Stay updated on the latest SaaS news. SaaS Funding: Pimberly, Heyflow, Pronto Housing, Choice,… Showpad Co-founder launches Venture Studio and $30M early-stage VC fund; AvePoint announces fourth quarter and full year 2023 financial results.
SaaS Funding News
Pimberly Raises £4 Million in Funding
Pimberly, a SaaS platform offering PIM, DAM, and Workflow solutions, has secured £4 million in funding. This investment comes from NPIF – Mercia Equity Finance, managed by Mercia and part of the Northern Powerhouse Investment Fund (NPIF), along with additional funds from Mercia. This latest funding round brings Pimberly’s total raised capital to over £14 million.
The funding will enable Pimberly to improve its platform, expand its US presence, and further penetrate the European market. Additionally, the company plans to create 20 new jobs in the UK over the next two years and expand its teams in the US and Canada.
Heyflow Raises $16 Million in Series A Funding
Heyflow, a SaaS firm providing a no-code platform for rapid web conversion enhancement, has secured $16 million in Series A funding led by Singular. This round has brought the startup’s total funding to $22 million.
The investment will enable them to expedite product development and refine their no-code platform, introducing advanced features and integrations that offer users greater flexibility and creative control. This funding milestone propels Heyflow into a future where conversions are automated and AI innovation seamlessly drives impactful lead generation for businesses.
Pronto Housing Brings Total Funding to $9.5 Million
Pronto Housing, a software solution that simplifies complex affordable housing processes has secured a significant investment from a consortium of affordable housing industry leaders. Notable investors include Infinity Capital Partners, MRK Partners, Icon National, and others, who collectively contributed $3 million to Pronto Housing’s latest funding round. This brings the company’s total funding to date to $9.5 million.
The funding will enable Pronto Housing to expedite its vision of revolutionizing affordable housing through innovative software solutions.
Choice Raises €2.3 Million Investment for Restaurant Services
Choice, a B2B SaaS platform designed for restaurants, has successfully raised €2.3 million in a fresh investment round. The round was led by Prague’s J&T Ventures, with continued backing from existing investors Reflex Capital and Presto Ventures.
The secured investment capital will be utilized to expand its service offerings through entry into new markets such as Romania, Kazakhstan, Georgia, and Croatia. Simultaneously, the company will continue to grow within its existing markets, which include Poland, Czechia, Slovakia, Hungary, and Ukraine. With a current presence in eight countries, Choice has experienced a remarkable 300% growth over the past year.
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Showpad Co-founder Launches Entourage, Venture Studio and $30M Early-stage VC
Pieterjan Bouten, co-founder and former CEO of SaaS company Showpad, has launched Entourage, a Venture Studio and early-stage VC raising over $30 million combined.
The capital will be used to create and invest in a vetted approach to building new software companies with Entourage Studio. Additionally, it will be used for a targeted early-stage investment strategy to back the most ambitious European SaaS founders. Their goal is to build and fund the next generation of B2B-focused SaaS businesses, focusing on innovative products and services that drive growth and transformation in the enterprise category.
The Studio aims to launch three to five companies in the next three years. Additionally, the fund plans to invest in 12-15 companies over the next four years, always reserving some capital for follow-on rounds.
AvePoint Announces Fourth Quarter and Full Year 2023 Financial Results
AvePoint, a platform dedicated to optimizing SaaS operations and ensuring secure collaboration, has announced its financial results for the fourth quarter and full year of 2023.
In the fourth quarter of 2023, total revenue reached $74.6 million, marking a 17% increase from the same period in 2022. SaaS revenue was $45.3 million, reflecting a significant 37% growth compared to the fourth quarter of 2022.
For the full year of 2023, total revenue stood at $271.8 million, showing a 17% rise from the previous year. Within this, SaaS revenue was $161.0 million, a remarkable 37% increase from the full year of 2022. As of December 31, 2023, ARR reached $264.5 million, marking a 23% year-over-year growth. Adjusted for FX, ARR grew 24%.
Looking ahead, AvePoint’s expertise in securing and managing organizations’ rapidly expanding data estates leaves it well-positioned to drive businesses’ generative AI adoption in 2024 and beyond.
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