S|W: The SaaS Weekly – Remote work, record growth

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!


BROUGHT TO YOU BY SAGE INTACCT:


Slack reports record customer growth as global workforces go remote (BETAKIT)

Vancouver-founded communications software company Slack has reported its financial results for the first quarter of the fiscal year ending 2021.


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SaaS earnings rise as pandemic pushes companies more rapidly to the cloud (TECHCRUNCH)

SaaS companies have always been focused on allowing work from anywhere there’s access to a computer and internet connection, and while the economy is reeling from COVID-19 fallout, modern software companies are thriving.


Poka closes $6.4 million CAD for connected factory worker platform (BETAKIT)

Poka, a Quebec City-based startup that has developed a “connected workforce” app, has closed $6.4 million CAD.


Cube Wealth raises mid-series funding, launches SaaS solution for fund managers (LIVEMINT)

Cube Wealth has also launched a new cross-border SaaS service and marketplace called Cube Cloud to help fund managers in India and South East Asia track capital from investors across 50 countries.


Montreal’s Vention raises $38 million CAD Series B (BETAKIT)

Vention, a manufacturing automation tech startup, has raised $38 million CAD in Series B financing.


Appway raises $37M in growth funding (FINSMES)

This deal represents Appway’s first external capital raise. It will enable the company to further expand its product portfolio and accelerate international growth in core markets around the world, including Europe, the APAC region and focusing on North America.


Ritual reportedly raises $29.8 million CAD following COVID-19 layoffs (BETAKIT)

Toronto-based food ordering and mobile pickup startup Ritual has reportedly raised $29.8 million CAD ($22 million USD) from existing investors.


Zoom and CrowdStrike hang onto 2020 gains despite huge earnings expectations (TECHCRUNCH)

Working from home means that many companies needed new, better video conferencing abilities and more security tooling, the two things that Zoom and CrowdStrike provide.


Tugboat Logic closes $10.8 million CAD led by Inovia Capital (BETAKIT)

Tugboat Logic, which provides automated tech for the security assurance market, has raised a $10.8 million CAD ($8 million USD) funding round.


New York startup Hyperscience raises $60 million in bid to become automation software’s next breakout (FORBES)

The company announced on Thursday that it raised $60 million in a Series C funding round led by Bessemer Venture Partners. Hyperscience didn’t disclose its valuation, but the investment likely values the startup at more than $250 million.


How tech can help during COVID-19, from a doctor who runs a startup (BETAKIT)

As part of BetaKit and DMZ’s ‘Startup Growth Series,’ Dr. Vipan Nikore of Homecare Hub shares how he’s building his company in the wake of 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.