The SaaS Weekly is a weekly newsletter covering major SaaS news from Canada and around the globe.
Subscribe to S|W using the form at the bottom of this page to ensure you don’t miss out on the most important SaaS news every week!
Hospitality platform 7shifts secures $101.6 million CAD to increase staffing, product development (BETAKIT)
On the heels of what it called a significant year of growth, Saskatoon-based 7shifts has raised $101.6 million CAD in Series C funding to scale its restaurant staff management platform. The much larger round comes less than a year after 7shifts scored $25.9 million in Series B capital.
How Clearco’s Finance Tech Stack Saved 2500 Hours and Facilitated 8X Growth
Accelerated growth puts big demands on the finance team. Join our exclusive webinar on Tuesday, February 22, 2022, at 11 AM PT / 2 PM ET with Clearco’s VP Finance, Michael Munroe. In this session, the panel will explore how Michael developed Clearco’s Finance Tech Strategy and roadmap, the selection process and criteria for their tech stack, and the resulting benefits of finance automation.
Learn how the finance team moved from 80% tactical to 80% strategic work with Sage Intacct.
Cisco has discussed deal for software company Splunk (NEW YORK TIMES)
No deal is currently on the table, according to two people familiar with the talks, but Cisco could pay more than $20 billion, one said.
Elastic Path secures $60 million to scale “composable commerce movement” (BETAKIT)
The new capital brings Elastic Path’s total funding to over $120 million, positioning the e-commerce tech firm to build on what it describes as a “strong 2021” that saw an over 400 percent year-over-year growth.
Zendesk receives takeover approaches (WALL STREET JOURNAL)
Thoma Bravo LP has also expressed interest, some of the people said. It isn’t clear which, if any, other suitors might be circling Zendesk.
Dozr raises $27.5 million in Series B funding to support US expansion plans (BETAKIT)
According to Dozr, the startup’s Series B round consisted “mostly” of primary capital, but also involved “some secondary.”
11 Canadian tech companies to watch in 2022 (BETAKIT)
ControlHQ’s co-founder is back with his #CDNtech crystal ball. Here’s Kevin Sandhu’s annual list of Canadian tech companies that will make significant strides in 2022.
Microsoft considers pursuing a deal for cybersecurity firm Mandiant (BNN BLOOMBERG)
Microsoft Corp. is considering making a bid for cybersecurity-research and incident response company Mandiant Inc., according to a person familiar with the discussions, a deal that would bolster efforts to protect customers from hacks and breaches.
Odaia secures $17.5 million CAD to help pharma firms focus their sales and marketing with AI (BETAKIT)
Odaia’s platform aims to solve “a really key problem in a very big industry” — how to derive actionable, real-time commercial insights from pharmaceutical sector data. The Toronto-based software startup has secured approximately $17.5 million CAD in Series A funding to expand the reach of its software for commercial teams at pharma companies.
Forma.ai quadruples annual revenue, sets out to disrupt sales compensation (BETAKIT)
“In this last year, not only have we truly demonstrated that we can handle the most complex of sales comp challenges, but we’re doing it in a way that’s totally disrupting how organizations operate, for the better,” Alazzam told BetaKit.
Starburst $250M funding round boosts valuation to $3.35B (SILICONANGLE)
The company has allied itself closely with the concept of a “data mesh,” in which business units within enterprises that are closest to data take ownership of it, curate it and expose it as a product to internal and external constituents.
Trulioo acquires HelloFlow, adding customer onboarding to platform (BETAKIT)
Trulioo claims that its customers will see increased efficiencies as the automated tool provides a vastly simplified onboarding process.
How Telegram became the anti-Facebook (WIRED)
Hundreds of millions of users. No algorithm. No ads. Courage in the face of autocracy. Sound like a dream? Careful what you wish for.
Coveo sees 39 percent year-over-year revenue growth in “record” Q3 (BETAKIT)
“We delivered record results in [Q3] demonstrating the demand for AI-powered relevance within modern digital businesses.”
Potential Motors closes $4 million CAD to improve off-road electric vehicle performance (BETAKIT)
Fredericton-based electric vehicle (EV) tech startup Potential Motors has raised a $4 million CAD to improve the performance of electric side-by-sides. Over in Montréal, fellow software company Axya has also raised a seed extension, closing $3.9 million to scale its supply chain solution.
