S|W: The SaaS Weekly – Is social media a national security risk?

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!


BROUGHT TO YOU BY SAGE INTACCT:


Bridgit closes $9.4 million CAD strategic investment led by Autodesk (BETAKIT)

Kitchener-Waterloo-based Bridgit, a project management platform for construction businesses, has raised $9.4 million CAD in funding.


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Legal clouds gather over US cloud services, after CJEU ruling (TECHCRUNCH)

Europe’s lead data protection regulator has fired its own warning shot at the region’s data protection authorities (DPAs), essentially telling them to get on and do the job of intervening to stop people’s data flowing to third countries where it’s at risk.


Foodee secures $13 million to weather COVID-19, fuel acquisition of US competitor Chewse (BETAKIT)

Foodee, a cater-tech startup that serves offices and works with local restaurants, has closed $13 million CAD in funding and revealed its acquisition of Chewse.


Netflix adds another whopping 10 million subscribers, but warns growth may slow (THE VERGE)

Netflix is still growing as people continue to shelter in place around the country, but the company is now seeing the slowed subscriber growth executives predicted would arrive three months ago.


Swyft raises $3 million CAD to expand same-day delivery software (BETAKIT)

Toronto-based digital logistics startup Swyft, which connects merchants to existing courier networks, has closed a $3 million CAD seed round.


FBI investigates Twitter hack amid broader concerns about platform’s security (WALL STREET JOURNAL)

The Federal Bureau of Investigation launched a probe into the widespread hack of Twitter Inc. that occurred Wednesday, amid growing concerns that the vulnerability of the company’s systems could pose broader risks to international security.


Drivewyze, Intelligent Imaging Systems raise $81.7 million CAD from Sageview Capital (BETAKIT)

Edmonton-based Intelligent Imaging Systems (IIS) and its subsidiary, Drivewyze, have closed $81.7 million CAD ($60 million USD) financing.


Does TikTok really pose a risk to US national security? (WIRED)

Concerns about the Chinese government shouldn’t be dismissed, experts say. But banning TikTok would be a drastic measure.


Willful raises $800,000 to help grow digital estate planning business (BETAKIT)

Willful, which provides online will and estate planning, has raised $800,000 in seed financing.


Uber acquires Routematch to make public transport ‘more accessible’ (VENTUREBEAT)

By bringing Routematch into the fold, Uber is advancing its long-stated mission of making “individual car ownership a thing of the past” and helping cities provide “more accessible public transportation.”


Three Ottawa tech companies receive over $11 million from FedDev Ontario (BETAKIT)

Through FedDev Ontario, the Government of Canada has invested nearly $11.2 million CAD in a trio of Ottawa-based software firms: Solace, You.i TV, and Lytica.


The dimming of GE’s bold digital dreams (WALL STREET JOURNAL)

The industrial giant hoped to remake itself as a software powerhouse. Here’s what went wrong.


Vancouver’s Aquatic Informatics acquired by Danaher’s Water Quality Platform (BETAKIT)

Water data management and analytics startup Aquatics Informatics has been acquired by global science and tech conglomerate Danaher, joining its water portfolio.



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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.