Digital payments giant Stripe is back in the buying market with the acquisition of a small San Francisco-based coding analytics startup for engineering teams Okay Software Inc. with only seven employees for an undisclosed sum.
Founded in 2019 by Antoine Boulanger (CEO) and Tomas Barreto (CTO), Okay provides analytics and reporting software designed to help engineering teams derive more insights from their workflows to help them streamline their processes and deliver projects faster.
The company provides a dashboard that acts as a single point of view of all engineering data, combining data ingestion, modeling, and exploration to help engineering teams spot any potential bottlenecks and introduce new efficiencies.
Okay says Stripe will look to leverage the start-up’s tech to boost its “engineering effectiveness”. The firm claims its tech can connect with “all the tools where engineers already work” and the platform “detects patterns in code reviews, calendars, and project trackers that alert before the situation becomes harder to manage”.
Announcing the acquisition, Boulanger and Barreto write: “As every company becomes tech-enabled, investing in engineering effectiveness and developer experience is of key importance not only to attract top talent and keep them but also to bring a better product to end users.”
Stripe CTO David Singleton tweeted that the company spends “a lot of time thinking about how to make sure developers have productive days” and that the integration of Okay will help the company “build more effective tools for Stripe engineers”.
The acquisition comes just months after Stripe raised more than $6.5 billion from investors at a $50 billion valuation, a significant drop from the $95 billion valuation the company secured after its $600 million funding round in March 2021.
