Stack Overflow‘s $85 million Series E funding was led by GIC with participation from new investor Silver Lake Waterman and existing investors Andreessen Horowitz, Index Ventures, Spark Capital, and Union Square Ventures (USV). With the Series E funding round, the company’s total funding is now $153 million. The company also stated that the financing will be used to accelerate the company’s SaaS knowledge management and collaboration offering, Stack Overflow for Teams.
$153M total funding
The company also stated that the funding comes on the heels of the product’s significant momentum, with Stack Overflow for Teams’ revenue doubling every year since launching in 2017. As a result of the round, Prashanth Chandrasekar will join the board of Stack Overflow who is a senior leader and cloud veteran from Rackspace, he was appointed CEO of the company in October 2019. Stack Overflow CEO Prashanth Chandrasekar said,
“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.”
See more Development News