The SaaS ecosystem continues to be abuzz with acquisitions, significant funding announcements, and more. And the past week was no different. So if you are unable to keep up with the latest happenings, then fret not. Our weekly roundup helps you focus on all the things that matter.
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News of the week
Amplitude valued at $5billion after shares jump in Nasdaq debut
Analytics software company Amplitude has a silent debut on Nasdaq as it opted for a direct listing. That doesn’t mean that the market didn’t respond favorably. Compared to its reference share price of $35, its stock opened at $50 per share… resulting in a valuation of $5billion.
Related tweet: https://twitter.com/sarthakgh/status/1443965932171374595
Zoom and Five9 abandon $14.7billion acquisition
It’s surprising to see a deal getting pulled so soon. It was in July that the video conferencing software Zoom announced the all-stock purchase of Five9, a contact center software company, for $14.7billion. However, Five9 shareholders rejected the offer from Zoom, and amidst the regulatory concerns, the companies decided to not pursue the deal further.
Related listen: Why did the Zoom-Five9 deal eat %#*& and die?
While zoom’s acquisition failed, Sinch – popularly known as a Europe-based Twilio competitor – has acquired Pathwire. The deal is worth $1.9billion and adds email communication to Sinch’s portfolio with products like Mailgun, Mailjet, and Email on Acid.
RPA industry consolidation continues with sale of Blue Prism to Vista for £1.095billion
Vista Equity Partners has been on an acquisition spree in the SaaS space. The latest buyout is for the Robotic Process Automation company Blue Prism for $1.5billion USD. It’ll join another company in Vista’s portfolio – Tibco – promising next generation of intelligence automation.
New guidelines on recurring payments may send SaaS companies out of India, say experts
It seems the SaaS ecosystem in India continues to find a way to stay in the limelight. While last week marked a momentous occasion, this week wasn’t because of something positive. The Reserve Bank of India initiated the new guidelines for recurring payments starting October 1st, where the transactions will need to authenticate every month. And without a doubt, this will affect SaaS companies the most. In addition, the companies highlight that this will add to a lot of paperwork as they’ll need to follow up with customers for making payments in a timely manner.
SaaS companies that got the funding this week
Identity operating system provider for banks and fin-tech companies, Alloy has gotten $100million in Series C funding. Led by Lightspeed Venture Partners, it’s now valued at $1.35billion.
Kore.ai raises $50million for its AI-powered experience optimization platform
Kore.ai provides virtual assistants powered by AI to help companies in their business operations. It has nabbed $50million in funding that was led by Vistara Growth and PNC.
Salesforce and Atlassian double down on developer security with $75million Snyk investment
Snyk, a security company, has been growing at a breakneck pace. Just a couple of weeks back, it has announced a mega funding round of $530million. Now, it has extended the Series F round by another $75million, closing the round at $605million. Worth noting that Salesforce and Atlassian now have invested around 10 percent in Snyk that has raised $850million in total.
AI-powered contract management platform Malbek lands $15.3million
Malbek, a contract lifecycle management startup based out of New Jersey, has received $15.3million in funding. Led by Moro-Moseley Partners, the amount will be used for product development.
Must reads
Startup to Scaleup: How Girish Mathrubhootham built the Saas-y Freshworks
Related watch: Freshworks IPO: An Infosys Moment For Indian SaaS?
The $15billion battle to reach your email inbox
Listen to
Bootstrapping to $29million ARR or $80million in LTV
When it comes to successful bootstrapping stories, ConvertKit ranks high on the list. Its founder and CEO Nathan Barry has appeared on several podcasts dropping insightful knowledge, and this one is no different. He shares how the email marketing software company grew to $29million ARR in the span of 8 years.
Hila Qu (GitLab): B2B vs B2C growth
We often get confused about how to focus on growth from the B2C and B2B perspectives. This podcast simplifies it as GitLab’s Hila Qu draws from her experience of working on both sides to tell us how they differ. She also shares which practices from the B2C world could be followed for B2B companies.
Watch
SaaS growth hacking strategies to attract new customers
Growth hacking has become a buzzword, but how can one get it right? In this video, host TK Kader shares three strategies that can be leveraged to get new customers and help grow the SaaS business faster.
