Allstacks, a software engineering intelligence platform improving software development outcomes, has raised $10 million in Series A funding. The round was led by London-based Quadri Ventures (which backed SwiftConnect and Fyma) alongside M12, Microsoft’s Venture Capital Fund, Companyon Ventures, Clutch VC, S3 Ventures, Tweener Fund, CreativeCo, and Hyperplane.
Funds utilisation
The funding will help the company expand its product capabilities around enterprise scalability, expanding strategic integrations building on its success in the Microsoft, Atlassian, and ServiceNow ecosystems, and deploying AI-based capabilities to reduce time to action in the software development lifecycle. Allstacks will also be building out its go-to-market function and expanding its international footprint with a focus on the UK, Europe, and the Middle East.
Chris James, Managing Partner at Quadri Ventures, said: “Allstacks is pioneering a new level of innovation in the value stream intelligence market, and we are incredibly proud to support a business that is setting a new standard for the industry. Gartner predicts that enterprise spending on software engineering intelligence will experience a CAGR increase of 140% over the next three years as businesses realise the importance of understanding how they expense their resources, demonstrating the true growth potential of this market. Sitting at the forefront of this exciting growth trend, Allstacks are the ideal company for us to partner with and support in the next phase of their rapid growth journey.”
What challenge does it tackle?
As per Gartner, inquiries into developer productivity increased 178% in the 12 months between 2022-2023, and a huge 325% in 2023 from the same period in 2021, as businesses of all sizes link positive business outcomes and productive, efficient engineering teams. However, enterprise software development organisations spend billions annually on software development that fails to deliver business value. Enterprises are searching for ways to ensure successful software delivery that is also critically focused on the primary value drivers of the business.
Headquartered in Raleigh, North Carolina, Allstacks provides enterprise customers, including tier-one banks with a comprehensive understanding and insights related to the efficiency and effectiveness of their software development.
How was the idea born?
Allstacks was founded in 2017 by Hersh Tapadia and Jeremy Freeman, with decades of experience leading engineering teams across healthcare, energy, and technology. It was born out of the founders’ frustration with the lack of a way for them to bring data into strategic conversations at the boardroom level.
Determined to overcome this barrier, they created Allstacks to harness data and empower engineering and product teams to proactively shape business outcomes, instead of reacting to them.
What does the company do?
Allstacks provides a predictive forecasting and risk management platform that improves software development outcomes. By leveraging machine learning and AI models across the software development lifecycle, it identifies at-risk initiatives and offers solutions to get them back on track.
The company will partner with Microsoft globally to help enterprises track the efficiency, and ultimately the ROI, of implementing Microsoft Copilot in their engineering teams, which is the problem most commonly flagged by customers. By aggregating historical data gathered from different delivery tools like Copilot, GitHub, and Jira, Allstacks informs engineers and cross-functional leaders of the business’ changing software development timelines and dependencies, ultimately helping them understand how these tools can be effectively deployed to drive genuine ROI.
“Large organisations have hit a wall when it comes to efficiently and successfully deploying software development tools across their business,” commented Hersh Tapadia, co-founder and CEO of Allstacks. “It’s never been more important for engineering teams to be able to effectively measure and report on engineering efficiency and effectiveness, and it’s our mission to make engineers successful by giving them a strategic voice in the boardroom. We would like to thank all our investors for their incredible backing in this round as we continue to solidify our position at the forefront of the emerging value stream intelligence market.”
