S|W: The SaaS Weekly – A new era for enterprise IT

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!


BetaKit

University of Ottawa’s MakerLaunch startup program gets a $1.5 million boost

The University of Ottawa’s faculty of engineering has received a $1.5 million CAD investment for its startup program MakerLaunch.


Dell Technologies says it’s prepping customers for 5G and AI with new portfolio

Dell Technologies has unveiled a handful of new solutions aimed at equipping customers with the tech required to take advantage of “transformative” trends including 5G, artificial intelligence (AI), cloud, and security.


Parity raises $5 million to make urban living sustainable

Toronto-based computer software company Parity, which uses technology to reduce carbon emissions for condos and multi-tenant buildings, has raised $5 million CAD.


Tray.io raises $37M in Series B funding

The round was led by Spark Capital with participation from Meritech Capital and existing investors GGV Capital, True Ventures, and Mosaic Ventures. In conjuction with the funding, Spark Capital’s Alex Clayton will join Tray.io’s board of directors.


VMware revamps partner program to up its SaaS game

One purpose of simplifying the partner program is to allow partners to co-build and integrate more easily. Easier integration means VMware and its ecosystem can recognize the total value individual partners contribute, rather than a single piece part.


Webware raises $2 million CAD following brick-and-mortar partnership with Staples

Webware.io, a Toronto-based website platform for small businesses, announced that it has received $2 million in strategic financing from a group of investors led by founder and CEO of Mossco Capital, Moss Kadey.


Vault Platform raises $4.2M to fix workplace misconduct reporting

Vault Platform, a London-based startup that has built software to “re-imagine” workplace misconduct reporting, has raised $4.2 million in seed funding.


Hootsuite lays off 100 employees, 10 percent of its staff

The company did not disclose which departments or offices were impacted or exactly how many staff members were let go, but a source told the Daily Hive that the layoffs included more than 30 marketing staff and more than a dozen sales staff.


Happy Loans raises $20M to strengthen its micro enterprise loan offering

The funding round includes a mix of equity from Indian and US strategic investors, and financing lines from institutions including DMI Finance.


Disruption Ventures cuts first cheque to women-led Hostfully

Disruption Ventures, a Canadian female-founded venture capital fund investing in women-led businesses, has deployed its first investment.


Industrial IoT startup Altizon raises $7M to take on PTC, Siemens

Industrial Internet of Things startup Altizon has raised a fresh $7 million in funding to challenge PTC, Siemens and other major players in the smart manufacturing space.


Lightspeed receives $30 million stand-by acquisition loan from CIBC

Along with the acquisition loan, the Montreal-based company also entered into a $25 million demand revolving operating credit facility.


A new era for enterprise IT

Proving this isn’t just private market hype, enterprise cloud companies have well-exceeded $500 billion in market cap and are on a path to hit $1 trillion in the next few years.


Vdoo raises $32 million to secure IoT devices

Co-CEO and cofounder Netanel Davidi said the cash infusion will be used to accelerate the development of Vdoo’s automated analysis capabilities, which benefit from a proprietary data set of 70 million embedded systems’ binaries and more than 16,000 versions of embedded systems.


Kobalt closes $1 million CAD round from founders Pankaj Agarwal, Boris Wertz

Cybersecurity startup Kobalt has raised a $1 million CAD founders round, led by its co-founders, Pankaj Agarwal and Boris Wert, as well as Version One Ventures.



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Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.