S|W: The SaaS Weekly – Clock’s ticking for TikTok

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!


VPN startup Tailscale raises $14.5 million CAD Series A (BETAKIT)

Tailscale, which has developed what it calls “a new kind of corporate VPN,” has closed a $14.5 million CAD ($12 million USD) Series A round of funding.


RECOMMENDED BY #CIBCINNOVATIONECONOMY:

Diving into a New Career with Aquatic Informatics CEO Ed Quilty

Cleantech superhero Ed Quilty fell into the business of saving lives through water monitoring. After losing the University internship he wanted, he turned a closed door into an unlimited window of opportunity.

On the #CIBCInnovationEconomy podcast series, we learn how, and why that’s the same advice he gives his employees today.


TikTok granted 15-day extension on forced sale deadline (BNN BLOOMBERG)

The penalties that ByteDance would face if it failed to sell TikTok to a U.S. company by Nov. 12 were never clearly spelled out, though the order said the Justice Department could take “any steps necessary” to enforce the sale.


Thoughtexchange closes additional $4 million, bringing Series B round to $34 million (BETAKIT)

BC-based crowdsourcing software startup Thoughtexchange has closed an additional $4 million in new Series B financing.


Biden promised to reclassify gig workers. But how will he actually do it? (VICE)

Biden has outlined a plan for ensuring workers on gig economy apps receive employee-rights and benefits — but the labor movement is under no illusions that his administration will easily deliver on those plans.


Construction tech startup Falkbuilt raises $14 million CAD Series A (BETAKIT)

Calgary-based construction tech startup Falkbuilt, has raised $14 million CAD in Series A financing.


Spotify to buy podcast ad company Megaphone for $235 million (CNBC)

Spotify said it has entered into an agreement to acquire Megaphone, which offers technology for podcast publishers and advertisers seeking targeted slots on podcasts.


SEDNA Systems raises $10 million for smart messaging platform (BETAKIT)

On a mission to streamline email, messaging, and data, SEDNA Systems has raised $10 million in Series A funding.


Airbnb said to delay IPO filing to distance it from election (BLOOMBERG)

Airbnb could still adjust its plans again, the people said. The timing isn’t an indication of market responses or regulatory hurdles.


BroadbandTV’s revenues reached new record in quarter leading up to IPO (BETAKIT)

This quarterly financial report is the first since on BroadbandTV since its parent company BBTV Holdings began trading on the Toronto Stock Exchange.


Europe charges Amazon with using dominance and data to squeeze rivals (REUTERS)

The European Commission has been investigating Amazon’s position as both a marketplace for merchants and a rival seller, while the firm also faces scrutiny in the United States over its alleged mistreatment of sellers, as well as its dual role.


Four startups share how they’ve adapted to remote work during COVID-19 (BETAKIT)

Leaders from Willful, Doxim, Soapbox, and Drop provide their perspective on the new ways of working for Canadian tech – remote, in-office, and hybrid.


Zoom has settled with the FTC over ‘deceptive’ security practices (THE VERGE)

A Zoom spokesperson said in a statement emailed to The Verge that the security of its users is a top priority and that it had already addressed the issues in the FTC complaint.


How Bridgit’s co-founders tapped into a market ignored by tech (BETAKIT)

Bridgit COO Lauren Lake shares more about Bridgit’s founding story and how the company discovered its niche on the #CIBCInnovationEconomy podcast.



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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.