Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features, and editorials published on BetaKit. If you prefer this update hit your inbox every week, make sure to subscribe to the BetaKit Newsletter using the form at the bottom of this page.
Top Stories of the Week
The company noted the decision was due to the current “unprecedented economic uncertainty.”
The disparity in terms between exiting and remaining startups has created tension among OneEleven’s member community, according to those BetaKit spoke with.
If accurate, ApplyBoard’s new valuation makes it the latest Canadian tech company to reach Unicorn status: a private company with a market value over $1 billion USD.
Backed by Shopify co-founder Scott Lake, RiSC Capital launches new early-stage fund focused on deep tech
“[Often in Canada] we play catch up to the Americans and I think the time is now for deep tech investing to happen in Canada.”
COVID-19 “validates” Shopify’s decision to expand into this market, Finkelstein said on the call, even as some of the incumbent delivery networks are straining.
Latest Funding, Acquisitions, and Layoffs
Bliinx raises $1M pre-seed round (Read here)
SAM raises $3.6M (Read here)
Potential Motors raises $2.5M seed round (Read here)
Symend closes $73M Series B round (Read here)
Tehama raises $14M (Read here)
PointClickCare acquires Co-Pilot (Read here)
Boosted.ai raises $11.2M Series A (Read here)
POWERED BY SAGE INTACCT
The decisions a Finance Leader at a SaaS company must make haven’t changed, but how they decide and with what resources has become more complex. Tracking cash, churn, and DSO is critical to understanding your runway today. Then, forecasting how to bounce back and where to invest is the next of many growth opportunities to consider.
Join Bruce Croxon, partner at Round13 Capital and co-host of BNN’s, The Disruptors, and Matt Hodgson, CFO at Vidyard, as they address the challenges and opportunities of a shifting landscape in the SaaS industry.
Jeremy Hedges, CEO of The Canadian Shield, explains the process of pivoting one business while launching another one in the middle of a pandemic.
Luke Vigeant (Inkblot Therapy) and Brett Belchetz (Maple) share how their telehealth startups changed before and after COVID-19.
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