SaaS search tool developer raised $10,000 in convertible promissory notes

Stacksearch,Inc. completed a first close of $10,000 on an expected $250,000 convertible promissory note offering. One investor participated. The company was awarded $18,500 in start-up money in exchange for a 6% stake by Ark Challenge an Arkansas based accelerator program. Ark Challenge is backed by the Economic Development Administration (EDA), the Small Business Administration (SBA) and the Employment and Training Administration (ETA), as well as Winrock International, Gravity VenturesFund for Arkansas’ Future and the Arkansas Development Finance Authority.

The company provides search-as-a-service tools to developers and e-commerce merchants. Their first product is a cloud powered ElasticSearch which eliminates the need for developers to install, maintain, patch, monitor, and scale their search infrastructure. The second product is an e-commerce offering which helps small to medium-size e-commerce merchants reduce site abandonment and increase conversions with search features that are fast and flexible.

The company, located in Fayetteville AK, was founded in July 2012 by Mark Brandon (President) and Sloan Ahrens (CTO). The executive team includes Victoria Coppett (Sales and Community Manger), Ben Hundley and Sam Friday (Developers). James Hendren sits on the board of directors.


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