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Updated Apr 27, 2026

SOLD

Avoca Raises Series B Funding At $1 Billion Valuation Led By Meritech And General Catalyst

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Building Size

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Asset Type

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Closing

Apr 27, 2026

About this deal

AI

Avoca, a New York-based AI platform for the services economy, raised an undisclosed Series B round at a $1 billion valuation. This round brought total funding to over $125 million and was led by Meritech and General Catalyst, following a prior Series A led by Kleiner Perkins.

Summary of transaction details:

  • Deal Type: Series B
  • Transaction Amount: Undisclosed
  • Company Valuation: $1,000,000,000
  • Founders: Apurva Shrivastava & Tyson Chen
  • Headquarters: New York
  • Notable Investors: Meritech, General Catalyst, Kleiner Perkins

Avoca provides AI-powered voice and workflow automation, enabling rapid responses to inbound leads, direct job bookings into CRMs, follow-ups on estimates, and optimization of technician capacity. The company aims to expand operations and product development by broadening into other schedule-dependent industries such as moving, junk removal, automotive services, and property management.

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Market CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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