In a world the place third-party instruments, providers, and contractors kind the operational spine of recent firms, Stackpack has raised $6.3 million to convey order to the rising complexity.
Led by Freestyle Capital, the funding spherical contains help from Elefund, Upside Partnership, Nomad Ventures, Format 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 important activity as organizations now juggle tons of 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 unravel an issue she knew too nicely: fashionable firms are powered by distributors, but most nonetheless monitor them with outdated strategies—spreadsheets, scattered paperwork, and guesswork. With SaaS stacks ballooning and AI instruments proliferating, unmanaged distributors turn into silent liabilities.
“Firms name themselves ‘people-first,’ however in actuality, they’re changing into ‘vendor-first,’” stated Wyman. “There are sometimes 6x extra distributors than workers. But there’s no system of document to handle that shift—till now.”
Stackpack provides finance and IT groups a unified, AI-powered dashboard that gives real-time visibility into vendor contracts, spend, renewals, and compliance dangers. The platform routinely 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 significant dates. It not solely identifies inefficiencies—it takes motion, issuing alerts, initiating workflows, and offering suggestions throughout the seller lifecycle.
As an illustration:
- Renewal alerts stop shock fees.
- 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 associated fee.
A Well timed Resolution for a Rising Drawback
Vendor administration has turn into a boardroom problem. As extra firms shift budgets from headcount to outsourced providers, compliance and monetary oversight have turn into tougher to take care of. 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 incorrect,” stated Brandon Lee, Accounting Supervisor at BizzyCar. “Stackpack means we don’t should cross our fingers each quarter.”
Past Visibility: Enabling Smarter Vendor Choices
Alongside its core platform, Stackpack is launching Requests & Approvals, a light-weight software 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 choice carries authorized, monetary, and safety penalties,” stated Dave Samuel, Basic Accomplice 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 dimension and complexity, Stackpack goals to rework vendor operations from a legal responsibility right into a aggressive benefit. Its AI-powered method provides 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 working a better firm,” stated Wyman. “Managing your distributors must be as strategic as managing your expertise. We’re giving firms the instruments to make that doable.”
With recent funding and a quickly increasing buyer base, Stackpack is poised to turn into the brand new customary for the way fashionable companies handle the companions powering their progress.
