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.

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Shopify cancels plans to host annual developer conference virtually(BETAKIT)

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

How SaaS startups should plan for a turbulent Q2(TECHCRUNCH)

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.

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

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(VENTUREBEAT)

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.

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

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(GEEKWIRE)

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

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

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.

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

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

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

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(PYMNTS)

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.

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

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(CRUNCHBASE)

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.

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

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

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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