Asana Acquires AI Workflow Automation Platform Stack AI for $75 Million Asana is betting that deeper automation, not just more features, will reverse its sliding stock price, moving quickly to buy Stack AI and fold its agent technology into the heart of its work platform.

On May 28, Asana announced it had acquired Stack AI, a no-code platform for building AI agents that work across enterprise tools such as Salesforce, Slack and Google Workspace, in a deal reported at $75 million. The news was timed to land just after Asana’s first-quarter earnings call, where the company reported revenue of $205.1 million, up 9.5% year over year, and raised its full-year guidance.

Founded out of Y Combinator’s Winter 2023 cohort, Stack AI had raised just under $20 million, including a $16 million Series A backed by Gradient, Epaklon Capital, Lobby VC, LifeX Ventures and Vercel CEO Guillermo Rauch. Its platform lets companies design, test, deploy and govern custom AI agents without code, adding a “cross-system execution layer” that can reach into ERP, CRM and IT service tools to automate workflows like customer support and compliance.

Asana has been steadily repositioning itself as an “AI-native workplace platform,” rolling out AI Studio for custom agent building and AI Teammates, a $15-per-user prebuilt agent bundle for functions like marketing and IT. But until now, those agents largely lived inside Asana’s own environment. Stack AI’s technology is meant to extend that reach across the rest of a company’s software stack, supporting Asana’s ambition to become “the operating system for human-agent teams,” as CEO Dan Rogers has repeatedly framed it.

Analysts note that the move comes amid a harsh market reset for SaaS providers, with Asana’s share price down more than 53% this year despite improving margins and a modest after-hours bump on the earnings and acquisition news. Internally, leadership is casting Stack AI as an acceleration of a broader AI pivot: an attempt to turn Asana’s deep integration into day-to-day corporate workflows into a differentiator against both traditional automation platforms and large AI labs.

Continue reading https://foxvector.com/stories/019e7603-82c0-1f2a-72fd-124e3a0eaa30