This Week In The SaaS Universe- Updates & Highlights With spotSaaS Weekly Roundup
Table of Contents
Latest Funding News –
Elevate HQ raises $1.1mn in the pre-seed round, led by Leo Capital
| Company Name | ElevateHQ |
| About the company | ElevateHQ is a sales commission software designed to boost sales performance and motivate sales teams. Our easy-to-use designer can automate any commission plan seamlessly. |
| Founder Name | Apoorv Singh |
| Fund raised | $1.1mn |
| Investors | Leo Capital. Veda VC, PointOne Capital, and 100X Entrepreneurs |
| How will Elevate HQ use the money | Raised funds will be used to hire new employees, strengthen the product, and expand into other markets in North America |
Fintech SaaS Platform Fundflo Technologies Raises Seed Funding
| Company Name | Fundflo Technologies |
| About the company | Automated, simple and AI-driven platform for Supply Chain Invoice Presentment, Payments, Financing and Real-time reconciliation |
| Founder Name | Rattan Chugh |
| Fund raised | Undisclosed amount |
| Investors | Ashish Kacholia (Lucky Investments) |
| How will Fundflo Tech use the money? | Raised funds will allow the company in investing new technology & develop new products |
Attentive Raises $5 Million From Sequoia India’s Surge And InfoEdge Ventures
| Company Name | Attentive Inc |
| About the company | SaaS-based sales automation platform for the outdoor service industry that includes landscaping, snow removal, paving and pest control business. |
| Founder Name | Shiva Dhawan |
| Fund raised | $5mn |
| Investors | Sequoia India’s Surge Fund and InfoEdge Ventures |
| How will Attentive use the money | Raised funds will be utilised to expand the platform and add additional modules to automate the remaining landscaping activities. |
TextExpander raises $41.4mn in its first-ever funding led by Summit Partners.
| Company Name | TextExpander |
| About the company | It reduces the number of keystrokes to create commonly used snippets by up to three orders of magnitude while boosting productivity at the same time. TextExpander also enables the creation of customized shortcuts to launch commonly used applications and websites. |
| CEO | J.D. Mullin |
| Fund raised | $5mn |
| Investors | Summit Partners |
| How will TextExpander use the money | Raised funds will be utilized to build more advanced features like API availability for chatbots etc., improve existing operations & to build services for audio-based interactions |
Mergers & Acquisitions
Shiprocket acquires Arvind Ltd’s SaaS biz Omuni
Shiprocket, a logistics technology platform, has acquired Arvind Internet Limited’s omnichannel technology firm, Omuni. The transaction involves cash and stock for a total consideration of Rs 200 crore. This is the Zomato-backed company’s fifth purchase in 2022.
Shiprocket’s logistic capabilities will be strengthened with the acquisition of Arvind Internet. Arvind Internet said in a National Stock Exchange (NSE) filing that the agreement would enable swift, efficient delivery of items from the nearest store or warehouse, reducing delivery times and improving customer experience.
Fintech SaaS Company Clear Acquires CimplyFive
Clear, a fintech SaaS company, announced that it has acquired CimplyFive, a cloud-hosted application that automates company law and SEBI listing obligations compliance in all-cash deals.
With this acquisition, Clear’s enterprise customers will have access to comprehensive compliance risk management software that eliminates many procedural non-compliance under the Indian Companies Act, 2013.
SaaS news of the week
Zoom launches workspace reservation to optimize hybrid work environments
Zoom is introducing Workspace Reservation, which will be available to assist you in satisfying various demands. Teams can now reserve office space in advance, see who else is coming in, and get recommendations on where to sit. Workspace Reservation was even used by some test users to book parking places in advance.
q.beyond launches SaaS remote service for machine tool company Schütte
Schütte, a machine tool manufacturer with global operations, is drawing on the edge computing solution provided by q.beyond AG to offer its own customers an innovative remote service. This solution makes it possible for the first time to collect exact data on the actual use of machines sold by Schütte. This will open up new business models for the machine tool manufacturer: Using the “SICS.live” remote service, customers will gain insights into the current status and availability of their Schütte industrial machines.
SaaS Learning Section
This week let’s learn the basics of Churn in the SaaS Industry – What it is and how to calculate and predict.
Listen to Podcast
This week we bring you a podcast from SaaS Club where he talks about the importance of content marketing and how to scale content promotion with Farzad Rashidi. Farzad Rashidi is the co-founder of Respona, an all-in-one link-building outreach software that helps businesses increase their organic traffic from Google.
Listen to it here – https://saasclub.io/podcast/farzad-rashidi-respona-323/
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