Runtime monetization platform brings total funding to over $12M as AI-driven pricing breaks legacy billing architectures

BOULDER, Colo., April 22, 2026 — Schematic, the runtime monetization platform for SaaS and AI companies, today announced $6.5M in new funding, bringing total funding to over $12M. The company will launch its Stripe App on stage at Stripe Sessions next week.

The round was backed by S3 Ventures, MHS Capital, Active Capital, NextView Ventures, and Ritual Capital, with angel participation from the founders of LaunchDarkly, CrowdStrike, and Salesloft.

Schematic sits between a company’s application and its billing system, decoupling pricing and packaging logic from code and enforcing entitlements in product at runtime. Engineering instruments one entitlement check per feature. The plans, limits, and exceptions live in Schematic, controlled by product and commercial teams and synced automatically to Stripe for billing.

“Software used to be deterministic. AI changed that. Value and cost now accrue at runtime, non-deterministically,” said Fynn Glover, co-founder and CEO of Schematic. “Pricing has to be enforced at runtime too. A shadow enforcement system catching webhooks from a billing provider can’t keep up.”

For most of the last decade, B2B software pricing was seat-based and static. The shift to usage-based, hybrid, and AI-driven models has made that architecture untenable. Billing platforms generate invoices and manage subscriptions, but they do not enforce limits and access inside the product. That enforcement is left to engineering teams who build it in-house, often hard-coded, and then maintain it permanently.

“Entitlements is one of the hardest problems in Billing,” said Wisam Hirzalla, a senior product leader at Stripe Billing, welcoming Schematic as an official Stripe App.

Customer Traction

Schematic’s customer base includes Plotly, Automox, Florence, Blackcloak, Sema4.ai, Uniqode, OneCrew, Zep, and Pagos, with zero churn over the past year.

Plotly implemented Schematic in three weeks and launched two new AI products with credit-based pricing in half the time originally budgeted. Five thousand users signed up on the new AI plan.

“Without Schematic, feature entitlements, limits, and access logic is just technical debt waiting to happen,” said Ben Postlethwaite, VP of Engineering at Plotly. “Maintaining this infra in-house slows down product and sales.”

The new funding supports three priorities: deepening the Stripe partnership, building out the monetization control plane for go-to-market teams, and expanding developer tooling and SDKs.

About Schematic

Schematic was founded in 2023 by Fynn Glover, Gio Hobbins, and Ben Papillon. The company builds runtime monetization infrastructure for SaaS and AI companies, decoupling entitlements and pricing enforcement from application code. Schematic is built natively on Stripe Billing and is headquartered in Boulder, Colorado. For more information, visit schematichq.com.

Media Contact: Fynn Glover, [email protected]

SOURCE Schematic

Portfolio activity generates $9.4 million in proceeds during the quarter

NEW HAVEN, Conn., April 22, 2026 — Connecticut Innovations (CI), Connecticut’s strategic venture capital arm, today announced that it invested approximately $6.0 million in 15 companies and venture funds during the third quarter of its fiscal year. In the quarter ending March 31, 2026, CI’s investments leveraged an additional $295.3 million in outside capital.

CI invested approximately $3.0 million in healthcare companies over the quarter and another $2.5 million in the technology sector. The remaining investments were in consumer companies and venture funds.

“This quarter marked a major milestone for our portfolio with Veradermics’ standout initial public offering,” said Kevin Crowley, senior managing director of investments. “The company raised $256 million in its IPO, with shares surging more than 122 percent in its trading debut. This outcome reflects Connecticut’s ability to support and grow successful companies from early innovation through public markets.”

“While this was a lighter deployment quarter, it is consistent with our disciplined approach to capital allocation,” said Peter Longo, senior managing director of investments. “We remain highly selective, prioritizing quality over pace and leaning in when we see truly differentiated opportunities.”

To date, CI has invested $33.5 million, leveraged $638.2 million in outside capital, and generated $57.7 million in proceeds in FY26.

About Connecticut Innovations
Connecticut Innovations (CI) is Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for innovative, growing companies. By offering equity and debt investments, strategic guidance and introductions to valuable partners, CI helps promising businesses thrive. For more information, visit http://www.ctinnovations.com.

Media Contact:
Lauren Carmody
Connecticut Innovations
860.258.7829
[email protected]

SOURCE Connecticut Innovations

Helping providers resolve denials five times faster and cut denial rates by 70%

NEW YORK, April 22, 2026 — Amperos Health, the first insurance revenue recovery partner capable of working denials end-to-end entirely with AI, announced today that it has closed a $16 million Series A funding round, led by Bessemer Venture Partners, with participation from Uncork Capital and Neo.

The raise comes as Amperos launches the industry’s first AI-native denial management and revenue recovery solution for healthcare providers. Amperos’ agentic capabilities provide end-to-end denial and collection automation, while a team of subject matter experts provides judgment and expertise for complex and difficult-to-recover claims. Amperos then delivers detailed insights into how providers can optimize their billing and collections processes to prevent future denials. To date, Amperos has served over 3,000 clinical locations across all 50 states, driving nearly $700 million of revenue recovered per year across over 500,000 claims. 

“Complexity in healthcare revenue cycle management (RCM) should not be the norm, and that’s why our mission at Amperos is to streamline the denial and collections process so providers can focus on what matters most – operating their practices and serving their patients,” said Michal Miernowski, CEO and Co-Founder of Amperos Health. “I’m thrilled to announce our most recent funding round, which will be critical as Amperos accelerates its growth to serve more providers, expands its analytics capabilities and launches new agentic capabilities in other RCM workflows.”

Denials are rising in healthcare today, with 12% of claims denied in 2024, representing a $262 billion loss in revenue to providers. Providers then spend more than $26 billion annually in recovering these denied claims, of which 70% end up getting paid. And yet, 63% of RCM teams are understaffed, while healthcare administration teams face a 32% annual turnover rate.

These statistics exemplify why Amperos has built a new product that can fill gaps in the RCM workforce while recovering more value in denied revenue. The product manages the full denial management process, from following up through insurance portals and calls, to submitting corrected claims, medical records, and appeals.

“Denials are one of healthcare’s fastest-growing pain points: a growing portion of claims denied, hundreds of billions in lost revenue, and RCM teams that are chronically understaffed. It’s a broken process ripe for AI transformation,” said Sofia Guerra, Partner at Bessemer Venture Partners. “What sets Amperos apart is that they’re the first truly agentic AI platform we’ve seen to automate this workflow end-to-end, from portal follow-ups and calls to corrected claims and appeals, with no handoffs and no gaps. We’re excited to see Amperos continue to grow its impact for customers. The results speak for themselves: 22% more recovered per claim at up to 50% lower cost, creating real financial relief for providers who are already operating on razor-thin margins.”

While other solutions on the market typically automate only part of the denial management process – like calling, writing appeal letters, or navigating payer portals – Amperos is the first and only product in the market to automate end-to-end workflows for denial teams. Amperos uses state-of-the-art LLMs across voice, computer use, and more to complete entire collections workflows and maximize reimbursement at the lowest cost to collect.

“Our partnership with Amperos has helped ease the workload that comes with recovering unpaid claims and insurance collections tremendously,” said Valerie DeCaro, Vice President of Revenue Cycle Management at DOCS Dermatology. “By helping my team work through time-consuming tasks faster and focus on more complex needs, we’ve been able to recover 24% more claims without increasing headcount. DOCS Dermatology is a provider-first organization, and Amperos Health ensures that our providers are properly compensated for the care they give.”

Amperos Health continues to serve as a partner to providers, building upon the company’s $4.2 million seed funding announcement in June 2025. By empowering teams to challenge the notion that healthcare RCM is inherently complex, Amperos is leading a new standard in healthcare where providers can navigate RCM with ease.

About Amperos Health:
Amperos Health is healthcare’s first AI-native denial management and revenue recovery solution designed specifically for healthcare providers to combat denials and streamline claims collections for revenue cycle management (RCM) teams. Fully HIPAA-compliant and equipped with bank-level security, Amperos empowers teams to resolve more denials, recover more revenue, and significantly improve RCM team productivity and recovery rates. To learn more, visit www.amperos.com.

Media Contact
Jared Rosen
213-218-0287
[email protected]

SOURCE Amperos Health

Mosaic is building the operating system for the world’s most sophisticated investors and their advisors by automating the deal modeling analyses historically built and maintained manually in Excel. Mosaic combines deterministic, rules-based calculations with AI-driven ingestion and agentic workflows to help deal teams move faster, reduce spreadsheet errors, and focus on applying investment judgment rather than performing mechanical tasks.

Today, Mosaic is used by leading private market institutions including Warburg Pincus, Bridgepoint, CVC, New Mountain, and Evercore. Customers report up to 20x faster completion of core deal analyses such as LBOs and DCFs while completely eliminating spreadsheet “mis-link” errors through Mosaic’s rules-based modeling engine.

In 2025, Mosaic was selected by five of the top ten global private equity firms as their AI-driven deal modeling platform of choice, and by two of the world’s most prolific investment banks to reimagine how they model and analyze transactions for clients.

“Before Mosaic, thousands of investors (myself included) spent hundreds of hours iterating on generic spreadsheet templates to rebuild and refine the same calculation scaffolding for each new investment opportunity,” said Ian Gutwinski, Founder & CEO of Mosaic. “Yet all those hours do nothing to improve investment outcomes. We built Mosaic so investors and bankers can spend less time linking and more time thinking. Our platform gives users the speed of automation and the reliability of deterministic calculations, so they can trust the analysis every time.”

Unlike Excel copilots and other probabilistic approaches, Mosaic’s modeling engine is designed to produce replicable, audit-ready outputs that teams can standardize across workflows, creating a foundation for institutional memory and better decision-making over time. As all models are created and stored in a centralized, standardized database siloed to each client, firms can increasingly analyze underwriting patterns across their proprietary deal data and benchmark assumptions against actual outcomes.

Mosaic Autopilot: Agentic Modeling From a Single Email

Mosaic’s flagship agentic AI feature, Mosaic Autopilot, enables users to kick off model creation via an emailed prompt to Mosaic’s agent, “Mo,” who ingests supporting documents (including CIMs), applies firm-specific defaults, and generates an “MD-ready” model in an email reply within 5 minutes.

“When I worked in Investment Banking and Private Equity, I was always shocked at how much time some of the most expensive talent in the world spent trying to fix broken models with sheer brute force”  said Ryan Shannon, Partner at Radical Ventures, who himself used to spend hundreds of hours updating deal models as an Associate at Private Equity giant TPG. “With Mosaic, that same expensive talent can instead spend their time thinking about the crucial decisions that separate good investments from great ones.”

Use of Funds

Mosaic will expand its New York-based team across:

• Engineering & product, to expand workflow coverage and scale enterprise deployments
• Customer enablement, to support training and adoption across enterprise clients
• Go-to-market, to expand Mosaic’s presence across private equity, private credit, and investment banking firms

Mosaic currently has 16 employees and expects to grow to 40+ by the end of 2026.

Board Updates

As part of the Series A, Ryan Shannon, Partner at Radical Ventures, and Troy Pospisil, Founder & CEO of legal tech leader Ontra.ai (and Mosaic’s first investor), will join Mosaic’s Board of Directors. John Megrue, Vice Chairman of Radical Ventures and former CEO of Apax, will serve as a strategic advisor to Mosaic’s CEO.

“There’s a ton of noise in the financial services world right now when it comes to AI tools. Unfortunately, the vast majority of these offerings overpromise and underdeliver, and are not delivering real value to firms,” said John Megrue. “Mosaic is a rare exception of a team that deeply understands what the top investment banks, private equity funds, and private credit funds need, and is one of the few products actually delivering value today.”

“I’m excited to be joining Mosaic’s Board after backing the company early as a personal investor,” said Troy Pospisil. “Mosaic is tackling a complex problem for a market I care deeply about, and I believe Ian and the world-class team he’s assembled around him possess the unique mix of industry experience, technical depth, and relentlessness to actually change embedded behavior that hasn’t evolved in 50 years. Amidst an AI hype cycle, Mosaic is sticking to the first principles of entrepreneurship that I admire: being customer-obsessed and using every available technology and resource – whether AI, workflow, or world-class support – to deliver outcomes that its customers truly value.”

Learn More

To book a demo, visit https://www.mosaic.pe/demo

To explore open roles, visit https://mosaic.pe/careers

About Mosaic

Mosaic is the leading AI-driven deal modeling platform for private markets. The company automates and standardizes fundamental analyses, such as LBOs and DCFs, using deterministic, rules-based calculations combined with AI-powered ingestion and agentic workflows. Mosaic helps private equity firms, private credit firms, hedge funds, and investment banks reduce time spent on mechanical modeling work and increase time spent on investment judgment.

Less time linking, more time thinking.

About Radical Ventures

Radical Ventures is a Toronto-based venture capital firm focused exclusively on investing in artificial intelligence and deep technology. Founded in 2017, the firm partners with early and growth-stage companies building transformative AI applications across science, industry, and technology. Radical manages more than US$2.5 billion in assets and has invested in category leaders such as Cohere, Waabi, World Labs, and Writer AI.

Press Contact
Manasa Grandhi
Director of Operations
[email protected]
https://mosaic.pe

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HELSINKI, April 22, 2026 — Realm has raised a $4.5 million Seed round to speed up enterprise sales cycles. Its platform gives AI the structured context needed to automate deal-defining materials like RFP responses. The round was led by Frontline Ventures, with participation from HubSpot Ventures, Slack Co-founder Cal Henderson and Deel Co-founder Alex Bouaziz.

Realm CEO Mikko Mäntylä believes revenue work is next to undergo the agentic revolution that has already transformed software development.

“Tools like Cursor and Claude Code have fundamentally changed programming. Developers now manage fleets of agents, often running five to ten simultaneous tasks in different terminal windows,” Mäntylä says. “The best revenue teams are starting to replicate this approach, offloading RFP responses, security questionnaires, and other customer-facing materials to AI.”

However, the shift is still held back by a fundamental constraint. Unlike in software development, where the codebase provides structured context for AI, revenue teams work with fragmented systems and unstructured data. Critical information, such as why a deal was won, has to be pieced together from subtle, scattered signals.

Realm solves this by turning raw information into a structured representation of a company’s market, products, pipeline, and strategies. This purpose-built context graph mirrors how human sellers are onboarded and gives agents the foundation they need to contribute effectively.

“Our customers use Realm to draft their most important deliverables, from multi-million dollar bids to business cases that will make or break months of work,” Mäntylä says. “Typically, 70-80% of Realm’s work is approved as-is. Any edits feedback into Realm’s context, creating a compounding record that everyone in the organisation benefits from.”

That institutional memory extends beyond Realm’s own application. The platform integrates with Slack, CRMs, and AI assistants like Claude and ChatGPT, allowing teams to leverage Realm’s context and agents wherever they already work.

“The GTM stack has been built to record and report on what has already happened,” says George Radford from Frontline Ventures. “The emerging paradigm is tools that actually do the work, and Realm is building at the forefront of this shift. The team’s exceptional execution velocity and the rate at which customers are expanding usage convinced us Realm is the right team to back.”

The company will use the fresh funding to triple its team by the end of the year and accelerate its entry into the US.

About Realm

Realm builds a structured understanding of a company’s go-to-market and turns it into execution. As a result, work like RFPs, security reviews, and deal coordination happens in the background, not at the expense of time with buyers. Founded in 2023 by former Slush leaders Mikko Mäntylä and Miika Huttunen alongside Johan Jern, Realm is headquartered in Helsinki, Finland. Realm’s customers include Visma, Aiven, and Hostaway. Learn more: https://www.withrealm.com/ 

About Frontline Ventures

Frontline Ventures backs the most ambitious tech companies across the US and Europe, and positions them to win the transatlantic market. Frontline Seed backs European Seed startups when early US traction is critical to hyperscale. Frontline Growth backs US scaleups at Series B-D when European revenues are essential to IPO-readiness. Frontline Ventures’ portfolio includes companies like Navan, Lattice, and Vanta. Learn more: https://frontline.vc/ 

About HubSpot Ventures

HubSpot Ventures partners with ambitious entrepreneurs who are redefining how businesses grow and operate. The fund backs early- and growth-stage software companies building products that deliver unique value to HubSpot’s customer base, with a mission to help millions of organizations grow better. HubSpot Ventures’ portfolio includes companies like Clay, ElevenLabs, and Lovable. Learn more: https://www.hubspot.com/ventures. 

Media Contact
Mikko Mäntylä
CEO & Co-founder
[email protected] 

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Founded by the research team behind one of the most established AI agent labs in the country, NeoCognition aims to build agents that learn on the job to become specialized experts.

SAN FRANCISCO, April 21, 2026 — NeoCognition, a research lab developing self-learning AI agents, today announced its emergence from stealth with a $40 million seed funding round.

The oversubscribed round was co-led by Cambium Capital and Walden Catalyst Ventures, with participation from Vista Equity Partners and others. Angel investors and founding advisors include Lip-Bu Tan, CEO of Intel, Ion Stoica, Co-Founder and Executive Chairman of Databricks, A&E Investments, Salience Capital Partners, Nepenthe Capital, Frontiers Capital, and leading AI researchers like Dawn Song, Ruslan Salakhutdinov, and Luke Zettlemoyer, among others.

Yu Su, CEO and Co-Founder at NeoCognition and Sloan Research Fellow, leads one of the most established AI agent labs in the country at the Ohio State University. Su’s team began developing large language model-based agents well before the ChatGPT moment. Over the years, they contributed a series of seminal and award-winning work, such as Mind2Web, MMMU, and SeeAct, that helped lay the foundation of the modern AI agent field. Research from their team is widely used in every frontier large language model from OpenAI, Anthropic, and Google.

“Dr. Su and his team have already developed research that spans every piece of the agent puzzle, ranging from perception to memory, planning, evaluation, and safety,” said Lip-Bu Tan, Founding Managing Partner of Walden Catalyst Ventures. “We are confident NeoCognition is uniquely positioned to tackle the hardest challenges in agentic AI.”

Coming out of stealth, NeoCognition’s research will create a new class of AI agents that continuously learn the structure, workflows, and constraints of the environments they operate in, and specialize into domain experts by learning a world model of work. In doing so, the expert agents become faster, more cost-effective, and more reliable. Deeper understanding of their environments also enables NeoCognition’s agents to be more responsible and safer actors in high-stake settings.

“AI today is fundamentally unreliable when it comes to executing real work that requires deep expertise,” said Yu Su. “The true power of human intelligence is the ability to continuously learn and specialize. Our approach mirrors how humans gain expertise on the job through building a structured model of their micro-world, and would eliminate the extensive manual customization required by current models.”

“As general-purpose agents become table stakes, the key challenge in AI is achieving expert-level intelligence,” said Ion Stoica, UC Berkeley Professor and Databricks Co-Founder. “NeoCognition’s new approach to building agents that learn to become experts has the potential to reach the level of reliability, efficiency, and cost-effectiveness required for high-stakes applications.”

“At the core of NeoCognition is a novel learning mechanism that will allow agents to specialize very quickly,” said Landon Downs, Managing Partner at Cambium Capital. “We have strong conviction in the team’s expertise and believe their research is charting a new path toward specialized intelligence that will democratize access to frontier agent capabilities.”

About NeoCognition
NeoCognition is the AI agent lab for specialized intelligence. Founded by leading AI researchers Yu Su, Xiang Deng, and Yu Gu, the company’s mission is to expand access to expertise by developing AI agents that continuously learn to reach expert-level intelligence. The company has $40M in committed seed capital, is backed by world-class researchers, and is headquartered in Palo Alto, California.

SOURCE NeoCognition.io

COSTA MESA, Calif., April 21, 2026 — CerraCap Ventures investment in Nephronomics reflects strategic conviction of backing platforms that transform fragmented healthcare systems into predictive, precision-driven ecosystems.

Nephronomics is a next-generation AI-bio precision medicine company. The company is building one of the world’s most comprehensive clinical and genomic data sets focused on cardio-kidney-metabolic (CKM) disease—a rapidly emerging framework that links cardiovascular, kidney, and metabolic disorders into a unified disease model.

Nephronomics’ moat is built on data— in this AI era, data matters more than models. It has exclusive access to the largest renal dataset globally, spanning 42,000+ patients across a significant portion of U.S. dialysis clinics. This scale is difficult to replicate, positioning the company as a leader in data-driven kidney disease innovation.

Nephronomics is translating this proprietary dataset into actionable biological insight using advanced machine learning. Its platform leverages state-of-the-art capabilities—including protein modeling, variant-effect prediction, and generative design—to identify new disease subtypes, uncover causal mechanisms, and develop novel therapeutic targets.

This approach enables a shift from correlation to causation in drug discovery—accelerating the development of precision therapies that directly address disease-driving molecular pathways.

The opportunity is significant, with chronic kidney disease affecting 14% of the U.S. population and 850 million people globally. Despite over $141 billion in annual U.S. spending, kidney disease remains under-researched, creating a clear gap for precision medicine approaches. The company intends to develop a pipeline of internal therapeutic programs while also partnering with pharmaceutical companies to accelerate drug development.”

For CerraCap, the investment aligns with its focus on backing AI-native infrastructure that enables systemic transformation across industries.

“This is not simply about applying AI to existing workflows,” Vikas Datt – CerraCap leadership noted. “It’s about enabling an entirely new intelligence layer for healthcare and life sciences. Nephronomics, will not only accelerate innovation in kidney disease but also demonstrate how the future of medicine will be built: on intelligent systems powered by data, driven by insight, and scaled through strategic ecosystems.”

For Nephronomics, the partnership brings more than capital—it adds strategic leverage.

“CerraCap shares our conviction that the ESKD population represents one of the most genetically informative cohorts in CKM disease — enriched signals of both protective and harmful variants that are uniquely powerful for therapeutic target discovery,” said Deniz Kural, Chief Science Officer and Founder of Nephronomics. “Their experience backing applied AI companies and their investment here supports our work translating those signals into precision therapies across the cardio-kidney-metabolic spectrum.”

CerraCap Ventures, a Southern California based early-stage venture capital firm, is dedicated to B2B enterprise-grade technology investments focused on the new fundamentals of digital innovation that are aligned to its core thesis of Healthier, Secure Planet. CerraCap Ventures enables rapid growth of startups by leveraging its distinctive Sales & Scale™ Business Model and driving revenue from large enterprises into its portfolio companies. www.Cerracap.com

Nephronomics, a joint venture between Mechanica Partners and Fresenius Medical Care, is assembling the world’s largest vertically integrated cardio-kidney-metabolic (CKM) disease database and deep learning model with >42,000 patients consented. The Nephronomics Atlas contains matching whole genome and longitudinal clinical data of patients with advanced CKD and ESKD including comprehensive laboratory data, diagnosis histories, treatments, and raw radiology images. For more information, please visit www.nephronomics.com.

Contact: Nikki Arora, [email protected]

SOURCE CerraCap Ventures

Transaction refinances existing debt, lowering cost of capital and facilitates growth

LOS ANGELES, April 21, 2026 — Salem Partners is pleased to announce that ValpakClipp (the “Company”), a leading provider of marketing and advertising solutions across direct mail, digital, and data-driven platforms, has successfully refinanced its debt facilities through a $140 million senior term loan and revolving credit facility (the “Facility”). Wells Fargo served as the agent bank for a group of lenders to the Company, and Salem Partners advised the Company and structured the transaction.

The transaction was led by Wells Fargo as Administrative Agent and Lead Arranger, with First Horizon Bank and UMB Bank participating in the syndicate. Salem Partners was engaged by the Company on an exclusive basis to structure, source, and execute the Facility, which refinanced the Company’s existing senior loan facility, as well as loans from Trive Capital and Eldridge Industries.

Salem Partners has a history of successful transactions with the Company. In 2023, Salem Partners advised the Company in the acquisition of Valpak, with financing led by Trive Capital and Blue Torch Capital. In 2024, Salem Partners advised the Company on the refinancing of its loan with Blue Torch, further optimizing its capital structure and enhancing financial flexibility.

Brad Wiginton, Partner at Trive Capital comments, “We appreciate the support from Wells Fargo and the rest of the bank group, who collectively recognized the Company’s strong market position, the resiliency and efficacy of direct mail, and the talented team leading the business. ValpakClipp is in a unique position to continue to grow and deliver a wide range of advertising solutions to both small business owners and national advertisers; we are excited about what lies ahead for the business.”

John Amato, CEO of ValpakClipp comments, “This transaction is a defining moment for our company. It streamlines our capital structure, provides significant capacity for future growth, and establishes a banking group that is fully aligned with our long-term ambitions. Just as importantly, it marks the successful culmination of our strategy to build the market-leading platform in cooperative direct marketing. With this financing in place, we are exceptionally well positioned to invest in growth, serve our customers at an even higher level, and create long-term value for our employees and shareholders.”

Stephen Prough, Managing Director of Salem Partners, commented, “We are pleased to have advised ValpakClipp on this successful refinancing. The strong support from a high-quality bank syndicate underscores the Company’s market leadership, resilient business model, and continued momentum across its core offerings. This transaction positions the Company well for its next phase of growth.”

About Salem Partners

Salem Partners is a boutique financial services company that offers high-touch wealth management, investment banking and merchant banking services. Founded in 1997, Salem Partners has built its business with a focus on delivering unparalleled service through experience, collaboration, and dedication to client success. Salem Partners is headquartered in Los Angeles and has offices in Dallas and San Francisco. For more information, please visit www.salempartners.com.

About Trive Capital

Trive Capital (“Trive”) is a Dallas, Texas based private equity firm with more than $8 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas. The Trive team is comprised of seasoned investment professionals who have been involved in over 250 middle-market transactions representing in excess of $10 billion in revenue across Trive’s targeted industry sectors and situations.

Media Queries
[email protected]

SOURCE Salem Partners

NEW YORK, April 21, 2026 — Monk, the AI-native accounts receivable platform, today announced a $25 million Series A co-led by Footwork and Acrew Capital, with continued participation from BTV. The round brings total funding to $29 million, following a $4 million seed led by BTV in spring of 2025.

Trillions of dollars are trapped in accounts receivable every year — most of it via email, managed by teams manually chasing payments, answering questions, and matching deposits to invoices. Monk deploys AI to automate the full contract-to-cash lifecycle, delivering on average a 40% reduction in days sales outstanding, 25+ hours per month saved for AR teams, and a 24% higher collections response rate.

“AR touches your customers and your revenue — there’s no room for error,” said George Kurdin, Co-Founder and CEO of Monk. “We obsess over making AI accurate enough to handle real money. Every model call is wrapped in deterministic code and tested against thousands of edge cases. That’s what lets a small team manage over a billion in receivables for our customers.”

Monk will use the new capital to invest in research & development and continue to build category-defining products in the accounts receivable space.

“The challenging part of building in AI is diffusing the technology into the workflows that run the economy. We backed Monk because they’re one of the few application-layer teams willing to do the hard work,” said Nikhil Basu Trivedi, Co-Founder and General Partner at Footwork. “Monk’s wedge, an AI-native accounts receivable platform, is rapidly gaining adoption amongst AI-native companies like ElevenLabs and Profound, and is the beginning of a much broader vision to be the B2B revenue platform for the AI era. We at Footwork could not be more excited to partner with George, Joe, and the team to realize this.”

Monk was co-founded by George Kurdin and Joe Zhou. Previously, Kurdin worked at D.E. Shaw, Minecraft, and Streamlabs. Zhou is an engineer who held roles at Google and Snap. The company is headquartered in New York.

About Monk

Monk is an AI-native accounts receivable platform that automates the full contract-to-cash lifecycle for B2B companies — from invoicing and collections to cash application and dispute resolution. For more information, visit monk.com.

Media Contact:
Nurah Kutty
[email protected]

SOURCE Monk