It’s all As for Allstacks this week.
The North Carolina-based SaaS startup just closed its $12.3 million Series A, a funding round backed by big names like enterprise software giant Atlassian. The Series A was led by Boston-based Companyon Ventures, with additional participation from Atlassian Ventures, CreativeCo, Hyperplane Venture Capital, S3, and ClutchVC.
That “good grade” comes as the startup has been showing strong growth over the last few years.
The startup works to be a one-stop shop to aggregate data and provide blended metrics on what is going on across all product development platforms a company is using. It is all about giving companies clear visibility into project status, team performance, and company-wide trends.
Hypepotamus last caught up with the Allstacks team in 2019 when the startup first secured its seed round.
Since then, CEO and co-founder Hersh Tapadia said the platform has introduced machine learning-based predictive analytics to “forecast software delivery outcomes, identify, and proactively alert on risks that can be delivered externally to tools like Slack,” alongside new persona-based reports to help every level of a tech-focused organization.
Tapadia told Hypepotamus that the team has tripled in size since its seed funding.
Growth To Come Out Of The Series A
Atlassian is a well-known name across tech-focused organizations. Tapadia said bringing on the venture wing of Atlassian is all about continuing integration opportunities.
“We’re thrilled to partner with them and we have been deeply integrated since day one with Atlassian and our other data partners. Their investment and belief in this space is an amazing opportunity to provide mission-critical capabilities to their 200,000+ organization customer base,” he told Hypepotamus.
Matt Sonefeldt, Head of Atlassian Ventures, added that the team is investing in Allstacks because “it enables engineering teams to leverage data across workflows and systems to efficiently build products” and is a startup at the “forefront of the emerging value stream intelligence market.”
Tapadia said the platform has grown its capabilities to better serve enterprise as well as mid-market customers recently as well.
“Every company is transforming into a software company and this is even more true in the enterprise so we are excited to continue to partner with these companies to bring about meaningful improvements in their technology organizations,” he added.