S|W: The SaaS Weekly – Microsoft’s Open(Text) relationship

OpenText building

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

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OpenText to acquire Zix in $860 million deal meant to bolster Microsoft relationship (BETAKIT)

With the deal, OpenText aims to establish a “powerhouse SMB platform” for security and compliance.


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Workato storms to a $5.7B valuation after raising $200M for its enterprise automation platform (TECHCRUNCH)

Workato said that it plans to use the funding to continue investing in its platform, and to make acquisitions, ahead of eyeing up an IPO down the road.

Clio doubles C-Suite with four new execs to support product, international expansion (BETAKIT)

In an interview with BetaKit, Clio co-founder and CEO Jack Newton said these personnel moves are about positioning the legaltech company—which just recently surpassed 750 employees—for its next stage of its growth.

Bootstrapped Ataccama hungry to win global data management market (BETAKIT)

“The pandemic has really opened the eyes of a lot of CEOs about the importance of having a sustainable digital transformation initiative.”

‘It’s disgusting’: Legal professionals outraged as Dye & Durham sharply hikes prices for critical software (THE GLOBE AND MAIL)

It was a familiar move for D&D, which has made a string of acquisitions in the legal software space and, now facing little competition, has subsequently raised prices drastically. But the reaction was still swift and sharp in B.C.

Patrick Pichette joins Neo4j’s board as Inovia leads startup’s $66 million USD Series F extension (BETAKIT)

Inovia Capital partner Patrick Pichette is joining Neo4j’s board of directors after Inovia led a $66 million USD extension to the database company’s Series F round.

Knak nabs $31 million CAD to market its drag-and-drop, no code platform (BETAKIT)

Insight’s investment in Knak took the form of venture capital, and the company declined to share whether Insight has taken a majority ownership stake in Knak.

Ottawa-founded Threekit raises $43.6 million CAD to bolster product visualization tech (BETAKIT)

Two American software startups with Canadian roots recently raised fresh funding to fuel their growth. Threekit, which was founded in Ottawa but is currently headquartered in Chicago, secured $43.6 million CAD, while Oakland-based Mimik Technology, which has a heavy presence in Canada, nabbed $17.9 million.

These Toronto entrepreneurs accidentally helped Facebook’s rebrand to Meta (THE GLOBE AND MAIL)

When Facebook Inc. began rebranding itself as Meta Platforms Inc. last month in a bid to build a market for immersive online worlds, the company had some Toronto entrepreneurs to thank for a smooth transition.

Sports and live audience engagement startup StellarAlgo secures $16.5 million Series A (BETAKIT)

The startup’s Series A round, which closed in October and consisted primarily of equity capital, included $3.5 million in debt from RBCx and $1 million in secondary funding.

HugOps: how to get developer and security teams working together (BETAKIT)

Cybersecurity leaders from Microsoft Canada, GitHub, and Ammolite Analytx join a recent BetaKit Live panel to discuss what’s causing the disconnect between developers and security.

SAAS NORTH launches award in tribute to prolific tech investor Greg Smith (BETAKIT)

Smith was a long-time member and investor in the Canadian innovation community, and played a key role in the creation of SAAS NORTH.

VerticalScope, Q4 Inc., Magnet Forensics, Thinkific, and Copperleaf report solid Q3 results (BETAKIT)

Five Canadian software companies reported their third-quarter 2021 financial results this week, including VerticalScope, Q4 Inc, Magnet Forensics, Thinkific, and Copperleaf.

Enso Connect secures $2 million CAD to tackle short-term rental market (BETAKIT)

In an interview with BetaKit, Enso Connect’s co-founder and CEO Francois Gouelo said the startup plans to use the fresh funding to add more integrations and support the rollout of a new customer relationship management (CRM) component.

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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