Stack raised $850 000 from Peak Capital and 500Startups
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Under embargo till Friday, December 11th, 10:00 am CET.
Stack raised $850 k in Seed Round from Peak Capital and 500Startups to build the first tab-less browser or as they call it Operating System for the Internet. With this funding, apart from growing their consumer user-base, Stack also plans to expand their service to enterprise customers worldwide, and grow their team with top talent!
“Browsers are by far the most frequently used software on the planet! And yet the last major UI change dates back to 2002. Due to such scarcity of innovation in this industry, conventional browsers are slow, messy, disorganized, and miserably fail to meet the working needs of 2020’s humans”, says George Laliashvili, Founder and CEO at Stack. “With Stack, we are challenging the 20-year-old habit of working with the internet. Stack comes with a completely different design and with its unique web-app management and organization features, it allows users to consume 3x more information while still remaining focused, in control, and productive.”
Stack, which started as a side-project, in less than 18 months has turned into the first tab-less browser that is helping more than 50 000 people to increase their productivity while working with the internet. Peak Capital was already in contact with the team since the beginning of 2020, but was intrigued by the progress the team made during the last months: "As early-stage investors, we always look for teams with a true passion and enormous drive to succeed. With 5 founders, each with a different skill set, but with the same high level of dedication, we were keen to find out more after our first conversation", Stefan Bary, Managing Partner at Peak Capital, commented. "And then seeing fast growth to over 25,000 users from all over the globe in just a matter of months convinced us completely."
Stack joined 500Georgia in June 2020 and showing strong traction, in just a few months, the team was transferred from the regional 500 program to its flagship San Francisco Accelerator. "The Stack team is on its way to creating an easier way to be productive in the workday. As the pandemic drags on and more companies announce employees can work remotely permanently, it’s crucial to maintain productivity levels”, says Kate Seledets, venture associate at 500. “Stack has introduced browsing with a productivity layer by streamlining the web workflow and giving control back to users. The company describes itself as an “Internet OS,” and we believe the team has the technical knowledge, drive, and support to improve the way we work”.
“We are proud to have the number one accelerator in the world, 500 Startups, and the most reputable Dutch VC fund, Peak Capital, backing and sharing our vision”, says George Laliashvili. “The tremendous experience of Peak Capital and the vast network of mentors & startups at 500 further enhances our confidence that not only challenging the Status Quo is possible, but it is also exactly what we will be pursuing”.
About Stack
Stack launched as an internet multitasking tool for all social media applications. Through constant iteration and upgrades - based on the invaluable feedback of early users - Stack has evolved into the first tab-less internet browser for productivity, delivering three main benefits to teams and individual users: intuitive organization, faster navigation, effortless collaboration. Stack is a Delaware Corporation founded in 2019, based in Amsterdam, Netherlands, and backed by 500Startups SF and Peak Capital.
More information can be found at
https://stackbrowser.com/
About Peak Capital
Peak Capital is a European investment fund based in Amsterdam, The Netherlands. Founded and funded by experienced entrepreneurs, Peak Capital offers venture capital to European fast-growing early-stage Marketplace, Platform, and SaaS companies. Peak Capital manages EUR 84 million and has made 27 investments and realized 6 exits to date including IENS, which was sold in 2014 to TripAdvisor (NASDAQ: TRIP), CheapCargo, which was purchased in 2016 by PostNL (AMS: PNL) and United Wardrobe which was acquired by Vinted in 2020. More information can be found on
https://peak.capital/
About 500 Startups
500Startups is one of the most active global early-stage venture capital firms. Since our inception in 2010, we have invested in over 2,400 companies across 77 countries. Our 140-plus team members are located in more than 17 countries to support 500 Startups' global portfolio. Notable investments include Credit Karma, Canva, Talkdesk, Intercom, GitLab, Grab, and Bukalapak. We also help develop innovation ecosystems by supporting startups and investors through the accelerator and educational programs, and through partnerships with corporations and governments around the world. More information can be found on
https://500.co/
End of Press Release
Under embargo till Friday, December 11th, 10:00 am CET.
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Contact details
George Laliashvili - Founder & CEO at Stack
+31 (0)6 4301 5796 / [email protected]
Stefan Bary - Managing Partner at Peak Capital
+31 (0)6 4301 5796 / [email protected]
