S|W: The SaaS Weekly – No safe haven

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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!

While venture funding stays consistent, BC startup deal count sees Q1 decline (BETAKIT)

Venture funding in British Columbia reached $246 million over 50 deals in the first quarter of 2020, according to Hockeystick’s latest ecosystem report.

Yotpo raises $75M for its e-commerce marketing cloud (TECHCRUNCH)

It brings the total raised by the startup to $176 million, and while it’s not disclosing valuation, its CEO Tomer Tagrin — who co-founded the company with COO Omri Cohen — describes it as “nearly a unicorn.”

Open Text profit falls on US$76-million restructuring charge (THE GLOBE AND MAIL)

The Waterloo, Ont., enterprise software company has merged new acquisitions into its business and begun closing half its offices.

Lightspeed shows strong growth YoY, but revenues flat after COVID-19 quarter (BETAKIT)

The startup’s total revenue grew to $36.2 million in Q1 2021, a 51 percent increase year-over-year.

Why SaaS businesses are in a unique position to survive this crisis (ENTREPRENEUR)

But to say SaaS is currently a safe haven would be an exaggeration.

Instagram launches TikTok copycat, which it is calling Reels (CBC)

Instagram owner Facebook has a long history of rolling out clones of other popular services.

Platterz raises $43.8 million CAD Series B, rebrands to Thriver as company pivots post-pandemic (BETAKIT)

Corporate catering startup Platterz has raised a $43.8 million CAD Series B round, rebranding as workplace culture platform Thriver.

Twitter, TikTok have held preliminary talks about possible combination (WSJ)

It is unclear whether Twitter will pursue a deal with TikTok, which would face significant challenges. A deal would involve TikTok’s U.S. operations, the people said.

More than 20GB of Intel source code and proprietary data dumped online (ARS TECHNICA)

“Exconfidential Lake” leak includes docs Intel provided under NDA as recently as May.

TouchBistro acquires TableUp to launch new loyalty solution for restaurants (BETAKIT)

Toronto-based TouchBistro has acquired TableUp, a Boston-based startup that provides loyalty and marketing solutions for the restaurant industry.

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.

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