Digital payments giant Stripe has finalised its acquisition of Okay Software Inc., a tiny San Francisco-based coding analytics business for engineering teams, for an undisclosed amount.
Okay, founded in 2019 by Antoine Boulanger (CEO) and Tomas Barreto (CTO), delivers analytics and reporting tools to enable engineering teams to gain more insights from their workflows in order to streamline procedures and execute 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 stated on Twitter that the firm spends "a lot of time thinking about how to make sure developers have productive days," and that the integration of Okay will allow the company to "build more effective tools for Stripe engineers."
Stripe recently collected more than $6.5 billion from investors at a $50 billion valuation, a considerable decrease from the $95 billion valuation obtained following its $600 million investment round in March 2021.
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