S|W: The SaaS Weekly – Don’t believe the hype

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

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GoFor Industries raises $20 million Series A for last-mile delivery solution (BETAKIT)

Ottawa-based startup GoFor Industries has raised a $20 million CAD Series A round to further its expansion into the United States.


Why San Francisco-based VC Hustle Fund Is Betting Big on Canada

“At Hustle Fund, we’re convinced that Canada is positioned well to produce some of the largest, category-defining companies on the planet. We’re eager to fund these companies, and excited to partner with Hockeystick to identify these opportunities!” – Eric Bahn (General Partner)

Since launch, Hockeystick has made over 6000 funder recommendations to Canadian startups. Learn how startups are using technology to meet funders around the world.

Ottawa’s You.i TV sold to U.S. media giant WarnerMedia for more than US$100-million (THE GLOBE AND MAIL)

The deal is set to be announced publicly within days, a source familiar with the matter told The Globe and Mail.

Cyberpunk 2077 was supposed to be the biggest video game of the year (NEW YORK TIMES)

Nearly a decade of hype led to a troubled release riddled with glitches, a livid fan base, refunds for potentially millions of players and a possible class-action lawsuit.

All signs point to Montréal as home of Sonder’s second headquarters (BETAKIT)

Last week, Sonder announced it had reached a deal with the Québec government to open a “hub office” in Montréal. BetaKit told you it would happen in October.

More states hit Google over alleged monopoly conduct (WALL STREET JOURNAL)

“Consumers have better products and services when they’ve got choice in the marketplace, and they’ve been deprived,” said Democratic Colorado Attorney General Phil Weiser at a video-streamed news conference with other state attorneys general.

Czech startup founders turn billionaires without VC help (BLOOMBERG)

While investment funds in Silicon Valley have turned the owners of many unprofitable startups into billionaires overnight, the founders of JetBrains s.r.o. have managed the feat without the help of venture capital.

AutoLeap raises $8 million to tackle local auto repair industry (BETAKIT)

Toronto-based startup AutoLeap has closed an $8 million CAD seed round, comprising $6.4 million in equity and $1.6 million in venture debt.

FTC orders Amazon, Facebook and others to explain how they collect and use personal data (CNBC)

Amazon, TikTok owner ByteDance, Discord, Facebook and its subsidiary WhatsApp, Reddit, Snap, Twitter and Google-owned YouTube were each sent orders to hand over information about their data practices.

Bumble reportedly files confidentially for IPO (CRUNCHBASE)

The company reportedly plans to go public in February, possibly around Valentine’s Day, and could aim for a valuation between $6 billion and $8 billion, according to the report.

Discord raises $100 million as its social hub hits 140 million users (VENTUREBEAT)

Greenoaks Capital led the funding, and it comes after Discord previously raised $100 million in June as it tries to reach a broader set of communities.

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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