Three months into the year, and it seems that the SaaS industry doesn’t want to catch a breath. Week after week, we’re seeing big news, significant fund-raising activities, notable mergers and acquisitions, and much more. That’s why, it’s important to understand the major trends with SaaS weekly roundup. So, without further ado, let’s begin.
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News of the week
Squarespace buys tech startup Tock for $400million plus
Squarespace, a leading website builder software, has announced the acquisition of the Chicago-based Tock. The company provides technology for online reservations, takeout, and more for service-based businesses such as restaurants and hospitality.
Cisco launches Cisco Plus, a step toward network as a service
Networking giant Cisco is jumping on the “as a service” bandwagon. The company has announced Cisco Plus that offers flexible subscription options to customers. Its users would be able to subscribe to compute, networking, and storage hardware.
Moveworks expands IT chatbot platform to encompass entire organization
Moveworks, a company that offers chatbot platform for the IT support for employees, is now aiming to help the organization with all sorts of issues. It has introduced a new communications tool to allow the Moveworks bot to communicate with employees directly.
MessageBird acquires 24sessions to bring video to its ‘omnichannel’ platform
Omnichannel cloud communications platform MessageBird has announced the acquisition of 24sessions, a video-based customer engagement platform. The terms of the acquisition weren’t disclosed, but it’s evident that MessageBird now has a lot of options for interactions with customers.
SaaS funding
HighRadius raises $300million, triples valuation to $3.1B for AI-powered fintech software
HighRadius offers a AI-powered fintech software and has raised $300million Series C funding. Led by D1 Capital and Tiger Global, the round values the startup at $3.1billion, triple of its valuation in January 2020.
Uniphore raises $140million to expand AI to video-call analysis
We’re seeing more and more companies harnessing the potential of AI. Uniphore uses artificial intelligence for improving phone-based customer support. With its latest Series D funding of $140million, the company would be expanding to video calls.
Hotmart company raises US$130million in Series C funding
Netherlands-based Hotmart offers a cloud platform for creators to let them build, run, manage, and grow digital businesses. It has closed a $130million Series C funding round led by TCV. It’ll be using the amount for product innovation and international expansion, including some M&A opportunities.
Capitolis lands a16z-led $90million Series C for fintech SaaS platform
Even traditional industries are opting for SaaS-based distribution. Capitolis provides a software for investment and merchant banks to eliminate, move or create trading positions. The New York-based company will be utilizing a part of its $90million Series C funding for product development and expand its team.
Israeli startup Zoomin offers the ability to organize all sorts of data like user guides, knowledge articles and community discussions in one place for a company. It has received a $52million Series C funding led by General Atlantic.
Streaming data integration startup Striim has nabbed a $50million funding. Led by Goldman Sachs Growth Equity, the company would be putting the money to scale its offerings for cloud integration, edge processing, and streaming analytics.
Productiv raises $45million to accelerate SaaS-driven business transformation
Productiv is a SaaS management platform to help companies manage the ever-expanding suite of SaaS software. It has announced a Series C funding round of $45million led by IVP, taking its total funding to $73million.
Rivery raises $16million Series A to expand SaaS DataOps platform
SaaS data management platform Rivery has received $16million financing. The startup launched in 2019, and helps companies for their organizational data through ingestion, transformation, and orchestration of data processes. The round was led by Entree Capital, and also saw the participation of existing investor State of Mind Ventures (SOMV).
Must reads
What SaaS startup founders need to know about vanity and value metrics
How startups can go passwordless, thanks to zero trust
SaaS arrives to ferret out insights on location data
Listen to
How FreshBooks is leveraging internal data for thought leadership
In this podcast, Paul Cowan, Freshbooks’ CMO talks about his journey to the current role, how to make your brand stand out in the marketplace. He also shares how to go about the rebranding activity, and use internal data for thought leadership.
SaaStr CEO Jason Lemkin shares 5 interesting learnings from MongoDB at $700million
SaaStr’s CEO and Founder tries to break down the learnings from MongoDB as it crossed $700million ARR. The biggest takeaway is that MongoDB has been able to do that while being an open-source software.
Watch
How ZenMaid increased conversions by 50% with an online summit
In this video, Zenmaid, a contract management software for maid services, shares about how they managed to increase their conversions by 50 percent with an online summit. Its CEO Amar Ghose discusses the strategy that helped them do that and cross $1.25million ARR.
