Remote work is here to stay and will continue to increase through 2023. According to the career site Ladders, around 25 percent of all professional jobs in North America will be remote by end of next year. Ladders, the number one career site for professionals seeking six-figure jobs, has been tracking remote work availability from North America’s largest 50,000 employers since the global COVID-19 pandemic began.
As a result, remote work productivity tracking tools, like those offered by tech firms, such as Teamwork and Allstacks, have become an attractive tool for companies embracing the new work setup. This is also the reason why Allstacks, a US-based provider of a value stream intelligence platform, has raised $12.3 million in a Series A funding round. The company intends to use the funds to boost its workforce and expand the capabilities of its flagship monitoring tool.
Companyon Ventures led this latest funding round, with participation from Atlassian Ventures, CreativeCo, Hyperplane Venture Capital, S3, and ClutchVC.
Founded in 2017, and based in Raleigh, North Carolina, Allstacks is a value stream intelligence platform giving software organizations visibility and insights into how well they build software and shape their outcomes. The company uses a combination of machine learning and AI technology, which models across the software development lifecycle, to identify at-risk initiatives and provides solutions to help companies at building software.
The software startup has now raised $21.2 million since it was founded, according to startup profiler and funding tracker Crunchbase.