S|W: The SaaS Weekly – Does Citrix + Tibco = SaaS powerhouse?

Plus: 6 reasons Meta is in trouble.

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

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RenoRun closes $181 million CAD Series B to fuel Canada, US expansion (BETAKIT)

In an interview with BetaKit, RenoRun co-founder and CEO Eamonn O’Rourke spoke about where the startup fits into the building materials market, and the opportunity to take the “back office-running of a construction project off of the contractor’s hands” through a platform that includes a FinTech product.


How Clearco Built a Tech Stack to Support Strategic Growth

Hear from Clearco’s VP of Finance, Mike Munroe, in a live webinar as he walks through Clearco’s automation journey and why the right financial systems were critical to its continued growth – saving the team over 2,500 hours and reducing revenue variance by 75%.

In two years, Clearco saw:
-10x increase in transaction volume;
-8x revenue growth;
-6x increase in company value.

The Answer Company’s President, Shawn Ostheimer, and David Appel, Head of SaaS at Sage Intacct, will also be present to cover what exactly your finance team can accomplish with Sage Intacct’s powerful automation and insights.

Register now!

Citrix to be acquired by Vista and Evergreen/Elliott in a $16.5B all-cash deal, will be merged with Tibco to create SaaS powerhouse (TECHCRUNCH)

Citrix, the long-in-the-tooth virtualization giant that had been making a slow transition into cloud computing, is being acquired by PE firms Vista Equity Partners and Evergreen Coast Capital (an affiliate of Elliott Investment Management) for $16.5 billion.

Hopper now valued at $5 billion after $35 million secondary deal (BETAKIT)

Montréal-based travel booking startup Hopper has a new $5 billion USD valuation after a $35 million secondary sale that allowed Hopper employees and some shareholders to sell part of their holdings in the company. The new valuation comes less than six months after Hopper raised $175 million in Series G financing at a $3.5 billion valuation.

LeddarTech scores $140 million USD in Series D funding and debt (BETAKIT)

The Canadian firm also plans to use this funding to bolster its engineering capabilities as it looks to meet demand from global original equipment manufacturers (OEMs) and automotive customers.

6 reasons Meta is in trouble (NEW YORK TIMES)

The company formerly known as Facebook has hit major turbulence as it suffered its biggest one-day wipeout ever.

Vosker receives $60 million CAD investment from GardaWorld founder (BETAKIT)

Vosker is not disclosing the other investors who participated in what the startup characterized as a Series A round. The round closed in the beginning of December 2021.

Universities have a role to play in addressing BC’s tech talent crunch: report (BETAKIT)

The report, released last week by University Canada West, gathered opinions and insights from industry participants on how academia and industry can collaborate to fill the current gaps in BC’s workforce.

Sony buying Bungie for $3.6 billion (GAMESINDUSTRY.BIZ)

Sony has announced a deal to acquire Bungie for $3.6 billion USD, the latest in a string of big-ticket video game industry consolidation moves. The Sony-Bungie deal is part of “an escalating arms race” by gameS industry leaders to outspend the competition for studios, franchises and players’ time.

Data monetization platform TickSmith raises $20 million CAD Series A (BETAKIT)

“Selling data should be as simple as selling products in an e-commerce store.”

Silicon Valley unicorn Productboard eyes Vancouver, Toronto for expansion (BETAKIT)

While the startup hasn’t publicly announced a Toronto office, Productboard’s senior communications manager, Neha Jewalikar, told BetaKit the startup currently has 28 people in the Ontario city.

Spotify CEO defends Joe Rogan deal in tense company town hall (THE VERGE)

Employees shared last week in an ongoing thread that their friends and family came to them with questions about why Spotify supported a podcaster who continued to spread COVID misinformation and bring on controversial guests, while the broader backlash made them feel embarrassed to work at the company, according to two sources.

Proptech startup VendorPM raises $6 million in Bessemer-led seed round (BETAKIT)

The proptech startup said its technology supports over 400 building services across maintenance, operations, capital expenditures, and professional services.

Why BBTV’s stock spiral doesn’t tell the whole story (VANCOUVER TECH JOURNAL)

Founder Shahrzad Rafati walks us through why she’s confident despite a steady decline on the TSX.

Newly TSXV-listed Pluribus Technologies acquires Kesson Group, Social5 (BETAKIT)

Software startup acquiror Pluribus Technologies has closed its acquisition of e-learning tech company Kesson Group for $10 million in cash and $320,000 in shares. For Pluribus, the acquisition follows its TSXV debut earlier this month.

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. He was also the winner of SABEW Canada’s 2023 Jeff Sanford Best Young Journalist award.

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