How a small 4-person startup, Supaglue, caught Geeta's attention | Tech Crunch

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In Geetha's annual letter, the company discussed several fast-growing areas, one of which was the “Revenue and Finance Automation” unit. They are tools that help businesses manage billing, tax and revenue recognition. Stripe's RFA unit will reach an annual run rate of $500 million this year, the company said.

As part of its investment in RFA, the payments giant completed the “acquire-hire” of a four-person team from Supaglu for an undisclosed sum. Supaglu raised a $6.8 million seed round in November 2021 led by Benchmark General Partner Chetan Puttagunta. (Puttagunta did not respond to TechCrunch's request for comment.)

SupaGlu, formerly known as SuperGrain, is an open source developer platform for user-facing integrations. At the same time, Stripe is working on real-time analytics and reporting in third-party apps for its platform and revenue and finance automation suite. A Geeta spokesperson told TechCrunch that the team will help speed it up.

George Jing and Thomas Chen founded Supaglu in 2021 after working in the data teams at Lyft and Uber. While there, they realized that managing data and business metrics across teams was inconsistent and fragmented, leading to bad decisions and even worse business results, Xing told TechCrunch.

So they built a product that helps companies import and centralize customer data from third-party data sources like Salesforce or other customer relationship management systems into their own applications.

How did a small four-person startup get attention and a buyout offer from the mighty Stripe? Mutual work acquaintances introduced them, but Jing and Chen describe meeting Geeta as “pretty serendipitous”. After being introduced by people in their extended network, and with Supaglu doing a fair amount of integration work, the two companies began conversations, and when Stripe offered to buy them, they agreed.

“The bulk of the RFA suite is a unified data platform that reconciles data from each of the products to deliver relevant insights to Stripe's end users through dashboards, alerts, customer reporting and real-time analytics. It's very similar to the original problem we're solving,” Jing said.

Supaglu Acqui-Hire is one of many things happening at Stripe so far this year. Between an employee stock sale deal and securing partnerships with companies that have fun with startup Clerk and electric boat startup Navier, the company has been busy. Considering the growth Supaglue indicated in its annual letter, Supaglue could quickly find fast friends in Stripe's ecosystem.

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