Stack Overflow secured $85 Million in Series E Funding round led by GIC

Stack Overflow, a New York-based platform for the developers and technologist, has now secured $85 million in Series E funding round.

Stack Overflow is founded by the Prashanth Chandrasekar. It is a collaboration platform for developers and technologists to work asynchronously to ship products fast, accelerate onboarding, drive innovation, and improve customer experience.

Prashanth Chandrasekar, Stack Overflow CEO, said, "This $85 million in new funding, fueled by the growth of Stack Overflow for Teams, allows Stack Overflow to scale rapidly, to accelerate our transformation into a leading SaaS company, to expand into new markets, and to continue to invest in our public platform and the community that is the foundation of our company".

Chris Thomas, Managing Director at Moody's Analytics, a customer of Stack Overflow, said, "Stack Overflow for Teams makes it easy for our developers to find the information they need quickly. It reduces the repetition of questions internally and eliminates cross-functional silos. Stack Overflow for Teams helps us drive more collaboration and innovation at Moody's Analytics, especially as we've gone fully remote."

The round, which brings the total funding to $153 million, was backed by the GIC with participation from Silver Lake Waterman, Spark Capital, Index Ventures, Union Square Ventures, and Andreessen Horowitz.

The company, as of now, has plans to use the new funds to scale its SaaS knowledge management and collaboration offering, that is Stack Overflow for Teams.

PC: Pablo, Unsplash