S|W: The SaaS Weekly – IPO for Christmas

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

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Hootsuite plans to IPO before Christmas, raise $200 million on TSX (BETAKIT)

BetaKit has learned that Hootsuite is finalizing its preparations to go public on the Toronto Stock Exchange before the end of the year. Sources told BetaKit Hootsuite is looking to raise $200 million CAD capital through an IPO to make additional acquisitions in the social commerce and customer care space.


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Q4 Inc. CEO downplays IPO concerns after going public, sets sights on M&A to fuel growth (BETAKIT)

Despite downsizing its offering and experiencing an underwhelming Toronto Stock Exchange debut, Q4 Inc. is not deterred. In an interview with BetaKit, Q4’s founder and CEO Darrell Heaps spoke about how the investor relations software firm got here, and why he isn’t concerned about the size of the IPO or the company’s opening day share price.


Facebook changes company name to Meta in focus on metaverse (WALL STREET JOURNAL)

Facebook Inc. Chief Executive Officer Mark Zuckerberg said the company changed its name to Meta to reflect growth opportunities beyond its namesake social-media platform in online digital realms known as the metaverse.


D2L cuts size, pricing of TSX IPO (BETAKIT)

Kitchener-Waterloo-based edtech firm D2L, which first filed to go public on the Toronto Stock Exchange earlier this month, has cut the size and pricing of its IPO, becoming the second Canadian tech firm to do so in the past week, after Q4 Inc.


Fellow.app’s meeting productivity software attracts $24 million (BETAKIT)

The round was led by Silicon Valley venture capital firm Craft Ventures, a new investor for Fellow.app but one that was created by VCs that boast portfolios that include Facebook, Twitter, Airbnb, Twilio, Cloud9, and Hootsuite.


BetaKit Live: The State of Canadian Startups on November 3rd (BETAKIT)

BetaKit has teamed up with Cisco Designed for a live-streamed conversation with Canadian tech and business leaders, taking place Wednesday, November 3 at 3:30 pm EST.


‘AWS for blockchain’ Alchemy boosts valuation to $3.5B with $250M raise (TECHCRUNCH)

Exactly six months after raising $80 million at a $505 million valuation, blockchain and Web3 development SaaS startup Alchemy has raised $250 million in a Series C funding round that values the company at $3.5 billion.


CalendarHero parlays successful pivot into potent acquisition by Vendasta (BETAKIT)

Responding to a comment that the acquisition must be welcome news, Roy Pereira, founder of CalenderHero, said: “Better than I could expect, I must say.”


Microsoft acquires BC-based Two Hat to moderate Xbox content (BETAKIT)

Two Hat has partnered with Xbox and the Microsoft team for several years. According to Microsoft, Two Hat’s tech has helped improve the safety of its global communities on Xbox, Minecraft, and MSN.


Bridgit secures $24 million in funding; announces new C-suite hires (BETAKIT)

According to the company, its new capital will be used for building out its team, furthering its product development activities, and “laying the groundwork for increasing market share.”


Neo Financial’s Series B leads Calgary’s venture funding bounce back in Q3 (BETAKIT)

Following a poor Q2 for tech investment, Calgary bounced back in the third quarter. Elsewhere, Toronto startups broke venture funding records again, Montréal and British Columbia continued to see strong results, and Waterloo Region saw deal volume hit a two-year low.


Clio expands into VC, FinTech with payments product, investment fund (BETAKIT)

Legaltech startup Clio has announced the launch of Clio Payments and a new fund, as the Burnaby-based unicorn joins a growing herd of companies spicing up their SaaS offerings with a pinch of FinTech.


Felicia Bochicchio named CEO of Unbounce; Rick Perreault becomes board chair (BETAKIT)

“I have a new outlook on life,” Perreault told BetaKit. “I always say Unbounce is my baby, but these two kids are everything to me,” he said, referring to his two young sons.


Breather co-founder secures $12.4 million CAD for new coaching software startup (BETAKIT)

Smith said Practice is starting with coaches, and plans to “move on to other similar groups from there.”



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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.