S|W: The SaaS Weekly – Meet the new CEO

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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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Ada secures $130 million USD, claims $1.2 billion valuation (BETAKIT)

The funding news comes just over a year after Ada raised a $63.7 million CAD Series B round – though the company had to lay off 36 employees in April 2020 amid pandemic-related uncertainty.

Grab’s huge SPAC merger heralds Asia’s next tech boom (WALL STREET JOURNAL)

The Southeast Asian ride-hailing and delivery app is going public in the U.S. at a $40 billion valuation and others look likely to follow suit.

Information Venture Partners closes third fund, raising $124 million CAD (BETAKIT)

Information VP also recently added former Georgian investor Jane Podbelskaya as principal and promoted Alex Tong from associate to principal.

Okta’s Auth0 deal closes: Inside the 8-year, $6.5 billion courtship (FORTUNE)

Since its founding in 2009, Okta has specialized in selling employee authentication services to businesses.

Following full exercise of over-allotment option, Thinkific IPO reaches $184 million (BETAKIT)

The Vancouver-based EdTech company recently closed its initial public offering at $160 million, issuing 12,310,000 subordinate voting shares at a price of $13 per share. CEO Greg Smith told BetaKit that he sees a “huge opportunity” in scaling.

How to better leverage SR&ED refunds to accelerate startup growth (BETAKIT)

Boast.AI’s Russ Armstrong explains how using Quarterly Advanced Refunds on SR&ED claims can dramatically accelerate startup growth.

Kahoot acquires Clever, the US-based EdTech portal, for up to $500M (TECHCRUNCH)

The plan will be to continue growing Clever’s business in the U.S. — which currently employs 175 people — as well as give it a lever for expanding globally alongside Kahoot’s wider stable of EdTech software and services.

Bonfire, Curiato, FutureVault among latest Canadian startups to make CEO change (BETAKIT)

The trio of companies is the latest of a number of Canadian innovation sector organizations that have notable leadership changes in recent months.

How startups can manage cashflow (BETAKIT)

Speaking with BetaKit, Xero Canada Country Manager Faye Pang shared her advice on how startups can properly set up their cash flow management.

Fluence Technologies raises $12.5 million CAD, swaps CEOs to fuel next phase of growth (BETAKIT)

The startup currently serves mid-market companies across North America and Europe, and aims to use some of the new funding to grow its customer base in Europe.

Inside the all-hands meeting that led to a third of Basecamp employees quitting (THE VERGE)

The company’s senior leadership wanted to quell employees’ concerns, and only made things much, much worse.

Thentia secures $10 million in Series B financing to ramp up US operations (BETAKIT)

Thentia plans to use the funding to bring its cloud licensing software to more US government agencies.

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.

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