Hootsuite restructuring, laying off 30 percent of employees
CEO: “We need to refocus our strategies to drive efficiency, growth and financial sustainability.”
SaaS
Bootstrapped since 2008, Evidence Partners closes $20 million to tackle automated literature review market
Evidence Partners caters to more than 60% of the world’s largest pharma, medical device companies.
S|W: The SaaS Weekly – Inside this week’s massive BC tech exit
Plus: Layoffs across SaaS startups pile up.
Uberflip CEO attributes company layoffs to “unsteady economy”
Uberflip laid off 31 employees.
RenoRun lays off 12 percent of staff, pauses geographic expansion amid uncertainty surrounding consumer spending
CEO: “There’s just a level of uncertainty right across the board.”
Nubik becomes latest Canadian tech firm acquired by Deloitte
Nubik specializes in Salesforce, FinancialForce, and Rootstock Cloud ERP.
Unbounce lays off 20 percent of staff as part of “larger company restructuring”
Unbounce CEO said cuts were necessary to support the company’s purpose and strategy.
FreshBooks secures $100 million USD debt facility from BMO, J.P. Morgan
With fresh funds, FreshBooks wants to continue global expansion, strategic acquisitions.
S|W: The SaaS Weekly – Microsoft stays rosy, Meta drops
Plus: Ex-Tungle, Foko employees pivot new startup to take on Evernote.
Canalyst acquired by Chicago-based Tegus in massive BC tech exit
Sources say deal is north of $400 million CAD.
Partnership with Mailchimp competitor Klaviyo marks Shopify’s second strategic investment in recent weeks
Recent SEC filing indicates Shopify may have invested $100 million USD in Klaviyo.
Wattpad’s new leader is focused on creator value
Wattpad President Jeanne Lam wants to help creators “become the next big hit.”
Converge Technology secures $500 million loan to continue acquisition spree
Converge to continue acquisition strategy in North America, Europe.
Advertising tech startup Polar secures funding from Fort Point Capital, rebrands to Nova
Nova president: Polar pioneered the social display space.
Four Canadian companies selected for inaugural CB Insights Advanced Manufacturing 50 list
BenchSci, Vention among Canadian startups in the list.