SaaS Weekly Roundup #33 – SaaS Funding and SaaS Growth

Stay updated on the latest SaaS news, Rupyz raises $1.2M for its B2B Commerce SaaS platform, Attentive.ai secures $7M for outdoor services software, and Xensam receives $40M for AI-powered software asset management. GrowthCap Ventures secures Rs 20 crore for early-stage tech investments, while Varonis reports strong SaaS growth.

Key Takeaways

• B2B Commerce SaaS Platform Rupyz Raises $1.2M in Seed Funding
• AI SaaS Startup Attentive.ai Raises $7M in Series A Funding
• Xensam Raises $40M from Expedition Growth Capital
• GrowthCap Ventures Secures Rs 20 Crore for Early-Stage Investments in Fintech, SaaS, and Deeptech Startups
• Varonis Saw Strong SaaS Growth in Q4 and Full-Year 2023

B2B Commerce SaaS Startup Rupyz Raises $1.2M in Seed Funding

Rupyz, an integrated SaaS Platform for B2B Commerce, has received $1.2 million in seeding funding from Merak Ventures, an early-stage venture capital (VC) firm. This investment will be strategically allocated to improve Rupyz’s core technological services, providing dependable and scalable solutions tailored to the evolving needs of SMBs.

Acknowledging the rapid growth of India’s B2B and retail e-commerce sectors, Rupyz is developing a Software-as-a-service platform tailored to support businesses. This platform aims to empower brands by efficiently distributing their products through an omnichannel strategy, seamlessly integrating various sales channels such as online marketplaces, social media platforms, mobile apps, and traditional stores.

Looking ahead, Rupyz is planning to grow quickly by bringing on board more than 3000 businesses within the next 12 to 15 months. This shows their strong dedication to helping small and medium-sized businesses succeed in today’s fast-changing market. The recent investment will be used strategically to enhance their core technological services, ensuring reliable and scalable solutions that meet the changing requirements of SMBs.

AI SaaS Startup Attentive.ai Raises $7M in Series A Funding

Attentive.ai is a business management software provider for the landscaping and outdoor services industries. Recently, they managed to raise $7 million in their Series A funding round. This funding was mainly led by Vertex Ventures Southeast Asia and India, with support from their current investors, Peak XV Partners and InfoEdge Ventures.

The company plans to use the fresh funds to make their products better, boost sales, and marketing, and improve how they help customers succeed. They’re focusing on two new products they recently launched: Accelerate and Beam AI. Accelerate is software that helps manage outdoor services businesses. Beam AI is a super smart tool made for the construction industry. It uses AI to help companies sell stuff more easily.

(Image Source: Attentive.ai)

SaaS Startup Xensam Raises $40M from Expedition Growth Capital

Xensam, a SaaS company that provides AI-powered software asset management, secures $40 million in funding from Expedition Growth Capital to fuel the advancement of its next-gen AI-powered Software Asset Management solutions.

Xensam envisions revolutionizing SAM through streamlined automation leveraging proprietary AI technology. Its user-friendly platform empowers IT leaders and stakeholders to gain precise insights into application usage across their digital ecosystem, driving substantial cost reductions and operational efficiencies.

Xensam’s platform, featuring its perpetual agent, boasts the capability to effortlessly identify vast arrays of applications, spanning both SaaS and on-premise realms, offering a holistic view across hybrid environments. The generated insights are intuitively accessible, requiring no specialized technical knowledge or manual setup. Moreover, the platform seamlessly integrates with various software solutions, augmenting data collection for a unified repository. With its Security Center, Xensam furnishes a comprehensive overview of compliance risks and security vulnerabilities, encompassing pirated software detection and anti-virus utilities, thereby mitigating the potential for security breaches.

(Image Source: Xensam)

GrowthCap Ventures Secures Rs 20 Crore for Early-Stage Investments in Fintech, SaaS, and Deeptech Startups

GrowthCap Ventures, a category II AIF fund, has secured an initial funding of Rs 20 crore, marking the beginning of its journey to invest in early-stage startups focusing on Fintech, SaaS, and Deeptech. The fund plans to provide funding ranging from Rs 2 crore to Rs 6 crore. With a mission to redefine early-stage investment, GrowthCap Ventures’ inaugural Operator VC fund aims to back 10-12 startups within the next 20 months.

(Image Source: GrowthCap Ventures)

Varonis Saw Strong SaaS Growth in Q4 and Full-Year 2023

Varonis (Nasdaq: VRNS), known for its expertise in data security, has shared its financial results for the fourth quarter and full year ending December 31, 2023. Annual recurring revenues experienced a 17% year-over-year growth, with SaaS ARR accounting for roughly 23% of the total ARR. These results highlight the company’s continued growth and success in offering its cloud-based Data Security Platform. Varonis expects the uptake of SaaS to accelerate in dollar terms in the coming year, which positions them well as they enter 2024.

(Image Source: Varonis)