S|W: The SaaS Weekly – Thrown for a loop


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

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Facedrive looks to acquire Foodora Canada assets as it launches food delivery service (BETAKIT)

Facedrive has signed a binding term sheet that could see the ridesharing startup purchase certain assets of food delivery company Foodora.


[Live webcast] Growing a SaaS Company in a Shifting Landscape

The decisions a Finance Leader at a SaaS company must make haven’t changed, but how they decide and with what resources has become more complex. Tracking cash, churn, and DSO is critical to understanding your runway today. Then, forecasting how to bounce back and where to invest is the next of many growth opportunities to consider.

Join Bruce Croxon, partner at Round13 Capital and co-host of BNN’s, The Disruptors, and Matt Hodgson, CFO at Vidyard, as they address the challenges and opportunities of a shifting landscape in the SaaS industry.

Are stable SaaS valuations driven by logic or hope? (TECHCRUNCH)

The answer concerning why the stock market is holding up in the face of a rapidly deteriorating economy isn’t singular.

Nudge.AI co-founder Steven Woods joins Benevity as chief technology officer (BETAKIT)

Benevity has announced that Steven Woods will be joining the executive team as chief technology officer.

SaaS startup SirionLabs raises $44 mln from Tiger Global, Avatar Growth Capital (LIVEMINT)

With this round, the total funding raised by SirionLabs’ stands at $66 million till date, with earlier rounds led by Sequoia Capital India.

Wattpad creates fund to develop TV, film projects in latest attempt to “verticalize” business (BETAKIT)

Wattpad is launching two film projects that are part of a new fund aimed to finance the early development of select TV and film projects from Wattpad writers.

Textile and apparel-focussed SaaS firm VastraApp raises seed funding (VC CIRCLE)

VastraApp, set up in 2018 by Vikash Rajpurohit, says it brings together all relevant data for textile and apparel manufacturers on to a single platform.

Ritual, City of Toronto partner to provide free ordering tool to local foodservice businesses (BETAKIT)

The City of Toronto is partnering with food ordering and pickup app Ritual to offer local businesses a tool that helps them accept digital orders online.

Distributed database startup MemSQL raises $50M in debt financing (SILICON ANGLE)

Founded in 2011, MemSQL offers what it calls a No-Limits Database designed to power modern applications with a cloud-native scalable architecture.

Loopio lays off 11 staff as it sees increased “scrutiny” from buyers during pandemic (BETAKIT)

Toronto-based Loopio has permanently laid off 11 members of its staff, which represents eight percent of the company.

DigitalOcean raises $50M more from Access Industries and a16z (TECHCRUNCH)

The capital comes after the SMB and developer-focused cloud infrastructure company raised nine-figures worth of debt back in February.

Ontario to deploy Kitchener startup’s remote learning platform across school districts (BETAKIT)

Knowledgehook has partnered with the Ontario Ministry of Education and to deploy its newly-launched remote learning platform across the province.

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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