- London-founded Stackfix, the AI-powered software comparison platform, has raised $3M to speed-up software buying for businesses globally. The round has been led by Chalfen Ventures, with participation from Seedcamp and helloworld.
- The company is co-founded by Paddy Stobbs (previously Co-Founder of Jukedeck, acquired by TikTok) and Camin McCluskey (ex-Skyscanner).
- Stackfix has also unveiled its platform for the first time. It leverages AI to continuously test and compare software, and help businesses navigate the recent explosion of products.
London, Tuesday 3rd December 2024: Stackfix, the AI-powered software comparison platform, has raised $3M (£2.4M) in Seed funding to speed-up software buying for small businesses globally. Chalfen Ventures led the round, with participation from Seedcamp and helloworld, alongside prominent angel investors such as Paul Forster (Founder of Indeed.com), Mehdi Ghissassi (Head of Product at DeepMind), Matt Clifford (Chair of Entrepreneur First and ARIA), Alice Bentinck (Co-Founder of Entrepreneur First), and Charlie Delingpole (Founder of ComplyAdvantage).
$1 trillion is spent annually on business software, yet most companies struggle to make the right purchasing decision efficiently amid an overwhelming number of choices, high complexity, and opaque pricing. Existing solutions such as G2.com and Capterra rely on user-generated reviews, which are often out-of-date, incomplete or biased, with many reviews sponsored by vendors. The result? Businesses buy the wrong products, and haemorrhage productivity and cash.
This problem is getting much worse. Advances in AI have dramatically lowered the barriers to building and updating software, leading to an explosion in the number of available tools – and their complexity. Traditional review-based approaches cannot keep up.
Stackfix, founded in 2023 by Paddy Stobbs and Camin McCluskey, is tackling this problem head-on. Having experienced the problem first-hand building his previous AI company (Jukedeck, which was acquired by TikTok), Stobbs knew that the existing platforms were broken. Teaming up with McCluskey, they recognized that AI could revolutionise this space by automatically testing software products.
Unlike traditional review-based platforms, Stackfix collects real-time data on pricing, features and performance, allowing business buyers to compare products accurately and get personalised advice. Businesses across North America and Europe – such as ElevenLabs and Synthesia – have already used Stackfix in private beta, spending over $500,000 via the platform and adopting it as a core part of their purchasing processes.
With this funding, Stackfix plans to further advance its AI capabilities, and expand its comparison platform globally.
“The software market is at a tipping point. AI has enabled an explosion of new products, but the tools to help businesses choose the right software haven’t kept up. Stackfix is changing that with an AI-powered, real-time solution that makes software buying faster, simpler, and more accurate. We’re thrilled to have the backing of such incredible investors as we work to build the ultimate software comparison platform.”
Paddy Stobbs, Co-Founder and CEO of Stackfix
“The Stackfix team is addressing a huge opportunity. Software is exploding. Every business wants to buy more tools, but does not have the time or information to choose the best products for them. Stackfix solves this—using AI to guide teams to the best options with speed and precision. The Stackfix team is addressing a massive opportunity, and Paddy and Camin are incredibly hard-working, principled and ambitious. I am proud to support them in building the go-to marketplace for B2B software.”
Mike Chalfen, General Partner at Chalfen Ventures
“Choosing the right software is a universal pain point for businesses, yet today’s solutions fall woefully short – lacking transparency, efficiency and trust. Stackfix is changing the game with its AI-driven approach, empowering businesses to make smarter decisions, save time and maximise value. We are delighted to back Paddy and Camin as they build the state of the art software comparison platform and redefine how companies find and buy the tools they need to succeed.”
Reshma Sohoni, Co-Founder and Managing Partner at Seedcamp
About Stackfix
Stackfix is building the ultimate software comparison platform. By using AI to test software products, Stackfix collects real-time data on pricing, features and performance, enabling buyers to compare tools accurately and get personalised advice. Founded in 2023, Stackfix is backed by top investors including Chalfen Ventures, Seedcamp, and helloworld.
About Chalfen Ventures
Chalfen Ventures is Mike Chalfen’s VC firm. It invests in one-of-a-kind, software-driven businesses that can grow and dominate new and sometimes unusual markets. His solo practice frees Mike to collaborate closely with the entrepreneurs who choose to work with him.
As well as his early investments in many unicorns such as Illumio, King.com, Snyk and Tipalti, in the last few years Mike has backed emerging winners like Bridebook, Crossbeam, General Index, Lokalise, and Tray.ai, amongst many other incredibly ambitious startups.
About Seedcamp
Seedcamp partners with Europe’s most exceptional tech founders from Day One. Across their company-building journeys, founders and their teams get access to an unparalleled network, unfiltered advice, and unwavering support.
With almost two decades at the heart of Europe’s tech ecosystem, Seedcamp has earned a reputation for identifying and nurturing the continent’s most promising entrepreneurs with the grit and vision to reshape the future. The Seedcamp Nation now stands at 500+ companies strong and includes publicly listed UiPath and Wise, unicorns Revolut, Synthesia, Sorare, Pleo, wefox, and viz.ai, and a stable of fast-growing businesses across various sectors, such as Sylvera, Lindus Health, Yonder, 9fin and Maze.
