LONDON — Asana acquired Stack AI, a no-code AI agent builder, for $75 million on Thursday, announcing the deal alongside its first-quarter earnings report. The transaction marks Asana’s first acquisition in 18 years.

Stack AI provides a platform for deploying AI agents that complete complex workflows end-to-end across enterprise systems, such as employee onboarding or marketing content quality control and publishing. The company’s agents operate within existing business systems and pull data from platforms including Salesforce, Slack, and Gsuite. Stack AI’s co-founders, Toni Rosinol and Bernard Aceituno, will join Asana along with the company’s full team of around 55 people.

Asana CEO Dan Rogers said, "The coordination and collaboration challenge moves from human to human to human to agent. Asana is becoming the operating system for human-agent teams." Rogers, who became CEO less than a year ago following co-founder Dustin Moskovitz’s departure, added, "This acquisition accelerates our roadmap and takes us into the next phase of human-agent work. We’re already seeing real momentum with AI Teammates and AI Studio … StackAI now lets them go further, agentifying the most complex business processes end-to-end." He also said, "If you looked at the roadmap of the things they were building and the roadmap of the things we were planning on building, it’s a perfect overlap." Rogers expects full integration within two to three months.

The move comes as Asana seeks to adapt its business model to the rise of AI agents, which can perform work that previously required multiple human users—challenging Asana’s traditional per-employee seat pricing. The company’s AI products, AI Studio and AI Teammates, launched within the past year, now account for more than 17% of new annual recurring revenue. During the quarter, the number of customers spending over $100,000 annually on AI Studio nearly doubled.

Asana reported first-quarter revenue of $205.1 million, up 9.5% year over year and above the high end of guidance, though the company remains loss-making on a net basis. Its shares rose more than 13% following the earnings beat, despite having lost roughly half its market value since the AI boom began. The stock had fallen from a 52-week high of $19 to a low of $5.38 over the past year.