Monk.com raises seed round to automate invoicing and collections for SMBs using AI

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Only adqu combines technology, out of home expertise and data to enable efficient, seamless ad buying across the globe. We are joined by George from Monk. Next, the monk himself. Welcome to the show, George. What's happening? Hey guys, how are you? Thanks for having me. Uh, you kick us off with an introduction.

Uh, you launched the company. How are you, uh, positioning uh, the value proposition, the business? How are you explaining the business these days? Yep. We're monk. com. We help businesses save time and make money by solving invoices and collections, which, now that I say this in the show, kind of sounds like a ramp.

Yep. Um, wait, what is the what is the typical collection process? Is that is this like uh just automated emails? Is that an important part of getting paid as a business? Yeah, it's a huge part. It's a huge part.

I mean, most of it is email and and and up until now it's all been like these very boring dy emails that get sent and then get ignored. Yeah. Um and then like statistically a big piece of delays is just an error in these emails. It's like a tiny thing that we accept, but it's like a three trillion dollar problem, right?

Yep. uh uh what were the legacy solutions uh in the category? Why why start this business now? What was kind of the key unlock? I when I when I saw the launch made a lot of sense, but at the same time, you know, you look at a business like this. I think every business owner can go to monk, you know,.

com and think, okay, I'm having these problems. This feels like uh an elegant solution for it. But but why was this not a solved problem yet? Yep, it's a good question and it's it's a red ocean. Like there's a ton of players before OL and now every person with a Wi-Fi connection is going to rip a competitor.

Um it's just diving into you're a real shark. It takes a real shark to dive into I like the honesty. I appreciate this. This is much better. We're the only person that thought of this. Cap, you know, capitalism is it's inevitable. You know, a few things.

a uh the selling into the office of the CFO changed twice since the Zer. So like a there was a Zer and like it was super frothy um and then and then and so and then and then there was a lot more financial rigor and then now with post LLM there's just a lot more appetite to experiment.

So like I think the the uh GTM motion got easier and then the onus on the CFO or like the business leader even the founder the solar founder get like a lot a lot harder like they have to do a lot more with less and then B like when Sim Alman and Satia compete and they pour billions in capex and opex and R&D we at the app layer just get to rip that into advantages and so like we are applying LMS in three parts of this workflow and it just works and like every every week that they improve we improve.

proof before. Obviously, not possible. How'd you get monk. com? That's a great domain. What's the story? Uh, wanted a poker game. You wanted a poker game. You're a pro poker player, right? No, I'm kidding. I'm kidding. I bought it. I bought it. Okay. You But you made money in poker and then so you paid for it.

So, you kind of wanted a poker game. I like that. Kind of wanted a poker game. Kind of. Shield at BTV gave me some money. No, it we used to be called Atlas cuz I think Greek philosophy is cool and I thought, you know, a fiance function like holds up the the world, but then there's like 50 atlases. Oh, sure, sure.

Stripe. There's a bunch of other What makes poker players so elite at uh at the sport of business? I know a buddy of mine uh uh still plays like pro proam pro poker. Business is basically degenerate gambling professional. Just kidding.

But I mean, don't you think you can sort of like cross apply from I mean, you run a business and now you run a very popular you cross apply like a lot of the same principles govern all these domains, right? Yeah, totally. Totally. Um, is this founder bluffing or will they come on the show?

Will they come answer hard questions in the TBP Ultradome? Will they have a poker face on? Expected value thinking, you know, risk, discipline, etc. , etc. , etc. Totally. Totally awesome. Uh, take us through the round real quick. What happened? You mean like the money? Yeah. I want to ring the gong. How much from who?

Greenbacks. Uh, led by Sheila Nihar on BTV. Yes. Thank you. Thank you. Thank you. We love Shield. Is this from his new fund? He he came on the show just like a week ago. He's already deploying, ripping checks. Or maybe you were the last one in fund too. I don't know. I think I'm the last one in the fund too. Fund. Okay.

Uh GTM Fund and V Rail also helped Buil and Yehar. Very cool. Uh and tell us about the last company. Super interested. The last company one. Oh, Streamlabs. Yeah. Yeah. It's uh it's a big business. It's a creator economy business. It's like we were a big developer for Twitch and YouTube.

So like if you're a content creator and you live stream on Twitch, YouTube or like back then when Facebook was Facebook, you're using our tools. Yeah. So, live streaming, patronage, moderation, etc. , etc. , etc. Um, and we sold because we're a developer and like Twitch was just ripping our road map, which is fine.

Like, yeah. Yeah. Who'd you sell to? Logitech. Okay. Logitech. There you go. Awesome. Well, uh, yeah, congratulations on the raise. Uh, and, uh, yeah, it seems like there's quite a lot of