Asana Snaps Up Stack AI in $75 Million Bet on AI-Powered Workflows

Asana is making a big push into the future of work. On Thursday, the project management company announced it has acquired Stack AI, a no-code agent-building startup, for $75 million. The deal is part of Asana’s broader strategy to transform itself into what it calls “the operating system for human-agent teams.”

Stack AI, founded by Tony Rosinol and Bernard Aceituno, specializes in building AI agents that plug into existing business tools like Salesforce, Slack, and Google Workspace. The startup, which was part of Y Combinator’s Winter 2023 batch, had raised nearly $20 million before the acquisition. Its most recent funding round was a $16 million Series A led by Gradient, Epakon Capital, and others.

Asana has been rolling out its own AI features over the past few years, including AI Studio and a series of pre-built automations called AI Teammates. But the company says Stack AI’s technology will help it tackle more complex, end-to-end business processes. “This acquisition accelerates our roadmap and takes us into the next phase of human-agent work,” said CEO Dan Rogers.

The move comes at a tough time for Asana on Wall Street. The company has lost more than half its market value since ChatGPT launched, and its founder Dustin Moskovitz stepped down as CEO last March. Still, revenue continues to grow, and Asana’s leadership is betting that deeply integrating AI into everyday workflows—rather than offering standalone tools—will give it an edge over rivals like Zapier, OpenAI, and Anthropic.

Stack AI’s founders will join Asana as part of the deal.