S|W: The SaaS Weekly – MT SAAS is coming for FAANG

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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!

Quantum Pigeon wants to change the social media game for content creators (BETAKIT)

The idea comes from the mind of Alex Clark, who has under his belt a $200 million CAD exit after the startup he co-founded, Bit Stew Systems, was bought by General Electric Co. in 2016.

Reddit is valued at more than $10 billion in latest funding round (NEW YORK TIMES)

Just six months ago it was valued at $6 billion. It raised $410 million in its latest round.

Dialogue, Thinkific, Mogo post mixed results in Q2 2021 (BETAKIT)

While reporting the company’s earnings, Thinkific noted that the COVID-19 pandemic has accelerated the shift to online learning.

Leaked document says Google fired dozens of employees for data misuse (VICE)

Some allegations potentially center around accessing Google user or employee data.

India’s Eruditus valued at $3.2 billion in $650 million fundraise (TECHCRUNCH)

Another Indian software company, Verse, also raised over $450 million last week.

Bessemer’s State of the Cloud report says MT SAAS is coming for FAANG (BETAKIT)

In a recent Sage Intacct webinar, Bessemer Venture Partners partner Mary D’Onofrio and investor Janelle Teng shared their insights on the state of cloud companies in 2021, and what that means for young SaaS startups.

Apple and Google seem spooked by bill requiring more app stores and sideloading (ARS TECHNICA)

The bill would make iOS and Android more open to 3rd-party stores and sideloaded apps.

Medimap raises $3.5 million to bring walk-in clinic wait time tech to more medical practices (BETAKIT)

After establishing itself as a platform to look up wait times and availability at walk-in medical clinics across Canada, Medimap sees room to grow by applying its tech and expertise to new healthcare verticals.

Ontario court certifies class action against Uber that could see some workers recognized as employees (CBC)

The law firm and the Ontario man’s class action argues that Uber couriers should be entitled to minimum wage, vacation pay and other protections because they meet the definition of employees under Ontario’s Employment Standards Act.

Magnet Forensics, Nuvei report revenue increases in second quarter 2021 (BETAKIT)

Despite the increase in revenues, Magnet’s income fell by 45 percent to $2 million CAD ($1.6 million USD), compared to the previous quarter.

Cybersecurity giants NortonLifeLock and Avast merge in $8.1B deal (TECHCRUNCH)

U.S. cybersecurity firm NortonLifeLock has confirmed it is acquiring British rival Avast in order to create a global consumer security powerhouse.

How virtual care in Canada will change post-pandemic (BETAKIT)

Leaders from MindBeacon, Esplanade Ventures, and TELUS Health MyCare join for a BetaKit Live panel conversation on the future of virtual care.

Cloud data backup and recovery platform OwnBackup raises $240M (VENTUREBEAT)

OwnBackup, a platform that provides data backup and recovery services for cloud software providers such as Salesforce, has raised $240 million in a series E round of funding at a $3.35 billion valuation.

theScore to be acquired by Penn National Gaming for $2 billion USD (BETAKIT)

The news follows theScore’s March initial public offering on the Nasdaq, through which it raised $186 million USD.

Apple executive defends tools to fight child porn, acknowledges privacy backlash (WALL STREET JOURNAL)

Craig Federighi says the new tools are aimed at best ensuring iPhone privacy while fighting illegal images.

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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