Stack Overflow Bags $85M in Series E Round of Financing

By StartUp City | Friday, July 31, 2020

The company plans to use the capital to accelerate its SaaS knowledge management and collaboration offering, Stack Overflow for Teams.

FREMONT, CA: Stack Overflow, an NYC-based platform for developers and technologists, closed $85M in Series E funding.

The funding round was led by GIC with participation from new investor Silver Lake Waterman and existing investors Andreessen Horowitz, Spark Capital, Index Ventures, and Union Square Ventures (USV). Stack Overflow has raised total funding of $153M to date.

The company plans to use the capital to accelerate its SaaS knowledge management and collaboration offering, Stack Overflow for Teams.

15 Most Promising Customer Services Startups - 2019Led by CEO Prashanth Chandrasekar, Stack Overflow is a collaboration platform for developers and technologists to work asynchronously to ship products faster, improve customer experience, boost onboarding, and drive innovation. The products include a SaaS knowledge management and collaboration offering, Stack Overflow for Teams, in addition to Talent solutions and Advertising.

Stack Overflow for Teams is used by many companies, including Bloomberg, Microsoft, Elastic, Expensify, Wix, and Zapier to streamline developer and technologist workflows and integrate tools for security, transparency, and communication. More than 200,000 paid users across over 5,000 teams use the platform across Engineering, Data Science, Product Management, and Customer Support.

"This $85 million in new funding, fueled by the growth of Stack Overflow for Teams, allows Stack Overflow to scale rapidly, to accelerate our transformation into a leading SaaS company, to expand into new markets, and to continue to invest in our public platform and the community that is the foundation of our company," said Stack Overflow CEO Prashanth Chandrasekar.

"Stack Overflow for Teams makes it easy for our developers to find the information they need quickly. It reduces the repetition of questions internally and eliminates cross-functional silos," said Chris Thomas, Managing Director at Moody's Analytics, a customer of Stack Overflow.

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