the rigorous work of embedding this technology effectively.”
Trivedi noted that Monk’s AI-native accounts receivable platform is rapidly gaining traction with innovative companies such as ElevenLabs and Profound, indicating the start of a broader vision to establish a B2B revenue platform suited for the AI era. Footwork is enthusiastic about partnering with Monk to achieve this vision.