Welcome to the SaaS weekly roundup, a one-stop place for you to know all the major happenings in the world of SaaS. As always, this week witnessed a number of fund-raising announcements, along with quarterly earnings reports, and more. Let’s get right into it.
Table of Contents
News of the week
Shopify expands its one-click checkout, Shop Pay, to any merchant on Facebook or Google
E-commerce software provider Shopify is continuing to expand its footprints. After launching Shop Pay for its customers, it has now introduced a one-click checkout service for any US merchant selling on Facebook or Google.
Salesforce expands Work.com to move more formally into HR services
CRM software provider Salesforce is moving in other directions too. With its Work.com offering, it’s targeting HR and employee experience, taking on the likes of Workday. Its aiming to differentiate itself with its employee-centric approach.
Adobe beats Q2 expectations with growth across core clouds
Photoshop maker Adobe announced its Q2 revenues, which beat the analyst expectations. It achieved revenue of $3.84billion, growing 23% y-o-y. Its subscription revenue also continues to grow, which shows that Adobe’s pivot to the SaaS model has been working quite well.
Oracle beats Q4 expectations as cloud applications gain momentum
Oracle also announced its fourth-quarter results, which surpassed the analyst expectations. Its quarterly revenues were up 8 percent year-on-year to $11.2billion. For the entire fiscal year, its revenues were $40.5billion.
SaaS companies that got the funding this week
Neo4j raises $325million as graph-based data analysis takes hold in enterprise
Graph-centric database software Neo4j has raised significant funding of $325million in a Series F round. Valuing the company at $2billion, the round was led by Eurazeo. Additionally, Neo4j has become the most funded database company with total funding of over $500million, as compared to MongoDB and CockroachDB.
Multichannel marketing platform Iterable raises $200million
Iterable, the marketing automation software, has closed a $200million Series E round. With a valuation of $2billion, the startup would be using the amount for hiring, R&D initiatives, and expanding to more countries.
10x, a UK fintech, raises $187million to build new services for old banks
Fintech and banks are also moving to cloud and SaaS business models. 10x is a fintech company that helps banks in building next-gen services along with making older services more efficient. It has raised $187million as part of Series C funding with a reported valuation of $700million.
It seems Europe’s SaaS scene is becoming quite vibrant. Berlin-based marketing SaaS solutions platform Uberall has announced a $115million investment. It also has acquired the proximity search optimization tool MomentFeed.
Denmark’s Templafy raises $60million for its B2B SaaS platform that does business document creation
Document creation SaaS platform Templafy has received $60million Series D financing. Led by Blue Cloud Ventures, the startup highlights how it offers horizontal uses cases, instead of focusing on a specific use case.
Duda raises $50million to help SaaS firms build improved websites
Website builder software Duda has gotten $50million Series D funding. Led by Claridge IL, the platform will be using the amount for R&D, as well as for sales and marketing.
UserLeap raises $38million to track customer experiences
UserLeap is a platform that’s used by product teams for research. It has raised $38million Series B round led by A16z. The fund infusion would be used towards customer acquisition and global expansion.
Must reads
Anitian enables SaaS enterprises to take the fastest path to cloud security and compliance
Building a SaaS SEO moat based on search intent
Listen to
Rudan Zhang – VP of Marketing at Clubhouse.io – how to position your SaaS for a niche audience
Clubhouse.io’s VP of Marketing Rudan Zhang talks about the project management software in this podcast. She shares how Clubhouse.io is specifically focusing on software teams, and how that helps them differentiate from the competition.
Enterprise SaaS Masterclass | Yamini Bhat (Co-Founder & CEO, Vymo)
In this podcast, co-founder and CEO of Vymo Yamini Bhat, shares about her journey. She mentions how Vymo specifically caters to enterprises, how they are selling to them, customer success, partnerships, and more.
Christina Cacioppo – building the new standard in security
Vanta, a security and compliance software, has been going from strength to strength. In this episode, its founder Christina Cacioppo talks to host Patrick O’Shaughnessy, about her journey, how she found a gap to solve with Vanta, distribution strategy, and more.
Watch
SaaS strategic plan
With half of the year almost gone, it’s important to reflect upon the SaaS strategy for your business, or revamp it (if required). In this video, host TK Kader shares three principles that can help in revamping the strategic plan.
