S|W: The SaaS Weekly – Auvik’s aggressive growth

The SaaS Weekly is a weekly newsletter covering major SaaS news from Canada and around the globe.

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Great Hill Partners acquires majority stake in Auvik Networks for $312 million CAD (BETAKIT)

Prior to securing the $312 million from Great Hill, Auvik had raised just over $50 million CAD total.


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Cybereason raises $275M at Series F, adds Steven Mnuchin to board (TECHCRUNCH)

Cybereason claims its technology has helped protect customers from the likes of the recent SolarWinds supply-chain attack and other high-profile ransomware attacks launched by DarkSide, REvil and Conti groups.


Google fined US$593M by French antitrust agency (BNN BLOOMBERG)

The Alphabet Inc. unit ignored a 2020 decision to negotiate in good faith for displaying snippets of articles on its Google News service, the Autorité de la concurrence said.


Miovision acquires Traffop to expand traffic management software platform (BETAKIT)

As part of the acquisition, Traffop’s employees will join Miovision and continue to work from their existing locations, while current Traffop customers will gain access to Miovision’s customer support team.


Netflix plans to offer video games in push beyond films, TV (BNN BLOOMBERG)

The idea is to offer video games on Netflix’s streaming platform within the next year, according to a person familiar with the situation.


Microsoft agrees to buy security software provider RiskIQ (CNBC)

The deal is worth more than $500 million, according to one report.


Ollie Order acquired by Next Glass, aims to bring liquor sales software to Ontario, the US (BETAKIT)

Under the Next Glass umbrella, Ollie has set its sights on bringing its omnichannel liquor sales software to new markets.


China sends state security, police officials to Didi for cybersecurity probe (WALL STREET JOURNAL)

The stationing of regulators at the ride-hailing firm is the latest development in saga that has gripped the country’s tech industry.


Arctic Wolf valued at US$4.3 billion on latest investment (COMMUNITECH)

Cybersecurity company Arctic Wolf Networks, which has a large office in Waterloo and deep ties to the region, has announced a US$150-million Series F funding raise and a new valuation of US$4.3 billion – more than triple the US$1.3-billion valuation it reached just last fall.


Happin raises $1.2 million to fuel growth of its hybrid event platform (BETAKIT)

Happin’s goal is to help the live performance industry navigate the future of events, both during COVID-19 and post-pandemic.


Facebook to pay creators $1 billion through 2022 (CNBC)

It’s one way the company hopes to attract influencers to create content for its platforms as it competes with other popular services, such as TikTok.


Remote raises $150m and becomes Portugal’s fifth unicorn (SIFTED)

Across the last year, Remote has seen its revenues increase by 65 times.


Prairie Robotics secures $690,000 CAD to identify recycling contaminants (BETAKIT)

The round follows Conexus’s recent announcement of plans to launch a new AgTech venture fund and accelerator to support Saskatchewan startups, as it aims to help make the province a global leader in the sector.


Databases will be a $100 billion market. Neo4j’s CEO just needs a sliver. (PROTOCOL)

The graph database company raised $325 million in June, which Neo4j said is the largest ever for a database startup.



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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.