In a world the place third-party instruments, companies, and contractors type the operational spine of contemporary firms, Stackpack has raised $6.3 million to carry order to the rising complexity.
Led by Freestyle Capital, the funding spherical consists of assist from Elefund, Upside Partnership, Nomad Ventures, Structure Ventures, MSIV Fund, and strategic angels from Intuit, Workday, Affirm, Snapdocs, and xAI.
The funding helps Stackpack’s mission to redefine how companies handle their increasing vendor networks—an more and more very important job as organizations now juggle a whole lot and even 1000’s of exterior companions and platforms.
Turning Chaos into Management
Based in 2023 by Sara Wyman, previously of Etsy and Affirm, Stackpack was constructed to resolve an issue she knew too effectively: fashionable firms are powered by distributors, but most nonetheless observe them with outdated strategies—spreadsheets, scattered paperwork, and guesswork. With SaaS stacks ballooning and AI instruments proliferating, unmanaged distributors turn out to be silent liabilities.
“Firms name themselves ‘people-first,’ however in actuality, they’re turning into ‘vendor-first,’” stated Wyman. “There are sometimes 6x extra distributors than staff. But there’s no system of document to handle that shift—till now.”
Stackpack offers finance and IT groups a unified, AI-powered dashboard that gives real-time visibility into vendor contracts, spend, renewals, and compliance dangers. The platform mechanically extracts key contract phrases like auto-renewal clauses, flags overlapping subscriptions, and even predicts upcoming renewals buried deep in PDFs.
AI That Works Like a Digital Vendor Supervisor
Stackpack’s Behavioral AI Engine acts as an clever assistant, surfacing hidden cost-saving alternatives, compliance dangers, and demanding dates. It not solely identifies inefficiencies—it takes motion, issuing alerts, initiating workflows, and offering suggestions throughout the seller lifecycle.
As an example:
- Renewal alerts forestall shock prices.
- Spend monitoring identifies underused or duplicate instruments.
- Contract intelligence extracts authorized and pricing phrases from uploads or integrations with instruments like Google Drive.
- Approval workflows streamline onboarding and procurement.
This brings the sort of automation as soon as reserved for enterprise procurement platforms like Coupa or SAP to startups and mid-sized companies—at a fraction of the price.
A Well timed Answer for a Rising Drawback
Vendor administration has turn out to be a boardroom difficulty. As extra firms shift budgets from headcount to outsourced companies, compliance and monetary oversight have turn out to be tougher to keep up. Stackpack’s early traction is proof of demand: simply months after launch, it’s managing over 10,500 distributors and $510 million in spend throughout greater than 50 clients, together with Each Man Jack, Rho, Density, HouseRx, Fexa, and ZeroEyes.
“The CFO is the one left holding the bag when issues go fallacious,” stated Brandon Lee, Accounting Supervisor at BizzyCar. “Stackpack means we don’t must cross our fingers each quarter.”
Past Visibility: Enabling Smarter Vendor Selections
Alongside its core platform, Stackpack is launching Requests & Approvals, a light-weight instrument to simplify vendor onboarding and buying selections—at present in beta. The characteristic is already attracting clients in search of quicker, extra agile alternate options to conventional procurement programs.
With a long-term imaginative and prescient to assist firms not solely handle however uncover and consider distributors extra strategically, Stackpack is laying the groundwork for a better, interconnected vendor ecosystem.
“Each vendor determination carries authorized, monetary, and safety penalties,” stated Dave Samuel, Basic Companion at Freestyle Capital. “Stackpack is constructing the clever infrastructure to handle these relationships proactively.”
The Way forward for Vendor Operations
As third-party ecosystems develop in measurement and complexity, Stackpack goals to rework vendor operations from a legal responsibility right into a aggressive benefit. Its AI-powered method offers firms a contemporary working system for vendor administration—one which’s scalable, proactive, and deeply built-in into finance and operations.
“This isn’t nearly price management—it’s about operating a better firm,” stated Wyman. “Managing your distributors ought to be as strategic as managing your expertise. We’re giving firms the instruments to make that attainable.”
With recent funding and a quickly increasing buyer base, Stackpack is poised to turn out to be the brand new normal for a way fashionable companies handle the companions powering their progress.
