In a world the place third-party instruments, providers, and contractors type the operational spine of recent 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 process as organizations now juggle a whole bunch 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issue she knew too effectively: fashionable firms are powered by distributors, but most nonetheless monitor them with outdated strategies—spreadsheets, scattered paperwork, and guesswork.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 out to be silent liabilities.
“Firms name themselves ‘people-first,’ however in actuality, they’re changing into ‘vendor-first,’” mentioned Wyman. “There are sometimes 6x extra distributors than workers. But there’s no system of report 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 robotically 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 important dates. It not solely identifies inefficiencies—it takes motion, issuing alerts, initiating workflows, and offering suggestions throughout the seller lifecycle.
For example:
- Renewal alerts forestall shock costs.
- 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 fee.
A Well timed Answer for a Rising Drawback
Vendor administration has turn out to be a boardroom subject. As extra firms shift budgets from headcount to outsourced providers, compliance and monetary oversight have turn out to be more durable 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 unsuitable,” mentioned Brandon Lee, Accounting Supervisor at BizzyCar. “Stackpack means we don’t must cross our fingers each quarter.”
Past Visibility: Enabling Smarter Vendor Choices
Alongside its core platform, Stackpack is launching Requests & Approvals, a light-weight instrument to simplify vendor onboarding and buying selections—at the moment in beta. The function is already attracting clients searching for sooner, 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 wiser, interconnected vendor ecosystem.
“Each vendor resolution carries authorized, monetary, and safety penalties,” mentioned Dave Samuel, Common 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 measurement and complexity, Stackpack goals to remodel 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 value management—it’s about working a wiser firm,” mentioned Wyman. “Managing your distributors must be as strategic as managing your expertise. We’re giving firms the instruments to make that doable.”
With contemporary 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.