Software startup Allstacks secures $10M in funding to empower software engineers with data-driven insights

According to research firm Gartner, there’s been a significant rise in interest in developer productivity, with inquiries surging 178% in the last year alone. These inquiries grew by 325% in 2023 compared to the same period in 2021. This uptick signals a growing recognition among businesses of all sizes that efficient engineering teams are directly linked to positive business results.

Yet, despite pouring billions into software development, many enterprise software organizations still struggle to see meaningful returns. Recognizing these challenges, Allstacks, a North Carolina-based company, has made its mission to provide engineering and product teams with the data needed to showcase the impact of their work.

Today, Allstacks announced securing $10 million in Series A funding to enhance its product offerings, with a particular focus on enterprise scalability and strategic integrations.

This latest round, which brings Allstacks’ total funding to $25 million, was led by Quadri Ventures, a global investor in enterprise B2B software. They were joined by M12, Microsoft’s Venture Fund, First Rays Venture Partners, and existing backers such as Companyon Ventures, Clutch VC, S3 Ventures, Tweener Fund, CreativeCo, and Hyperplane.

The fresh capital infusion will also help Allstacks build on its momentum within the Microsoft, Atlassian, and ServiceNow ecosystems while rolling out AI-driven features to streamline the software development lifecycle. Additionally, Allstacks plans to strengthen its go-to-market strategy and expand its international presence, targeting markets in the UK, continental Europe, and the Middle East.

Founded in 2017 by Hersh Tapadia and Jeremy Freeman, who have extensive experience leading engineering teams in healthcare, energy, and technology, Allstacks emerged from their frustration with the lack of engineering data being considered in strategic decisions. Their goal was to create a platform that empowers engineering and product teams to drive business outcomes proactively.

“Large organizations are struggling to deploy software development tools effectively,” said Tapadia, co-founder and CEO of Allstacks. “Engineering teams need to measure and report on their efficiency and effectiveness, and our mission is to ensure they have a voice in the boardroom. We’re grateful for the support from our investors as we continue to lead in the emerging value stream intelligence market.”

Based in Raleigh, North Carolina, with operations in eight countries, Allstacks aims to provide enterprise clients, including top-tier banks, with deep insights into the efficiency and effectiveness of their software development processes.

Through a global partnership with Microsoft, Allstacks will assist enterprises in tracking the efficiency and ROI of deploying Microsoft Copilot within their engineering teams. By aggregating historical data from widely used development tools like Azure DevOps, Copilot, GitHub, GitLab, Jenkins, and Jira, Allstacks helps businesses understand how these tools can be optimally used to achieve real returns.

Quadri Ventures, known for investing in SaaS companies from Seed to Series B stages, sees Allstacks as a leader in the software engineering intelligence space. Chris James, Managing Partner at Quadri Ventures, highlighted Gartner’s prediction of a 140% compound annual growth rate in enterprise spending on software engineering intelligence over the next three years. Allstacks, leveraging cloud and AI technologies, is well-positioned to capitalize on this trend.

Todd Graham, Managing Partner at M12, Microsoft’s Venture Fund, added: “M12 invests in companies that are transforming industries, and Allstacks fits the bill. By providing a single source of truth for software engineering teams, Allstacks improves project health, aligns with business strategy, and promotes transparency and accountability. Their innovative use of advanced analytics and machine learning sets them apart, and we’re excited to support their mission to reshape software project management.”