S|W: The SaaS Weekly – From piggyback to unicorn

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!


How Ada piggybacked Zoom and Shopify’s growth during the pandemic to become a Canadian unicorn (BETAKIT)

Earlier this month, Ada announced a $130 million USD Series C round that brought its valuation to $1.2 billion.


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The pandemic effect: IPOs the new path for Canadian tech firms

The Canadian tech ecosystem is thriving in Canada. COVID-19, or the “pandemic effect” has resulted in emerging tech companies in Canada eyeing the public market more than ever for growth. This has led to a tech IPO boom early in 2021, with likely more to come.

READ MORE


Klaviyo’s next-gen email marketing platform engorges on $320M at a $9.5B valuation (TECHCRUNCH)

Klaviyo is not as much of a household name right now, but it is absolutely on its way to the paramount of the next-generation of email marketing startups.


Vancouver-based Dooly raises $80 million USD Series B round (BETAKIT)

News of the raise comes two months after Dooly announced $20.3 million in funding, which consisted of a 2020 seed round and Series A round.


Canadian tech is having a moment. How best to seize it? (BETAKIT)

Anyone paying attention to the Canadian tech ecosystem will know something special is happening. So what comes next? BetaKit Patrons can register for the first monthly BetaKit Live on May 27 to see the full discussion.


TheScore is leaning on its legacy and its technology to break into the sports betting world (THE GLOBE AND MAIL)

Underdog sports app TheScore is betting on its legacy and technology to help break into sports wagering.


Procore, cloud software maker for construction industry, reaches $11 billion market cap as shares jump in IPO (FORBES)

Founded in 2002, Procore had taken a long path to IPO. But it would have to wait longer yet, as the COVID-19 pandemic had other plans.


GTX re-brands to Vosker following 4X revenue increase for remote monitoring tech (BETAKIT)

Across four brands, GTX has surpassed 360 employees and increased its revenue by 316 percent in the last few years, from $30 million two years ago to $125 million in 2020.


Workrise, once known as RigUp, raises $300M at a $2.9B valuation (TECHCRUNCH)

The company changed its name earlier this year to reflect a new emphasis on industries other than just oil and gas after the industry took a beating in recent years.


7 things startups should know about selling to banks (BETAKIT)

CIBC’s Paul McKinlay, Keith Gordon, Bank of America’s Tom Mildenhall, and Sensibill’s Corey Gross share tips for startups selling to banks.


With its platform now on the market, Odaia bets on pharma (BETAKIT)

Philip Poulidis, CEO and co-founder of Odaia, told BetaKit the startup was initially looking at multiple industry segments where it could apply its technology.


Founder of TikTok’s parent company will step down as CEO (NEW YORK TIMES)

Zhang Yiming steered ByteDance to become China’s first truly globally successful internet company.


Right-wing favoured video platform Rumble secures investment from JD Vance, Peter Thiel (BETAKIT)

According to The Wall Street Journal, which was first to report the funding, the investment values Rumble at around $500 million USD.


Epic Games vs. Apple trial prepares for closing arguments (WALL STREET JOURNAL)

During the three-week trial, Epic has argued Apple is improperly blocking third-party app stores on its mobile devices and forcing developers to use its in-app payment system for all digital transactions, allowing it to collect a commission as high as 30%.


LumiQ pivots to podcasts, raises $1.1 million (BETAKIT)

At the end of March, LumiQ closed $1.1 million CAD in funding through a convertible note from a group of new and existing angel investors.



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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.