Stay updated on the latest SaaS news. Funding news includes SocialCrowd, Kema, Ciloo; Over 140 tech companies have conducted layoffs; Renesas Electronics to buy Altium;…
SaaS Funding News
SocialCrowd Raises $1.6M in Pre-Seed Funding
SocialCrowd, a SaaS startup offering performance management software, has secured a $1.6 million pre-seed funding round. The investment was led by Bread and Butter Ventures.
Launched in 2020, SocialCrowd is a software-as-service platform that provides performance management software, letting companies set goals for their employees and reward them when they are achieved. SocialCrowd automatically tracks employee progress toward goals, reminds them of the work they have left, and rewards them instantly.
(Image Source: SocialCrowd)
Kema Raises $2M in Pre-Seed Funding
Kema, a SaaS platform based in the UAE, has successfully raised $2 million in pre-seed funding. The investment round was led by Speedinvest and supported by the Dubai Foundation District Fund (DFDF).
Kema is a B2B payments platform that aims to accelerate cash flow for SMEs in MENA. Kema allows you to simplify your collection, stop chasing your customers, accept online payments, and get paid faster using powerful automation via a simple plugin.
This funding will be used to launch its SME-focused platform and support its expansion within the UAE.
Ciloo Closes its First Fundraise
Ciloo, a software company with Dutch and Norwegian roots, has closed its first fundraising round led by Alliance VC. The round was joined by angel investors Trond Riieber Knudsen, Andreas Sjolund, Anders Storeng, Petter Skulstad, Magnus Gaarder, and Christian Paulsboe.
Ciloo is a global e-commerce platform, offering an all-in-one portal on a global scale. The platform can be seamlessly integrated with ERP systems and DAM portals. Recognizing the presence of many infrequent buyers within a global company, Ciloo has focused on making the user experience as easy as possible – just like buying from any online store.
This investment will support the company’s goal of transforming internal eCommerce for global enterprises.
(Image Source: Ciloo)
SaaS M&A News
Japanese semiconductor company Renesas Electronics announced its acquisition of electronics design software firm Altium for $5.89 billion in cash. The move aims to optimize Renesas’ electronics design process.
With a common vision in mind, Renesas Electronics and Altium will unite their strengths to create an integrated and open electronics system design and lifecycle management platform.
The deal is anticipated to be finalized in the second half of 2024, pending approval from shareholders and regulators.
More SaaS News of the Week
According to Layoffs.fyi, since the start of 2024, over 140 tech companies have conducted layoffs. These firms have cut over 34,000 jobs, highlighting the dynamic nature of the sector as companies navigate towards emerging technologies while reorganizing their operational strategies. The latest tech layoff news is that DocuSign is cutting 6% of its workforce; Grammarly is laying off 230 employees; and Toast is cutting 10% of its workforce.
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