Stax.ai, a Scottsdale, AZ-based cutting-edge platform for third-party retirement administrators (TPAs), has secured $7 million in funding.
Investors
The round was led by Neotribe Ventures, bringing Stax.ai’s total funding to $11.65 million.
Neotribe Ventures is an early-stage venture capital firm specializing in deep technology investments with the potential to create new product categories. The firm leverages its company-building expertise to help portfolio companies achieve product-market fit.
Stax.ai Use of Funds
Stax.ai plans to use the funds to expand its platform, enhance payroll and census automation, and drive customer growth.
About Stax.ai
Stax.ai builds workflow automation tools for retirement TPAs, empowering them to better serve plan sponsors. The platform leverages advanced automation to streamline complex processes like payroll, census management, and retirement plan administration. It is already used by over 70 TPAs managing 120,000+ plan sponsors.
Funding Details
Company: Stax.ai, Inc.
Raised: $7.0M
Round: Unknown
Funding Date: November 2024
Lead Investor: Neotribe Ventures
Additional Investors:
Company Website: https://stax.ai/
Software Category: Workflow Automation
Source: https://www.businesswire.com/news/home/20241121470344/en