SpotSaaS Weekly Roundup #18

This Week In The SaaS Universe- Updates & Highlights With spotSaaS Weekly Roundup 

Latest Funding News 

Tapline Raises $31.7 Million in Pre-Seed Round

Protopia AI Closes $6 Million in Seed Round

ifeel Raises $10 million in Series A

HYPR raises $25 Million in Series C1

Produce8 Raises $6 Million in Funding

Mergers & Acquisitions

Getir acquires German competitor Gorillas in $1.2 billion deal

The acquisition of Berlin-based Gorillas by Turkey’s ultrafast grocery service Getir for $1.2 billion has been officially announced, giving the merged company a $10 billion valuation. According to reports, the deal is primarily made up of equity, with investors receiving about $40 million in cash.

HGS announces acquisition of TekLink International and uKnowva

Hinduja Global Solutions Limited (HGS) keeps up-to-date with its continuing transformation into a digital-led, human-driven customer experience (CX) services provider by making major investments in enhancing its digital capabilities. Two M&A developments have been announced by the company to help its transformation into HGS 2.0.

Buyers Edge Platform Acquires RASI, Restaurant Accounting and Payroll Company

A prominent digital procurement platform announced the acquisition of RASI (Restaurant Accounting Services Inc.), a top provider of accounting, payroll, and financial software for the food service sector with a monthly transaction volume of more than $50 billion. RASI handles 20,000 payroll checks for restaurant employees each week and $2.9 billion in accounts payable annually for more than 2,000 companies in the US.

SaaS News of the Week

Vitech Appoints David Burns President

David Burns has been named president of Vitech Systems Group, a global provider of cloud-native software that aids insurance, retirement, and investment customers in expanding their offerings and capabilities, streamlining their operations, gaining analytical insights, and transforming their engagement models. Burns will report to CEO Richard Hart.

How Palo Alto Networks became the gold standard of cybersecurity – and what it has to do to stay on top

The name Palo Alto Networks Inc. has become synonymous with security leadership. Revenue, market capitalization, execution, and—most importantly—discussions with chief information security officers can all be used to gauge this.

In the fiscal year 2023 from the fiscal year 2020, the company is on track to treble its revenue to close to $7 billion. With the help of significant acquisitions and integrations into its cloud and software-as-a-service offerings, Palo Alto has maintained its leadership position through a clear vision and effective execution of a total available market expansion plan.

GoRamp Highlights the Importance of Logistics Automation as a SaaS Tool

GoRamp has developed significantly to become the industry leader in high-quality logistics automation systems, with features that set it apart from its rivals. Storage, supply chain management, and transportation management analysis are just a few of the areas where employing logistics automation is important.

Entera Strengthens Leadership Team With The Hire of Mark Bell as Senior Vice President of Marketing

Mark Bell has been appointed Senior Vice President of Marketing at Entera, the top SaaS platform for investors in single-family homes. Bell will report to Chief Executive Officer Martin Kay. As Entera executes on its goal of transforming the way real estate investors buy, sell, and operate single-family homes, Bell will lead and expand the company’s marketing division.

Listen to Podcast 

Inside the SaaS playbook with SuperOps CEO Arvind Parthiban

In this episode of the Prime Ventures Partners Podcast, Arvind Parthiban, Co-founder and CEO of SuperOps.ai, spills the beans about the thriving SaaS market.

Listen here

SaaS Learning Section

How Zero Trust Secures Business-Critical SaaS Application Data

Zero trust is based on the idea that organisations must believe everyone and everything has the potential to cause harm and that everything must be verified before allowing access. Today’s post-pandemic environment is characterised by fragmented workforces and growing cloud migration, which exacerbates the issues that enterprises have with unmanaged data and Software as a Service (SaaS) sprawl. SaaS apps have shown to be an excellent way to simplify the sharing of assets and information. 

Learn More

Must-Read 

Accela Awarded Inc.’s 2022 Best in Business Designation for Software as a Service

Accela, the reliable provider of cloud solutions at the centre of government operations, announced that it had won the Software as a Service (SaaS) category of the Inc. 2022 Best in Business Award. The Inc. Best in Business Awards honours the organisations that have had the greatest positive influence on society, their industry, their communities, and the environment.

Not All Is Lost in SaaS VC: Tips from Salesforce Ventures, ICONIQ Growth, and Accel

A challenging macro environment. Capital efficiency. Growth rate retention. Valuation. These words are creating storm clouds in the business-to-business (B2B) software-as-a-service (SaaS) sky. Companies that got close to or hit the net new annual recurring revenue (ARR) goal in 2021 can’t say the same about 2022. Tech startups missing those ARR targets are realizing that it’s hard to be a decacorn, maintain a worth of $10 billion, and deliver basic venture returns. On the contrary, SaaS cloud leaders are growing at epic rates well beyond $1 billion in ARR.

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