Rox Raises $100 Million at $1.3 Billion Valuation as Aramco's Prosperity7 Joins

General Catalyst and March Capital co-led the round, which was announced on November 11. Databricks Ventures also came in as a new investor, and Sequoia Capital returned. Accounts of the other returning investors differ: most reports name Factory, while one names GV. The company first disclosed the deal to Fortune.

The round puts a Saudi-backed fund behind one of the AI start-ups going after the market for customer relationship software, where Salesforce reported $41.5 billion in revenue for fiscal 2026. Prosperity7 has become a regular backer of US AI companies, and this is a bet that agents can take over routine sales work that has long run through human representatives and established CRM systems.

Rox's agents research customer accounts, suggest which prospects to prioritise and prepare outreach. The company says they also qualify leads, book meetings and manage deals inside a customer's existing systems. Rox describes the product as "a vertically integrated, enterprise-ready AI system built on each customer's individual data warehouse."

The company says annual recurring revenue grew more than tenfold in its first year on the market. It has not given a dollar figure. Rox also claims net revenue retention of more than 700% among enterprise customers, and says some customers get about 25 times their spending back within 90 days. None of these figures has been independently verified. Early customers named in reports include Ramp, New Relic, Trafigura, MongoDB and Groq.

Rox is run by co-founder and chief executive Ishan Mukherjee, who previously founded Pixie Labs, which New Relic bought in 2020. The other co-founders are Shriram Sridharan, Diogo Ribeiro and Christopher Ré, a professor in Stanford's AI Lab.

General Catalyst managing director Marc Bhargava has acknowledged the odds against the company, saying there is "a long graveyard of companies that said they'd take on Salesforce." He argued that boards are now "telling revenue leaders to try something new rather than renew the incumbent."

The new round brings Rox's disclosed funding to about $150 million, after a combined $50 million seed and Series A in November 2024. In March, a report citing unnamed sources said a General Catalyst-led round had valued the company at $1.2 billion. Neither Rox nor its investors confirmed that report.

Rox says it will spend the money on AI research, custom models, evaluation infrastructure and work with large enterprise customers. It also plans to expand its US sales, marketing and commercial team fivefold next year.