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InStripe ’s one-year letter , the ship’s company discussed several fast - growing areas , one of them being the “ Revenue and Finance Automation ” whole . Those are tools that help businesses cope charge , tax and revenue realisation . Stripe ’s RFA unit will make a $ 500 million annual foot race rate this year , the company said .
As part of its investment in RFA , the requital giant completed an “ acqui - hire ” of the four - person squad fromSupaglue , for an unrevealed total . Supaglue elevate a $ 6.8 million cum circle in November 2021 , lead by Benchmark general spouse Chetan Puttagunta . ( Puttagunta did not respond to TechCrunch ’s request for scuttlebutt . )
Supaglue , formerly known as Supergrain , is an open source developer political platform for drug user - face integrations . At the same time , Stripe ’s been work on real - prison term analytics and reporting across its chopine and third - company apps for the Revenue and Finance Automation entourage . This team is lead to avail accelerate that , a Stripe voice say TechCrunch .
George Xing and Thomas Chen started Supaglue in 2021 after working on the data teams at Lyft and Uber . While there , they realized that managing information and business metrics across teams was inconsistent and fragmented , which could leave to bad decisions and even big business issue , Xing told TechCrunch .
Stripe ’s growth continues to impress as entire payment mass tops $ 1 trillion
So they built a product that avail companies import and centralize client data from third - political party data source like Salesforce or other customer relationship management systems into their own applications .
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How did a petite four - person startup catch the attending , and an acquihire pass , from mighty Stripe ? Mutual piece of work acquaintances introduced them , though Xing and Chen draw meeting Stripe as “ pretty serendipitous . ” After kinsfolk in their extended meshwork made the introduction , and because Supaglue was also doing a honest amount of desegregation oeuvre , the two companies set out having conversations , and when Stripe provide to buy them , they accept .
“ A big part of the RFA rooms is also a unified data point platform that reconciles data point from each of those products and surfaces relevant insights to the closing users of Stripe via dashboards , alerts , client reporting and literal - fourth dimension analytics . It ’s very similar to the original trouble we were solving , ” Xing said .
The Supaglue acqui - hire is one of many things kick the bucket on at Stripe so far this year . Between theemployee stock sale dealand insure partnerships with companies like authentication startupClerkand a play one with electrical boat startupNavier , the party has been pretty meddling . consider the growth Stripe alluded to in its annual letter of the alphabet , Supaglue will likely rapidly find immobile friends within Stripe ’s ecosystem .
Deal Dive : A Stripe secondary deal worth pay attention to
