Sam Blond, a former venture capitalist at Founders Fund, has officially launched his new startup, Monaco, which aims to revolutionize the sales technology sector. The company emerged from stealth mode on Wednesday, marking a significant step for Blond, who left his VC role after just 18 months to return to operational leadership.
Co-founded with his brother, Brian Blond, who is also an ex-sales professional and now a partner at Human Capital, Monaco is joined by two other notable co-founders: Abishek Viswanathan, previously Chief Product Officer at Apollo and Qualtrics, and Malay Desai, former Senior Vice President of Engineering at Clari. The startup has successfully raised a total of $35 million, consisting of a $10 million seed round and a subsequent $25 million Series A round, with both led by Founders Fund and additional participation from Human Capital.
Monaco has been testing its AI-driven sales platform through a private beta, and on Wednesday, it opened access to a public beta. The company has attracted a strong lineup of angel investors, including Patrick and John Collison, co-founders of Stripe, Garry Tan, CEO of Y Combinator, and Neil Mehta, founder of Greenoaks Capital. This impressive roster of backers raises questions about what makes Monaco’s approach appealing in a competitive market.
Innovative Approach to AI Sales
Monaco enters the crowded field of AI sales technology with a unique strategy. Unlike many competitors, the company pairs its AI-native customer relationship management (CRM) system with experienced human sales professionals who monitor and guide the AI’s actions. This combination aims to enhance the sales process rather than replace human roles.
Targeting early-stage startups, particularly those in seed and Series A stages, Monaco provides a comprehensive suite of tools that includes an AI-generated database for identifying potential clients. The AI agents are designed to automate outreach campaigns, draft follow-up emails, and even take meeting notes. As Sam Blond explains, “We can replace full workflows with agents,” allowing sales teams to focus on higher-level strategies.
The startup’s human-in-the-loop model ensures that experienced sales professionals oversee the AI’s operations, reducing the risk of errors while facilitating effective customer engagement. “Monaco does not have an agent pretending to be a sales rep trying to sell to the customer,” Blond emphasizes.
Facing Competitive Challenges
As Monaco prepares to launch its services, it faces significant competition from established players like Salesforce and Hubspot, both of which offer their own AI-enhanced sales tools. Blond acknowledges the crowded landscape, noting that Y Combinator alone has introduced numerous sales startups in recent years. He points out that while the market lacks a clear leader akin to popular tools in other sectors, Monaco aims to become a frontrunner in sales technology.
Blond’s vision for Monaco is ambitious. He states, “We are in the early innings of the next platform shift that will lead to a new market leader.” This perspective reflects his confidence in Monaco’s potential to disrupt the traditional sales technology model.
Currently, specific pricing details remain undisclosed as the platform remains in beta, but Blond assures that it will offer a flat fee structure aimed at being accessible for young companies. The office culture at Monaco is vibrant, characterized by a team of approximately 40 employees and motivational slogans that echo the company’s mission.
As the startup ecosystem continues to evolve, Monaco stands out for its innovative approach to integrating human expertise with cutting-edge technology. Sam Blond’s return to the operational side of business not only reflects his passion for sales but also his commitment to shaping the future of the industry.
