How a tiny 4-person startup, Supaglue, caught Stripe’s eye

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In Stripe’s yearly letter, nan institution discussed respective fast-growing areas, 1 of them being nan “Revenue and Finance Automation” unit. Those are devices that thief businesses negociate billing, taxation and gross recognition. Stripe’s RFA portion will scope a $500 cardinal yearly tally complaint this year, nan institution said.

As portion of its finance successful RFA, nan payments elephantine completed an “acquihire” of nan four-person squad from Supaglue, for an undisclosed sum. Supaglue raised a $6.8 cardinal seed information successful November 2021, led by Benchmark wide partner Chetan Puttagunta. (Puttagunta did not respond to TechCrunch’s petition for comment.)

Supaglue, formerly known arsenic Supergrain, is an open-source developer level for user-facing integrations. At nan aforesaid time, Stripe’s been moving connected real-time analytics and reporting crossed its level and third-party apps for nan Revenue and Finance Automation suite. This squad is going to thief accelerate that, a Stripe spokesperson told TechCrunch.

George Xing and Thomas Chen started Supaglue successful 2021 aft moving connected nan information teams astatine Lyft and Uber. While there, they realized that managing information and business metrics crossed teams was inconsistent and fragmented which could lead to bad decisions and moreover worse business outcomes, Xing told TechCrunch.

So they built a merchandise that helps companies import and centralize customer information from third-party information sources for illustration Salesforce aliases different customer narration guidance systems into their ain applications.

How did a mini four-person startup drawback nan attention, and an acquisition offer, from mighty Stripe? Mutual activity acquaintances introduced them, though Xing and Chen picture gathering Stripe arsenic “pretty serendipitous.” After folks successful their extended web made nan introduction, and because Supaglue was besides doing a adjacent magnitude of integration work, nan 2 companies began having conversations and erstwhile Stripe offered to bargain them, they accepted.

“A large portion of nan RFA suite is besides a unified information level that reconciles information from each of those products and surfaces applicable insights to nan extremity users of Stripe via dashboards, alerts, customer reporting and real-time analytics. It’s very akin to nan original problem we were solving,” Xing said.

The Supaglue acquihire is 1 of galore things going connected astatine Stripe truthful acold this year. Between nan employee banal waste deal and securing partnerships pinch companies for illustration authentication startup Clerk and a nosy 1 pinch electrical vessel startup Navier, nan institution has been beautiful busy. Considering nan maturation Stripe alluded to successful its yearly letter, Supaglue will apt quickly find accelerated friends wrong Stripe’s ecosystem.