This Week In The SaaS Universe- Updates & Highlights With SpotSaaS Weekly Roundup
Table of Contents
Latest Funding News
Solarize raises €4.3 million
| Company Name | Solarize |
| About the company | Energy Solutions |
| Founder Name | Frederik Pfisterer |
| Fund raised | €4.3 million |
| Investors | Point Nine |
| How will the company use the money | To expand internationally while developing its SaaS platform and microgrid operating system. |
Drivetrain raises $15 million
| Company Name | Drivetrain |
| About the company | Finance Management |
| Founder Name | Alok Goel, Tarkeshwar Thakur, and Saurav Bhagat |
| Fund raised | $15 million |
| Investors | Elevation Capital, Jungle Ventures, and Venture Highway. |
| How will the company use the money | Towards developing the product as well as the sales market and content. |
Outmin raises €1.5 million to scale accounting solution
| Company Name | Outmin |
| About the company | Accountant Platform |
| Founder Name | Middlegame Ventures, Fuel Ventures, Kellysan Enterprises Ltd and more. |
| Fund raised | €1.5 million |
| Investors | Ross Hunt |
| How will the company use the money | To double in size and expand in the UK with new funds. |
Stability AI Raises $101M in Funding
| Company Name | Stability AI |
| About the company | Open-source artificial intelligence (AI) company |
| Founder Name | Emad Mostaque |
| Fund raised | $101M |
| Investors | Coatue, Lightspeed Venture Partners, and O’Shaughnessy Ventures. |
| How will the company use the money? | To accelerate the development of open AI models for image, language, audio, video, 3D, and more globally. |
Holidu Pockets $102m To Keep Growing Its Vacation Rentals Business In Europe
| Company Name | Holidu |
| About the company | Vacation Rental Startup |
| Founder Name | Johannes Siebers and Michael Siebers |
| Fund raised | €102 million |
| Investors | 83North |
| How will the company use the money | By expanding its rollout of local office locations to support its market outreach efforts. |
UK’s Capital on Tap bags €114.3M revolving credit facility to empower SMEs in UK, US
| Company Name | Capital on Tap |
| About the company | Credit card and spending management |
| Founder Name | David Luck |
| Fund raised | €114.3M |
| Investors | Atalaya Capital Management |
| How will the company use the money | To improve Capital on Tap’s developing product offering |
Mergers & Acquisitions
Dutch-based BCS HR Group acquires Tasper, MediSoft
With the assistance of software investor Main Capital Partners, the Dutch company BCS HR Group, which offers payroll and human resource management (HRM) software, has acquired Tasper and MediSoft, two other software firms based in the Netherlands.
The company wants to strengthen its position in the Benelux region’s market for human capital management through these acquisitions.
Red Sift Acquires Hardenize
Red Sift, a London, UK, and San Francisco, CA-based provider of a digital resilience platform, acquired Hardenize, a London, UK-based Attack Surface Management (ASM) company.
In order to offer a complete digital resilience solution, Red Sift will use the acquisition to expand, extend, and strengthen its current security products so that it can also secure customers’ online assets and infrastructure.
AB Tasty Acquires Epoq
AB Tasty, a Paris, France-based experience optimization company, acquired Epoq internet services GmbH, an Ettlingen, Germany-based AI-driven recommendation, and smart search solution provider.
Through recommendations and intelligent search, the acquisition intends to strengthen AB Tasty’s ability to power relevant and interesting consumer experiences.
Amenitiz buys France’s Ododo
VC-backed SaaS startup Amenitiz has acquired French travel tech firm Ododo. Barcelona-based Ododo is developing a one-stop shop for hoteliers, aiding them with taking payments and building an online presence.
Databricks Acquires Vancouver-Born Datajoy
Datajoy provides AI-powered revenue insights. Databricks, a company based in Silicon Valley, bought the startup to broaden its business-oriented all-in-one data platform.
Although Databricks indicated that Wong and the Datajoy team are joining its staff pool, the specifics of the deal were not made public.
SaaS News of the Week
Silverneedle Ventures launches Rs 100 Cr fund
An early-stage technology-focused venture capital business Silverneedle Ventures has announced the launch of a new fund with a $100 million investment. The Hyderabad-based VC firm plans to invest in 30 companies over the next 18 months.
With a focus on B2B SaaS, Deeptech, Sustainability, consumer internet, and direct-to-consumer companies, the fund plans to engage in pre-Series A and Series A rounds (D2C).
Avataar Venture Launches $350 Mn
Avataar Venture Partners, a growth-stage venture capitalist with a focus on SaaS and B2B technologies, has created a new fund with a target size of $350 Mn. According to the company, the fund had its first closing with participation from renowned institutional investors from the US, Europe, and the Middle East.
Upheal raises €1.068 million and launches AI-powered notes app for mental health care professionals
Upheal, a company based in Prague, has raised €1.068 million in a pre-seed fundraising round to introduce “the first-ever smart notebook for mental health professionals with AI-powered note-taking,” according to its press release. The money, according to Upheal, will be used to speed up product development, though no details were given.
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The Advantages of Vanta with Chief Revenue Officer Stevie Case
Stevie Case, chief revenue officer of Vanta, explains how and why the company automates compliance and streamlines security as well as the implications for client growth and execution speed.
SaaS Learning Section
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Must-Read
Software as a service (SaaS ) Global Market Estimated To Grow At 10% Rate
As per The Business Research Company’s “Software as a service (SaaS ) Global Market Report 2022”, the SaaS market grew from $212.2 billion in 2021 to $242.57 billion in 2022 at a compound annual growth rate (CAGR) of 14.3%.
The SaaS-based CRM Software Market is Going to Boom with Salesforce, Oracle, Aplicor, SAP
An extensive analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market is provided in the Global SaaS-based CRM Software Market Report, Covid 19 Outbreak Impact research report, which Report Ocean has added.
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