This Week In The SaaS Universe- Updates & Highlights With spotSaaS Weekly Roundup
Table of Contents
Latest Funding News
SaaS Startup Languify Raises $180,000 In Seed Funding
| Company Name | Languify |
| About the company | AI assistant that analyses corrects and tracks your spoken and written English |
| Founder Name | Lokap, Shivam, and Mohak Sahu |
| Fund raised | $180,000 |
| Investors | Titan Capital |
| How will the company use the money | The money raised will be used to expand the company’s core workforce, develop new products |
WebEngage Raises $20 Million In Series B Funding
| Company Name | WebEngage |
| About the company | Customer data platform & marketing automation suite |
| Founder Name | Avlesh Singh (Co-founder) |
| Fund raised | $20 Million |
| Investors | Singularity Growth Opportunities Fund and SWC Global |
| How will the company use the money | The company will use the funds raised to keep up its rapid expansion rate. |
Building benefits better, Ben brings home $16 million in Atomico-led round
| Company Name | Ben |
| About the company | Employee benefits platform |
| Founder Name | Ben Pellegrini |
| Fund raised | $16 million |
| Investors | European VC Atomico |
| How will the company use the money | To hire more people as it continues to advance its SaaS and payment technology offerings. |
Mergers & Acquisitions
Amazon to acquire iRobot in a $1.7B all-cash deal
According to sources, Amazon and iRobot took their partnership to a new level. Your home’s robot vacuum’s map of your interior now has an entirely different meaning.
Dublin’s Glofox to be acquired by ABC Fitness Solutions
ABC Fitness Solutions, based in the US, has bought Glofox, according to an announcement. Despite the fact that both companies are focused on offering an end-to-end digitalized platform for managing fitness, the merger will enable ABC to add to its portfolio a crucial element that was crucial to Glofox’s success—a focus on smaller, boutique fitness brands and assistance in helping them develop successful businesses. Although the deal’s financial details were not disclosed, the figure of €200 million has been bandied about.
Saleshub acquires ExactVisitor and Techtracker, merges to become Demand.
Saleshub, based in Zug, Switzerland, has bought ExactVisitor and Techtracker, combined all three brands into Demand, and funded $6.3 million while operating entirely on its own capital (more on that below). Demand is “the cheapest approach for a B2B company to target, identity, and acquire your next customer,” claims Demand founder and CEO Jesper Qvist.
SaaS news of the week
SoundCloud to shed 20% of its global workforce
The 20 % or more employee reduction process has already started, according to Berlin-based music and audio provider SoundCloud. With already 40 million members and a further 20 million joining each month, the company was growing quickly and gaining notoriety. The company said in January 2014 that it had started the difficult work of negotiating with big record labels to resolve that nagging license issue after it could no longer ignore the elephant in the room.
Summa Equity looks west, opens office in Palo Alto
The largest impact fund in Europe, according to Stockholm-based Summa Equity, has $2.4 billion available (although its founder is not a fan of the term). The company has so far amassed a portfolio of at least 23 investments, all of which are connected to the UN’s SDGs, many of which are based in Europe. But as of right now, Summa is focusing on the west and setting up shop in Palo Alto, California.
SaaS Learning Section
This week let’s learn the basics of Important SaaS metrics: LTV, CAC, CAC Payback periods and more.
Listen to Podcast
The major news stories of the week are discussed with the who, what, where, and why added by Robin and Dan.
Why the German government is a little behind schedule in dispersing its €12 billion, SoundCloud, aux money? Listen it here
Interview with Rhett Doolittle, CEO of Business Warrior Corp., on the Investor Ideas Podcast Corner: Earnings, Acquisitions, SaaS, and His Passion for Small Businesses
Must Reads
Online-only home solar seller bags $23M, pledging ‘dramatically lower prices’
Tequity Announces Its 22nd Salesforce M&A Transaction
SaaS Blogs of the week
Livestorm Growth Story since 2016
SaaS Clash – Zoom vs Bluejeans Meetings
How did Shopify grow over the years
Stay tuned for next week’s SaaS updates.
