Stackshine Joins Y Combinator and Receives $500K Investment

SAN FRANCISCO, CA / ACCESSWIRE / March 1, 2022 / San Francisco-based Stackshine has been selected for Y Combinator's Winter 2022 Class. The prestigious accelerator has also invested $500K in the startup. Stackshine makes it possible for companies to manage all their SaaS applications, enabling companies to easily understand what software they are paying for and how much their employees are actually using it. Companies that adopt Stackshine show that in just the first week of implementation, they save more than the entire annual subscription cost of Stackshine.

The explosion of SaaS has been a boon to companies, especially during the pandemic, offering cost-effective productivity at scale. With thousands of different SaaS platforms on the market, most companies are managing hundreds of apps at a time and each application requires someone to be responsible for handling employee onboarding/offboarding, license renewals, and security vulnerabilities.

Stackshine takes a two-pronged approach to this problem. Step one is usage discovery. Stackshine has developed a suite of tools that enable IT teams to discover all the software across their organization (approved or not), who is using it, how much it's being used, and what it costs. With Stackshine, companies have unparalleled visibility into their software stack, allowing them to derive valuable insights.

With this complete understanding of the stack, Stackshine then delivers the second prong: automation. Stackshine is able to automate the entire provisioning and deprovisioning process, allowing for things like 1-click onboarding for new employees as well as ensuring there are never security holes when an employee is offboarded. With Stackshine, IT teams no longer have to slog through mundane software management tasks.

"Every year, companies with over 1,000 employees use more than 600 different software applications, spending over $10 million annually on software subscriptions," explained Stackshine CEO and co-founder Tyler Diaz. "Each application requires someone to take responsibility, which quickly turns into an overwhelming task - and much of it done manually. We recognized that enterprise IT teams need a tool that provides visibility into the software stack and automates common management tasks, but is flexible enough to fit into existing processes. That's where Stackshine comes in."

Y Combinator (YC) has helped over 3,700 startups since their launch in 2005, including well-known global companies such as Reddit, DoorDash, Airbnb, Stripe, Instacart, Coinbase and Dropbox. (See Wired's recent story, "How Y Combinator Changed the World") Each season, YC runs a 3-month bootcamp for tech startups showing the most promise. The intensive 3-month bootcamp provides direct mentorship and feedback from other experienced founders as well as funding.

For more information and demos, visit https://www.stackshine.com.

Contact:

Sreesh Reddy
[email protected]
(501) 416-3094

SOURCE: Stackshine

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