Newish title, new funding: Stack Moxie, formerly known as Automaton, this spring raised $875,000 in pre-seed funding. The Seattle-based startup is a monitoring and testing automation platform for tech stacks.
Leveraging help: Stack Moxie has benefited from tapping into many sides of the startup help community. It was most lately within the inaugural cohort for final yr’s SaaS Launch Lab, a joint mission of Microsoft’s enterprise fund, M12, and Project W, a Davis Wright Tremaine initiative to help feminine founders.
“Launch Lab was extremely helpful. It was a bunch of absolutely the superstars of early-stage enterprise female-led startups,” mentioned Stack Moxie founder and Chief Government M.H. Lines. “The universe of ladies who’ve the audacity to construct software program for enterprises is small, however the relative high quality and accomplishment of the ladies and their corporations is rattling spectacular.”
Launch Labs is accepting applications for this yr’s cohort till July 23.
Development regardless of challenges: Eric Peterson, the startup’s preliminary head of engineering and product, was with the corporate for a bit of greater than a yr. Then final summer season he moved to Europe for private causes. Whereas serving as an “unimaginable chief,” Traces mentioned, it was powerful to see him go.
“Our product was six months previous, we had our first enterprise clients on-boarding, COVID-19 [was underway], and I thought of giving up,” Traces mentioned by way of electronic mail.
However just a few issues saved her going. “Our staff was so enthusiastic about our early buyer wins and had been simply jazzed,” she mentioned. Plus there have been options she nonetheless wished to construct and he or she was invited to affix the Product Administration Middle advisory board for the College of Washington’s Foster Faculty of Enterprise, which helped reignite her ardour.
Stack Moxie has seen vital income development and doubled the variety of clients within the first half of 2021, whereas current corporations have expanded their use of the startup’s companies.
The staff: Traces is CEO and head of product, and has labored in advertising roles at corporations together with Microsoft. Stack Moxie management consists of Neil Harrington, vp of gross sales and partnerships; Ranjeet Minampally, director of product engineering; Ariel Sasso, head of buyer success; and part-time Chief Marketer Adam New-Waterson. The corporate has 13 staff.
Funders: The spherical included new traders Ascend (Kirby Winfield), Alexander Daniels, Mukund Ghangurde, Vinay Gupta, Ellen Levy, Madrona Venture Group’s Pioneer Fund, Francisco Sapori, SIAM Ventures (Sarah Imbach), Swan Venture Fund, Right Side Capital, 9Mile Labs, Michael Moyer and Richard Spencer. The spherical additionally included earlier traders Techstars and angel investor Invoice Hanley.