This Week In The SaaS Universe- Updates & Highlights With spotSaaS Weekly Roundup
Table of Contents
Latest Funding News
Icertis raises $75 million as a SaaS Unicorn
| Company Name | Icertis |
| About the company | Contract management software |
| Founder Name | Samir Bodas and Monish Darda |
| Fund raised | $75 million |
| Investors | Debt Financing |
| How will the company use the money | On enhancing net revenue retention and expanding its market share in the US, UK, and other markets |
Munich-based Workerbase raises €10 million
| Company Name | Workerbase |
| About the company | Production management software |
| Founder Name | Norman Hartmann, Thorsten Krüger and Hamid Reza Monadjem |
| Fund raised | €10 million |
| Investors | Almaz Capital, Porsche Ventures and Bayern Kapital |
| How will the company use the money | To expand the platform and aid manufacturers in overcoming difficult times. |
Fintech All Gravy raises seed round of €3.2 million
| Company Name | All Gravy |
| About the company | Management Software |
| Founder Name | Jonatan Rasmussen and Kristian Lundager |
| Fund raised | €3.2 million |
| Investors | Moonfire, Founders, Upfin and The Nordic Web Ventures and more |
| How will the company use the money | For its ‘people operating system’ for the retail and hospitality sectors. |
Berlin’s Ninetailed has raised €5 million in a seed round
| Company Name | Ninetailed |
| About the company | personalization and experimentation platform |
| Founder Name | Andy Kaiser |
| Fund raised | €5 million |
| Investors | Mosaic Ventures and Cherry Ventures |
| How will the company use the money | Aimed at expanding the team size, further developing of its tech stack |
Dutch AI chip maker Axelera bags $27 million
| Company Name | Axelera |
| About the company | AI chip maker |
| Founder Name | Fabrizio del Maffeo |
| Fund raised | $27 million |
| Investors | Innovation Industries |
| How will the company use the money | The funds will be used to, “support Axelera AI’s launch and mass production of its first-generation AI acceleration platform |
Payroll business CloudPay raises $50 million
| Company Name | CloudPay |
| About the company | Global pay solutions |
| Founder Name | Jienya Feldman |
| Fund raised | $50 million |
| Investors | Runway Growth Capital and The Olayan Group |
| How will the company use the money | To support continued innovation of end-to-end enterprise global pay offerings, meeting the need for integrated payroll and payments services |
Mergers & Acquisitions
No sheet: eToro acquires portfolio management provider Bullsheet
eToro has acquired Lisbon-based Bullsheet, a provider of portfolio management tools designed exclusively for eToro users. The purchase price remains undisclosed.
Worldline flogs terminal business, acquires 55% stake in SoftPos.eu
Just weeks after completing the sale of its terminal business to Apollo Funds for €2.3 billion, Worldline has moved to acquire a 55% stake in SoftPos.eu, a Warsaw-based fintech that converts Android devices into secure payment terminals.
Visma acquires OutSmart and market leader in field service management software
Visma, a European leader in cloud software, acquires OutSmart. OutSmart is a SaaS scale-up that develops field service management software for small and medium-sized companies.
OutSmart was founded in the Netherlands and is also active in Belgium, Germany, and Portugal. By joining Visma, OutSmart can accelerate its growth ambitions.
Swiss dua.com buys German dating app
The dating and matchmaking app dua.com expands by acquiring Spotted.de. In addition, Zurich-based dua.com announced the closing of a $4 million Series A round.
SaaS News of the Week
Unito raises $20 Million
Unito, a business that unites various software-as-a-service (SaaS) platforms, has raised $20 million in a Series B fundraising round with the help of CDPQ’s Equity 253 fund. Unito allows processes to be used by a range of tools, teams, and organizations.
Wise lands £300m debt facility to fuel growth plans
The syndicated debt facility was arranged and led by Silicon Valley Bank UK with six other banks also participating. Wise, allows individuals and business customers, including banks and large companies, to hold over 50 currencies, move money between countries and spend money abroad.
Valence Security raises new cash to secure the SaaS app supply chain
Valence Security, a company securing business app infrastructure, today announced that it raised $25 million in a Series A round led by M12, Microsoft’s corporate venture arm, with participation from YL Ventures, Porsche Ventures, Akamai Technologies and more.
SaaS Online Video Platforms Market Giants Spending Is Going to Boom
The latest study released on the Global SaaS Online Video Platforms Market by AMA Research evaluates market size, trend, and forecast to 2027. The SaaS Online Video Platforms market study covers significant research data and proofs to be a handy resource document
Listen to Podcast
Is This SaaS Giant a Buy Now?
SaaS (software as a service) solutions have gained popularity in recent years. Do investors need to buy shares now that they are significantly lower? In this podcast, Jamie delves deeply into that query.
Saas Learning Section
Cloud Computing Services Models – IaaS PaaS SaaS Explained.
Must-Read
Here’s Why Servicenow’s Stock Soared In A Week Of Dismal Tech Earnings Reports
SaaS stocks, in particular, are having a rough year, so when a SaaS stock does well, well, that’s news. And that’s what happened to ServiceNow this week when it reported Q32022 earnings.
UK regulator warns over Big Tech’s growing interest in finance
The UK financial regulator has warned that Big Tech’s growing interest in payments, lending, and other finance products might harm competition and leave traditional providers at a disadvantage.
Elon Musk’s first move as Twitter’s new owner has been to fire at least 4 top executives
As his first action after formally taking control of Twitter, Elon Musk fired at least four senior executives on Thursday, according to sources familiar with the situation.
CEO Parag Agrawal, chief financial officer Ned Segal, top legal and policy executive Vijaya Gadde, and general counsel Sean Edgett are among the leaders who have been let go.
