Propellant Ventures Makes an Investment into Chicago-Based SquareStack!
Propellant Ventures is pleased to announce that it made an investment into Chicago-based SquareStack. The company is a Business Applications Management and Discovery Platform created for Small to Medium-sized Businesses (SMBs). SquareStack solves the critical issues of selection, integration, and organization of existing business software, to further drive efficiencies for better decision making, saving time, and sourcing new apps. SquareStack was started by seasoned entrepreneur Bill Furlong. Propellant Ventures was a co-lead with this investment. Reasons we liked this opportunity include:
- Seasoned Founder - The founder has 20+ years of business media experience and is an accomplished serial entrepreneur. He sold his last company to LinkedIn and had exits for two other companies as well. With SquareStack, the founder is complemented by a team of seasoned professionals with experience in startups, media, brands, SMB, and B2B.
- Early Market Traction - SquareStack just started generating recurring revenue through its major channel partners, which provides access to over 8 million businesses.
- Market Dynamics - As cloud based solutions continue to proliferate and more work from home is taking place, the SMB owner is completely overwhelmed by choice. SquareStack has addressed this challenge by creating a "business apps command center" for the SMB. It allows the business to consolidate all of its software tools into a single user friendly dashboard with the ability to review all key business metrics in real time and access each tool with one user name and password.