What does Stackpack do?
Stackpack is a San Francisco-based company that offers an intelligent platform designed to manage third-party vendors, AI tools, and contractors. Their solution helps finance and IT teams control spend, manage vendor renewals, and reduce compliance risks by providing a single source of truth for vendor lifecycle management.
How much did they raise?
The company raised $6.3M in a funding round led by Freestyle Capital, with participation from investors including Elefund, Upside Partnership, Nomad Ventures, Layout Ventures, and MSIV Fund, as well as contributions from angel investors from notable companies such as Intuit, Workday, and Affirm.
What are their plans for the money?
With the new investment, Stackpack plans to expand its operations and development efforts, enhancing its platform's capabilities to meet the growing complexity and costs associated with managing a large network of third-party vendors.
What have they achieved so far?
Just months after its launch in 2023, Stackpack has already demonstrated strong early success by managing over 10,500 vendors and handling $510M in spend across more than 50 customers.
