No-Code AI Startup StackAI Secures $16 Million Series A Funding Led by Lobby Capital

StackAI, a no-code platform for developing AI agents to automate business functions, has raised a significant $16 million Series A funding round. The investment was led by Lobby Capital and joined by notable investors including LifeX Ventures, Vercel CEO Guillermo Rauch, Weaviate CEO Bob Van, Gradient, Y Combinator, and Epakon Capital. Founded in 2022, StackAI is based in San Francisco and allows companies to create AI agents that can interact with various software tools like Snowflake and Salesforce to handle tasks such as data entry, content aggregation, and information categorization. Background and Growth Bernard Aceituno and Antoni Rosino, the co-founders of StackAI, met while pursuing their PhDs in computer science and artificial intelligence at MIT, graduating in 2022. Their academic expertise informed the development of their platform, which they designed to make AI accessible even to those with little technical knowledge. Despite focusing on no- and low-code solutions, the founders emphasize the sophisticated backend processes driven by AI to maintain competitiveness and adapt to technological advancements. Aceituno noted that they extensively use AI tools, such as Cursor and their own StackAI Agents, to build over 100 integrations and rapidly incorporate new AI models. Customer Base and Impact One of the most surprising discoveries for StackAI has been the wide range of customers benefiting from their technology. Contrary to expectations, the least technologically advanced companies, such as construction firms, local governments, and insurance agencies, have seen the greatest value from AI agents. These businesses often struggle with outdated systems and repetitive tasks, making the automation capabilities of StackAI particularly impactful. This broad appeal has helped the startup attract a diverse customer base and validate its approach to democratizing AI. Funding History StackAI's journey to this Series A round included participation in Y Combinator’s Winter 2023 batch, where they first gained traction. In April 2023, the company secured a $3 million seed funding round from a mix of venture capital firms and angel investors, including Gradient, YC, Epakon Capital, Soma Capital, and True Capital Ventures. This initial funding provided the necessary resources to refine their platform and scale operations. Current Competitors The surge of interest in AI agents is evident in the broader tech ecosystem. In the last month, several startups in this space have received substantial investment. Reco, which focuses on deploying AI cybersecurity agents, raised $25 million from Insight Partners. Artisan, another company automating repetitive tasks with AI, secured $25 million from Glade Brook Capital. Spur, which uses AI agents to debug websites, received a $4.5 million seed round from First Round and Pear. These investments highlight the growing trend and market potential for AI-driven automation solutions. Vision and Future Plans With the new funding, StackAI aims to expand its capabilities and broaden its reach across industries. The company plans to invest in research and development to enhance its AI agents' performance and to explore new applications. Additionally, they will focus on scaling their sales and marketing efforts to attract more businesses, particularly those that stand to benefit the most from automation due to their existing inefficiencies. Industry Insights and Company Profile Industry experts view the funding of StackAI as a strong signal of the ongoing revolution in workplace automation. The ability to create custom AI agents without extensive coding knowledge aligns with a broader trend towards making advanced technologies accessible to non-tech-savvy users. The company's unique position at the intersection of high-tech AI and user-friendly no-code platforms makes it a standout in the market. StackAI's success also underscores the potential for innovative solutions to transform traditional industries that may not have previously embraced cutting-edge technology. The company’s academic roots and rapid growth suggest a promising future as they continue to refine and expand their offerings.