Despite the slowdown, we’re seeing acquisitions, new launches, and fundraising announcements in the SaaS space. So if you missed the happenings of the last week, then keep reading to know everything that matters.
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News of the week
KKR-backed UK startup Paddle strikes $200million deal
It was just a couple of weeks ago that billing and invoicing software Paddle raised $200million. Now, it seems that it’s making good use of the cash infusion. It’s acquiring ProfitWell, a subscription analytics software, for $200million in a mix of cash and equity.
Stripe’s new apps marketplace brings third-party tools directly into Stripe
Stripe – among the world’s most valuable startups – has introduced an app marketplace to offer third-party apps and their features directly on its platform. The Stripe Apps Marketplace has launched with more than 50 apps from companies like Xero, Mailchimp, DocuSign, and Intercom.
Workday nearly doubles losses as waves of deals pushed back
HR software Workday is reeling under the pressure of the slowdown. It announced an operating loss of $72.8million in the first quarter, which is nearly double the loss in the same period last year. That said, it has increased its revenue guidance between $5.537billion and $5.557billion, which is 22 percent higher than previous estimates.
Box positive momentum continues with revenue up 18 percent and improved guidance
Cloud content management software Box has been gaining ground amidst doubts about its growth. It announced an increase of 18 percent y-o-y in its revenue to $238.4million, which is higher than analysts’ estimates.
SaaS companies that got the funding this week
Customer support management platform Assembled lands $51million
Workforce management platform Assembled has received $51million in Series B funding. Led by NEA (New Enterprise Associates), the amount will be utilized for product development along with launching an initiative dubbed CX Scholars, that will ensure that support workers can continue their education.
Zip lines up $43million at a $1.2billion valuation for its growing ‘concierge for procurement’
San Francisco-based Zip helps businesses purchase software, and hire an agency or contractor, easily. It has become a unicorn within 18 months as it has closed a $43million Series B round at a $1.2billion valuation. The round was led by YC Continuity, and Zip aims to double its employees within this year.
Data lineage platform Manta raises $35million to help companies map data flows
Data lineage platform Manta makes it easier to understand and visualize the flow of information in an organization. It has nabbed $35million as part of Series B investment. Led by Forestay Capital, the amount will be deployed towards expanding its global presence and product development.
Rivery raises $30million B round of venture funding from Tiger Global
SaaS ELT platform Rivery has announced a $30million Series B funding round led by River Global Management. The funding will go towards growing the teams in New York and Tel Aviv HQ as well as the newly-launched London office.
FinTech equipifi raises $12million for BNPL bank service
The incredible rise of BNPL (Buy Now Pay Later) has taken everyone by surprise. But implementing it isn’t an easy task. That’s what equipfi is doing by offering a white-label solution for banks and credit unions to implement BNPL service. It has raised $12million led by credit union-focused Curql Collective.
Must reads
The new youngest self-made billionaire in the world is a 25-year-old college dropout
Yes, SaaS startup growth is slowing down. Here’s the data
Listen to
Second time CEO, Griffin Parry on building a usage based pricing SaaS startup
With the proliferation of SaaS across organizations, usage-based pricing is becoming more prevalent as compared to standard monthly pricing or user-based pricing. In this podcast, M3ter’s CEO Griffin Parry shares the inception of the usage-based pricing startup, and why it’s becoming so popular. He also shares the biggest lessons learned throughout his career and how one can improve themselves as a CEO.
Interact: lessons on overcoming a SaaS revenue plateau – with Josh Haynam
Interact is a SaaS startup that lets anyone create interactive quizzes, assessments, and more easily. Its co-founder and CEO Josh Haynam shares the early days of Interact, how it got the initial customers, how it managed to get good organic traffic, and how it competed against well-funded rivals.
Building a values playbook that led to a $1.3billion exit with Emery Wells, Co-Founder & CEO @ Frame.io & VP, Digital Products, Adobe
Culture is most important for a company to grow, yet it’s also the most ignored aspect. In this podcast, Frame.io’s co-founder and CEO Emery Wells share how it got that right, which eventually led to the acquisition by Adobe for $1.3billion.
Watch
SaaS Go To Market strategy problems – improve your B2B GTM strategy with customer segment analysis
Go To Market strategy can make or break a SaaS startup’s growth. This video breaks down what is GTM, how the market and customers should be segmented, how to prioritize customers, and more.
