The SaaS Weekly is a weekly newsletter covering major SaaS news from Canada and around the globe.
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1Password claims $744 million CAD round is largest in Canadian history (BETAKIT)
Toronto-based password manager startup 1Password has closed a massive, Hollywood star-studded round of Series C financing at a $6.8 billion USD valuation, more than triple its valuation last summer. The fresh funding follows a period of growth for the firm, which has increased its B2B business by more than 70 percent year-over-year over the past 24 months, and grown its customer base to more than 100,000 companies.
Competition for software developers is intensifying
The Information and Communications Technology Council is expecting digital jobs in Canada to surge above 2.2 million, adding nearly 250,000 vacancies by 2025.
Canadian companies are taking advantage of working remotely in distributed teams and your industry competitors are finding talented engineers elsewhere at reasonable rates.
Hiring Latin American developers makes a lot of sense. The region’s universities and startups produce highly skilled software engineers with international startup experience. Their convenient time zone and lower rates make this option a no-brainer.
Tap into DevEngine’s Latin American network, and see for yourself!
Microsoft to buy Activision Blizzard in all-cash deal valued at $75 billion (WALL STREET JOURNAL)
Microsoft has agreed to buy Activision Blizzard in an all-cash deal valued at about $75 billion USD, as it looks to grab a videogame heavyweight—the company behind titles like Call of Duty and World of Warcraft—that has been roiled by claims of workplace misconduct in recent months. Microsoft says the deal stands to make it the “third-largest gaming company by revenue, behind Tencent and Sony.”
Financial data and analytics firm Canalyst raises $70 million USD Series C (BETAKIT)
Founded in 2015 by James Rife (head of research) and Damir Hot (CEO), Canalyst has developed a SaaS platform that enables access to structured fundamental data and models on global public companies.
Lattice raises $175M at a $3B valuation for its people management platform (TECHCRUNCH)
The funding brings the total raised by Lattice to $330 million, and it’s coming just 10 months after the company last raised (a Series E at a $1 billion valuation).
Maropost acquires Australia’s Retail Express in $50 million CAD deal (BETAKIT)
Toronto-based commerce and marketing company Maropost has acquired Australian point-of-sale (POS) software provider Retail Express in its second acquisition to date. Maropost Chairman and CEO Ross Andrew Paquette told BetaKit that Maropost’s acquisition of the POS-focused firm provides its customers with a “much more significant solution for their retail operations.”
Why Netflix keeps cranking up its prices (THE VERGE)
The cost of streaming is starting to sting.
NowVertical, Emerge Commerce file base shelf prospectuses to fund acquisition plans (BETAKIT)
Toronto-based data analytics SaaS firm NowVertical is looking to raise up to $65 million CAD during the time its shelf prospectus is effective. According to the company, the funds raised would be predominantly used for fuelling its acquisition strategy.
One of Uber’s top dealmakers is leaving the company (BUSINESS INSIDER)
Jeremy Fine had been at the company for almost seven years and oversaw acquisitions including Postmates and Drizly.
What jobs at Apple, Xerox, and HP taught Vena Solutions COO Tina Goulbourne about building a startup (BETAKIT)
On the #CIBCInnovationEconomy Podcast, Tina Goulbourne shared how her previous jobs at global tech giants set her up for success at Vena Solutions.
TikTok’s global marketing chief abruptly departs (THE INFORMATION)
TikTok has ousted Nick Tran, its global head of marketing. Tran, who had been at TikTok since mid-2020, was known for his out-of-the-box ideas and campaigns, which one executive reportedly called “stunt marketing.”
Pluribus Technologies starts trading on TSX Venture Exchange after reverse takeover (BETAKIT)
Pluribus claims it acquires small, profitable B2B software companies at “reasonable prices” in a range of verticals and industries.
Funnelytics snags $1.85 million to launch version 2.0 of its analytics platform (BETAKIT)
Funnelytics, a Toronto-based customer journey visualization and analytics startup, has landed a $1.85 million CAD seed extension round from the GreenSky Accelerator Fund IV, with participation from MaRS Investment Accelerator Fund and angel investors from the GreenSky President’s Club.
VCs approached Facebook to fund a spinout of Workplace valued at over $1B, but Facebook declined (TECHCRUNCH)
A deal would have valued a newly independent Workplace as a “unicorn” (at least at $1 billion) according to the source.
AmpMe accused of boosting app sales through fake reviews by noted App Store critic (BETAKIT)
Montréal-based startup AmpMe has found itself in the crosshairs of the App Store’s “one-man Bunco Squad.” Kosta Eleftheriou, an American entrepreneur, is alleging that VC-backed AmpMe has purchased thousands of fake reviews in order to boost the popularity of its music app on the Apple App Store.