S|W: The SaaS Weekly – ResQ to the rescue

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!


Q4 Inc. pauses plans for $150 million public offering on Toronto Stock Exchange (BETAKIT)

As first reported by The Globe and Mail, the decision followed a planned debut on the TSX, through which Q4 hoped to raise $150 million CAD.


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Transmit Security becomes cyber’s latest unicorn after $543M Series A (CRUNCHBASE)

Israel-based Transmit Security hit a pre-money valuation of $2.3 billion after raising a $543 million Series A.


Naver merges Wattpad, Webtoon studio divisions, invests $100 million USD (BETAKIT)

Naver acquired Wattpad earlier this year for $754 million CAD.


BetaKit Live: Canada’s FinTech Unicorns on June 29th (BETAKIT)

On Tuesday, June 29th at 4:15PM EDT, BetaKit will be joined by two Canadian tech CEOs of unicorn companies making moves in the FinTech space: Wealthsimple’s Michael Katchen and Clearco’s Michele Romanow (exclusive to BetaKit Patreon supporters).


Amazon’s planned purchase of MGM faces FTC scrutiny (WALL STREET JOURNAL)

During recent interagency negotiations, the FTC secured the right to review the Amazon-MGM deal, the people familiar with the matter said.


IBM to open new Toronto office, hire 500 across Greater Toronto Area (BETAKIT)

IBM said the transition to a single hub was “accelerated over the past year when virtual work environments became commonplace.”


What Confluent’s IPO signals about the rise of real-time analytics (PROTOCOL)

The successful public offering, which followed Snowflake’s monster IPO last year, is yet another signal that data is the new foundation for enterprises.


SoleSavy secures $15.5 million CAD to help sneakerheads combat sneaker-buying bots (BETAKIT)

Jeff Lewis of Bedrock and Jason Calcanis are set to join the firm’s board of directors as part of the round, which brings SoleSavy’s total funding to date to around $18 million CAD ($14.5 million USD).


Empowering the future hybrid work model, Lucid closes on more than $500 million in secondary investment, triples valuation to $3 billion (FORBES)

Karl Sun, CEO and co-founder of Lucid, wants to make sure that every team member is on the same page, figuratively and literally.


ResQ announces December $9.75M CAD fundraise to help restaurants meet “pent-up demand” during COVID reopening (BETAKIT)

When the pandemic hit, ResQ also launched a community-led initiative designed to help the service industry deliver meals to frontline workers and COVID-19 patients.


Didi sets valuation target of $62 billion to $67 billion in IPO (WALL STREET JOURNAL)

The fully diluted valuation, which typically includes restricted stock units, could eclipse $70 billion, people familiar with the matter told The Wall Street Journal.


Joyride secures $4.6 million CAD to help launch bike and scooter-sharing businesses (BETAKIT)

In January, Joyride received $282,000 in provincial and industry contributions to build its electric scooter docking integration system, which Cifani said it launched earlier this year.


Zero trust unicorn Illumio closes $225M Series F led by Thoma Bravo (TECHCRUNCH)

The round lands more than two years after Illumio’s Series E funding round in which it raised $65 million and fueled speculation of an impending IPO.


Following TSX IPO, VerticalScope acquires Paddling.com (BETAKIT)

Earlier this month, VerticalScope went public on the Toronto Stock Exchange (TSX), securing $125 million CAD in gross proceeds to fuel its acquisition efforts.



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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.