S|W: The SaaS Weekly – Churn concerns

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Ritual cuts staff in half, reduces operations due to COVID-19(BETAKIT)

Toronto-based Ritual has laid off more than half of its employees and is set to reduce operations due to the impact of the COVID-19 pandemic.

SaaS growth appears to slow as churn concerns rise(TECHCRUNCH)

A set of charts provided to TechCrunch detail how the growth rate of SaaS companies, in both B2B and B2C, are falling.

Morneau provides more detail on government’s 75 percent wage subsidy for Canadian businesses(BETAKIT)

“This clause might be a killer for the tech ecosystem.”

Demand Driven Technologies raises $3.6M in Series Seed 2 round(BIZJOURNALS)

The round was led by Shawn Welch of Midtown Capital Advisors. Previous investors Mosley Ventures along with Alerion Ventures and other existing investors also participated.

Opencare lays off one-quarter of staff as it prepares to “weather the storm” of COVID-19(BETAKIT)

Toronto-based Opencare has laid off 18 members of its team, as its core business has been affected by the COVID-19 pandemic.

Notion, maker of collaboration software, raises $50 million(NYTIMES)

While many start-ups grapple with the fallout from the pandemic, this San Francisco company raised more cash to survive.

Federal government’s updated work-sharing program more open to startups amid COVID-19(BETAKIT)

“I believe this is a decent option for companies who don’t meet the 75 percent wage subsidy requirements.”

OctoML raises $15M to make optimizing ML models easier(TECHCRUNCH)

The core idea behind OctoML and TVM is to use machine learning to optimize machine learning models so they can more efficiently run on different types of hardware.

Traction on Demand, BC government create platform to coordinate medical supply donations(BETAKIT)

BC’s provincial government has partnered with organizations, including Traction on Demand, to create a platform coordinating supplies for health workers.

Corporate travel startup Huilianyi raises $42M amid industry turmoil(PYMNTS)

Huilianyi, a business travel platform, notched approximately $42 million in fundraising as China begins a possible economic renewal amid the global coronavirus pandemic, Phocuswire reported.

Introducing the Black Swan podcast by BetaKit(BETAKIT)

Recorded in quarantine, BetaKit has a new podcast to help Canadian tech to make it through COVID-19.

AristaMD raises $18M for eConsult platform(MEDCITYNEWS)

AristaMD, a San Diego-based startup facilitating eConsults, raised $18 million in a series B round led by Cigna Ventures and MemorialCare Innovation Fund.

Think Research, Ontario Psychological Association partner to offer virtual mental health services(BETAKIT)

Think Research has partnered with the Ontario Psychological Association (OPA) to make its virtual care platform available to OPA psychologists in Ontario.

How bad will SaaS churn get in the downturn?(TECHCRUNCH)

What happens to the industry now that the global economy has hit pause, layoffs are piling up across national economies and venture capital is slowing?

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.

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