S|W: The SaaS Weekly – Preparing for a turbulent Q2

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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!


BetaKit

Shopify cancels plans to host annual developer conference virtually

Shopify has officially cancelled its annual developer conference, Unite, after initially looking to host a virtual event amid COVID-19.


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TechCrunch

How SaaS startups should plan for a turbulent Q2

In Murphy’s view, Q1 startup results are likely to come in a bit better than some expect considering the how the quarter finished from a macroeconomic perspective. Q2, however, is a different beast.


BetaKit

BDC launches matching investment program for Canadian VC-backed companies affected by COVID-19

A letter shared by the CVCA says BDC Capital has launched the Bridge Financing Program meant to support venture-backed companies with matching investments.


Data storage company Cohesity raises $250 million at a $2.5 billion valuation

This takes Cohesity’s total raised to more than $650 million, including its SoftBank-led $250 million series D round back in 2018, and gives it a valuation of $2.5 billion — more than double the figure at its previous valuation two years ago.


BetaKit

Canadian tech companies stepping up to help remote workers survive COVID-19

Here’s a look at Canadian startups looking to make life easier for remote workers during the COVID-19 pandemic.


Ray Ozzie’s latest project: Former Microsoft exec raises $11M for IoT startup Blues Wireless

Reached by phone, Ozzie confirmed that the startup has raised money from undisclosed investors, as revealed in an SEC filing March 26.


BetaKit

Banks open up applications for $40,000 interest-free emergency business loans

On Thursday, April 9, banks officially opened up applications for the $40,000 interest-free loan program introduced as a way to support small businesses.


TechCrunch

Utah’s Podium raises $125M Series C led by YC after reaching $100M ARR

The new capital values Podium at around $1.5 billion, and brings the company’s known capital raised to just under $218 million.


BetaKit

WorkJam raises $70.6 million CAD Series C for platform serving frontline workers

Montreal-based digital workplace solutions startup WorkJam has closed an oversubscribed $70.6 million CAD Series C round.


Corporate travel startup Huilianyi raises $42M amid industry turmoil

Huilianyi, a business travel platform, notched approximately $42 million in fundraising as China begins a possible economic renewal amid the global coronavirus pandemic, Phocuswire reported.


BetaKit

ResQ uses platform to help service industry deliver meals to frontline workers in Toronto

ResQ is raising donations to buy meals from its partner restaurants, and delivering them to deliver food to front line workers and patients facing COVID-19.


Silver Lake and Sixth Street Partners to invest $1B in Airbnb

The new funding from Silver Lake and Sixth Street Partners comes after the travel and hospitality industry has been hit hard by the COVID-19 pandemic.


BetaKit

Canadian Advanced Technology Alliance urges feds to release backlogged SR&ED funding

The Canadian Advanced Technology Alliance submitted a funding proposal to the federal government to preserve tech jobs and companies during COVID-19.



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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.