S|W: The SaaS Weekly – Canadian SaaS has “arrived”

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

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HiMama rakes in $70 million baby bonus to pursue growing childcare market (BETAKIT)

As the need for quality childcare has increased due to COVID-19, and governments like Canada and the United States expand investments in childcare programs, HiMama is ready to seize a sizeable market opportunity.


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Activision CEO Bobby Kotick knew for years about sexual-misconduct allegations at videogame giant (WALL STREET JOURNAL)

According to The Wall Street Journal, Activision CEO Bobby Kotick was aware of sexual-misconduct allegations at the company for years, but did not inform the board of some of them, including alleged rapes. Following this report, the video game giant behind Call of Duty has faced serious criticism from key partners Xbox and Playstation.

How a shift in strategy took once-struggling Looka back to profitability (BETAKIT)

In the fall of 2019, Toronto-based Looka was facing major difficulties, laying off 80 percent of its staff following a failed rebrand that cut its revenue in half. But two years on, after shifting its strategy, the startup has turned things around, tripled its monthly revenue, and returned to profitability.

What To Expect From Your Lead Investor (BETAKIT)

Silicon Valley Bank shares tips on what to expect from your lead investor and how to build a strong relationship with them.

Customer engagement platform Braze jumps after IPO tops target (BNN BLOOMBERG)

Customer engagement software maker Braze Inc. rose as much as 43% in its trading debut after an initial public offering that priced above the marketed range to raise $520 million.

Klir raises $20.1 million CAD to help cities, utilities better manage water (BETAKIT)

The funds will be plunged into engineering, product development, and sales and marketing.

Canadian SaaS funding in 2021 rebounds from 2020 low, fuelled by influx of US investors (BETAKIT)

In 2020, during the pandemic, only $1.17 billion in total capital was invested in Canadian SaaS startups, compared to $5.13 billion the previous year.

How Facebook and Google fund global misinformation (MIT TECHNOLOGY REVIEW)

The tech giants are paying millions of dollars to the operators of clickbait pages, bankrolling the deterioration of information ecosystems around the world.

CDW survey uncovers troubling data about the state of cybersecurity in Canadian startups (BETAKIT)

Theo Van Wyk, Head of Solutions Development and Cybersecurity at CDW Canada, unpacks troubling statistics from a new CDW cybersecurity survey.

L-SPARK’s Leo Lax: Canadian SaaS has “arrived” (BETAKIT)

In a series of interviews from SAAS NORTH, BetaKit spoke to L-SPARK’s Leo Lax about how Canadian SaaS has “arrived,” Bessemer Venture Partners’ Alexandra Sukin about the firm’s SaaS investment approach, and RBCx’s Anthony Mouchantaf about Canada’s tech ecosystem’s dependence on government support.

Apple quietly buying ads via Google for high-value subscription apps to capture app publisher revenue (FORBES)

Impacted businesses include major brands such as dating apps like Tinder, Plenty of Fish, and Bumble, media giant HBO, education and learning publisher Masterclass, and language learning service Babbel.

Judo scores $3.8 million CAD to expand no-code mobile app development solution beyond sports (BETAKIT)

After establishing itself and gaining profitability serving sports franchises like the Milwaukee Bucks, Minnesota Vikings, San Jose Sharks, and Everton FC, Judo is moving into new verticals like consumer FinTech and retail.

BetaKit Live: How to drive growth and innovation through impact investing (BETAKIT)

In the next BetaKit Live on Thursday December 2, leaders from TELUS Pollinator Fund for Good, the Global Impact Investing Network, and Gotcare explain the corporate venture capital and impact investing space.

Tribe acqui-hires founders of pe•ple to revamp its online customer community platform (BETAKIT)

Toronto-based Tribe has announced the acqui-hire of two of the co-founders of pe•ple. Elsewhere in SaaS acquisition news, ETS Strategic Capital has taken a majority stake in Toronto’s Kira Talent, and Schlesinger Group has acquired key assets from Toronto-based Delvinia.

Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache.

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