S|W: The SaaS Weekly – Bessemer’s good, better, best

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!


BROUGHT TO YOU BY SAGE INTACCT:


BetaKit

Ada Support lays off 23 percent of staff amid uncertainty caused by pandemic

Ada Support has permanently laid off 36 full-time employees, representing just under one-quarter of the company.


RECOMMENDED BY SAGE INTACCT:

Your accounting and finance system may be slowing you down

Billing used to be easy. Products were billed once when they were sold or delivered. Now software companies have a blend of products—subscriptions, usage billing, services, training, and perpetual licenses. Some of it is billed once, and some of it is billed every month.

Many accounting systems weren’t built to handle this complexity, and can’t be easily integrated with Salesforce to automate your quote to cash process. Learn the clear five signs you’re outgrowing your accounting and finance system.


TechCrunch

The good, better, and best of cloud and SaaS growth

The crew at Bessemer released their new, yearly cloud report this week. It’s a useful lens into how venture capitalists are thinking about cloud and SaaS startup performance metrics.


BetaKit

Sampler mobilizing consumers to sew medical masks for essential workers

Sampler has launched an initiative that aims to produce over 20,000 non-medical grade masks for essential workers in Toronto.


AWS AppFlow hopes to bring a SaaS revolution

Amazon Web Services (AWS) is looking to make the movement of data between its servers and SaaS applications more straightforward with the launch of an extensive new integration service.


BetaKit

FreshBooks reduces headcount by 9%, CEO says company remains in “growth mode” despite COVID-19

Toronto-based cloud-accounting software company FreshBooks has laid off 38 staff members, which represents nine percent of its workforce.


IoT-based wireless access control startup Spintly raises pre-Series A funding

The Bengaluru-based startup said in a statement it will use the funds to boost its customer acquisition, expansion and accelerate its product development process.


BetaKit

E-grocery tech project receives $250,000 from Digital Technology Supercluster to build provincial system

Food-X Technologies will lead a new collaboration aimed to develop an e-grocery management system for the provincial government and health authorities in BC.


TechCrunch

Atlanta’s SingleOps raises $6M for its outdoor-care-focused software business

Before this new $6 million round, SingleOps had raised just $2.5 million, using that to scale up to 30 staff (its software team is remote, making the company more prepared for COVID-19 than most) and around 400 customers.


BetaKit

Applications for emergency co-lending begin to open as BDC finalizes program

Financial institutions will now roll out the program to businesses today and in the coming days.


Cloud infrastructure management startup env0 raises $3.3M

The round was led by Boldstart Ventures and Grove Ventures, while Guy Podjarny of Snyk Ltd. participated as an angel investor.


BetaKit

BDC survey says 90 percent of Canadian entrepreneurs feel negative impact of COVID

A survey conducted by the BDC found that while the level of worry around COVID-19 has decreased, 90% of Canadian entrepreneurs continue to feel the impact.


Guru raises $30M in Series C funding

Guru, a Philadelphia, PA-based provider of a collaborative knowledge management software platform, raised $30m in Series C funding.



Subscribe to S|W: The SaaS Weekly Newsletter

* indicates required




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.