Stax.ai, a Scottsdale, AZ-based provider of workflow automation tools for retirement third-party administrators (TPAs), raised $7M in funding.
The round was led by Neotribe Ventures.
Building on its 2023 seed round led by AZ-VC, the startup has raised $11.65M to date.
The company intends to use the funds to invest in its next phase of customer growth and product development, while also continuing to build its leadership team.
Led by CEO Naru Muraleedharan, Stax.ai builds workflow automation tools for retirement third-party administrators to empower them to streamline their operations and better serve plan sponsors. Customers utilize its Trust Accounting (TA) and Client Experience (CX) products to streamline critical tasks such as the collection and scrubbing of census data, offer a modern white-label client portal, manage sponsor communication, and automate trust reconciliation.
Over 70 TPAs are now using Stax.ai products covering over 120,000 plan sponsors.
FinSMEs
22/11/2024