Monk Secures $25 Million Series A to Scale AI-Driven Accounts Receivable Platform

Monk has raised a $25 million Series A round to scale its AI-native accounts receivable (AR) automation platform, bringing total funding to roughly $29 million and positioning it as a growing player in AI-driven finance operations.

Key funding details

• Monk raised $25 million in Series A financing.

• The round was co-led by Footwork and Acrew Capital, with continued participation from Better Tomorrow Ventures.

• This follows a prior $4 million seed round in 2025, bringing total funding to about $29 million.

• Monk is based in New York and focuses on AI-native accounts receivable workflows.

What Monk’s platform does

• Monk automates the contract-to-cash lifecycle, pulling data from contracts and systems to manage invoicing, collections, and cash application.

• The platform integrates with ERP and CRM systems to ingest contract and invoice data, generate invoices, send collection emails, manage disputes, and reconcile incoming payments.

• It uses a combination of AI models and deterministic logic to handle financial workflows accurately, especially around payments and customer communication.

• Monk targets manual, email-based AR processes that many B2B companies still rely on, aiming to replace them with automated, AI-driven workflows.

Reported impact and customers

• Monk reports customers see around a 40% reduction in days sales outstanding (DSO) on average.

• AR teams using Monk can save more than 25 hours per month, according to the company’s metrics.

• Customers also reportedly experience about a 24% increase in collections response rates.

• Early adoption is especially strong among AI-native and software companies, with named customers including ElevenLabs and Profound.

Use of funds and growth plans

• The Series A capital will be used to accelerate product development of its AI-native AR platform and expand go-to-market efforts.

• Monk plans to deepen automation across the entire AR workflow, including exception handling and more advanced AI agents for collections and reconciliation.

• The company aims to broaden its footprint in the B2B software and finance operationsmarket, where demand for AI-driven cash flow and AR tooling continues to grow.