S|W: The SaaS Weekly – Salesforce wants Traction on Demand

Kerry Bailey, Chief Executive Officer, eSentire.
Plus: Hopper continues acquisition spree with Parisian airline travel tech Smooss.

The SaaS Weekly is a weekly newsletter covering major SaaS news from Canada and around the globe.

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eSentire to be valued at $1.1 billion USD following $325 million deal (BETAKIT)

eSentire confirmed to BetaKit that Georgian and CDPQ are buying shares from Warburg Pincus, and once the deal closes the pair will collectively own 35 percent of eSentire.


Learn how Clearco moved from 80% tactical to 80% strategic work with the right automation tools

In this on-demand webinar, Clearco’s VP of Finance, Michael Munroe dives into his finance strategy and roadmap that enabled Clearco to grow by 8x in the last two years.

With Sage Intacct at the center of their tech stack, and integration into other critical systems, Clearco:

Saved over 2,500 hours of manual data entry for the finance team, freeing them up for more fulfilling strategic work;

Leveraged real-time SaaS dashboards and multi-dimensional reporting provide visibility into KPIs for instant insights and better forecasting; and

Helped reduce forecasting variances by over 75%.

Watch Now

With new $20B fund, Insight Partners has a stunning $90B in assets under management (TECHCRUNCH)

The fund marks the firm’s largest fundraise to date and very notably, its 350 employees, including 36 managing directors, represent the largest investment bloc in the fund.

Hopper continues acquisition spree with Parisian airline travel tech Smooss (BETAKIT)

“What the Smooss team has that we don’t have is they have a deep understanding of the passenger service system,” said Frederic Lalonde, CEO and co-founder of Hopper, in an interview with BetaKit.

Canadian tech firms with Ukraine offices struggling to get employees out of country as Russian forces advance (THE GLOBE AND MAIL)

Canadian tech firms with offices and employees in Ukraine are trying to help staff flee the country amid the intensifying Russian invasion, but efforts to get them access to Canada have so far largely gone nowhere. The war has had wide-ranging impacts on Ukraine’s tech ecosystem. Many commonly used products and technologies have Ukrainian roots. The country also houses a booming tech outsourcing sector that has been put at risk by the ongoing conflict.

Salesforce to acquire Traction on Demand (BETAKIT)

Burnaby-based Salesforce consulting firm Traction on Demand is set to become part of Salesforce Professional Services. Traction on Demand is far from the first Canadian startup Salesforce has acquired—the company has previously bought Mobify, Slack, and LevelJump.io.

BlueVoyant nabs $250M to help enterprises nab malicious hackers and stop security breaches (TECHCRUNCH)

BlueVoyant — which provides a mix of proprietary technology, third-party best-in-class cybersecurity tools and professional services — has raised $250 million. It wasn’t the only cybersecurity software company to close a major funding round this week, joining CHEQ and Beyond Identity.

RouteThis secures $25 million to take the headache out of home internet (BETAKIT)

RouteThis touts itself as the leading provider of in-home WiFi connectivity support solutions for internet service providers (ISPs) and smart home brands.

Dbt Labs CEO contemplates future IPO after raising $222M Series D (BIZJOURNALS)

The Philadelphia data analytics startup raised its Series D less than nine months after securing a $150 million Series C round last June.

Avanti Software secures $25 million to fully embrace cloud-only payroll and HR tech (BETAKIT)

“In Avanti, we saw an established business with a robust and diversified client base, serving over 15 different industries, [with] low, low churn, steady growth, that was undermanaged or had the potential to be managed to a place of higher growth,” Lalani told BetaKit in an interview.

Thinkific’s revenue, losses up in Q4 (BETAKIT)

Despite the growing losses, Greg Smith, Thinkific’s co-founder and CEO, maintained a positive outlook.

Happier with Zapier (TOP OF THE LYNE)

The product-led growth engine that powered Zapier’s growth from $0-$140M ARR and a $5B valuation with just $1.4M raised.

Operto raises $15.3 million CAD to help hosts manage short-term rentals, hotels (BETAKIT)

Founded in 2016, Operto provides property automation and IoT operating system software for the hotel, multi-family, vacation and short-term rental industries designed to manage the post-booking guest experience.

The hard truth about Truth Social (PLATFORMER)

Conservative alternative social networks keep making the same mistakes.

Busbud closes $14 million CAD, acquires Recorrido to fuel Latin American expansion (BETAKIT)

After adjusting its approach due to the pandemic, Montréal-based travel tech startup Busbud sees room to grow south of the equator. The Canadian firm has secured $14 million CAD in equity funding led by Wind Ventures, the corporate venture capital arm of Chilean energy firm COPEC, and acquired Chile-based intercity bus marketplace Recorrido to support its Latin American expansion plans.

Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache.

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