This Week In The SaaS Universe- Updates & Highlights With spotSaaS Weekly Roundup
Latest Funding News
Leading SaaS Startup Portside Raises Astounding $50 Million
| Company Name | Portside |
|---|---|
| About The Company | Portside is a cutting-edge, cloud-based operating system that consists of a collection of integrated software solutions that deal with the sector’s most pressing problems. |
| Founders Name | Alek Vernitsky and Alek Strygin |
| Funds Raised | $50 million |
| Investors | Insight Partners, with participation from existing investors, including I2BF Global Ventures. |
| How will the company use the money | The team suggests, the capital from the latest funding round will be put toward software development and further expanding Portside’s customer base and product portfolio. |
Addressable Raises $7.5 Million in Seed Round
| Company Name | Addressable |
|---|---|
| About The Company | Addressable is an end-to-end Web3 marketing solution. It provides Web3 companies with a crucial solution for precise targeting, which dramatically reduces cost-of-acquisition when compared to the general, broad targeting options found in existing Web2 tools. |
| Founders Name | Tomer Sharoni |
| Funds Raised | $7.5 million |
| Investors | The round was led by Viola Ventures and Fabric Ventures, with participation from North Island Ventures, Mensch Capital, and others. |
| How will the company use the money | With this new funding, the company aims to provide a solution that allows Web3-focused businesses to easily attract new customers, create exciting, innovative channels of communication, nurture current members, and monitor all marketing activities from a community perspective. |
Onehouse Raises $25M in Series A Funding
| Company Name | Onehouse |
|---|---|
| About The Company | Onehouse provides a cloud-native managed lakehouse service that makes data lakes easier, faster, and cheaper. |
| Founders Name | Vinoth Chandar |
| Funds Raised | $25 million |
| Investors | The round was co-led by Addition and Greylock. |
| How will the company use the money | The company intends to use the funds to continue to advance Onehouse and to accelerate growth of the team to meet the market demand. |
Coverflex Secures €15 Million in Series A Funding
| Company Name | Coverflex |
|---|---|
| About The Company | Coverflex is a compensation management solution that brings together every part of employee compensation beyond salary. |
| Founders Name | Nuno Pinto, Miguel Santo Amaro, Rui Carvalho, Luís Rocha, & Tiago Fernandes |
| Funds Raised | €15 million |
| Investors | The round was led by SCOR Ventures, with participation from Breega, MS&AD, Armilar, Stableton, BiG Start Ventures, and Shilling. |
| How will the company use the money | The proceeds will be used to grow its team to more than 150 people by the end of 2023, mainly in its product, sales, and engineering teams. |
Mergers & Acquisitions
Apax-Backed EcoOnline Acquires Alcumus EHS SaaS Business
EcoOnline, a top European provider of environment, health, and safety (EHS) software as a service (SaaS), has acquired the software division of Alcumus, a prominent provider of risk management solutions with headquarters in the UK.
Jungle Ventures-Backed BetterPlace Strikes Maiden Overseas Deal
Purchasing the Indonesian company MyRobin marked the entry of the blue-collar labor management company BetterPlace Safety Solutions Pvt. Ltd into the South East Asian market.
SaaS News Of The Week
Google Slapped With Antitrust Suit
As one of the biggest brokers, providers, and online auctioneers of advertisements put on websites and mobile applications, Google is accused of abusing its position in a lawsuit filed. This is the Justice Department’s second against the Alphabet Inc. division after one filed in 2020.
Pender Ventures Closes First Half Of $100 Million Target For Second Venture Fund
In the first close of its second venture fund, Pender Ventures raised $50 million CAD, putting it halfway toward its $100 million CAD goal.
Listen To SaaS Podcast
Have We Reached Peak Content in SaaS?
In this episode, you will get to learn from John Collins, consultant and advisor to tech companies:
📝 Lessons on building content machines at both Intercom and Ramp
📝 How we can win with content marketing going forward
📝 His thoughts on SaaS companies buying Communities/Media companies
📝 His take on SEO as a strategy – does it work?
📝 What’s next for him!
Watch This SaaS Video
7 AI SaaS Ideas You Can Start In 2023 🚀 (ChatGPT, GPT-3, Stable Diffusion)
Must Read
Gartner Forecasts Worldwide Public Cloud End-User Spending to Reach Nearly $600 Billion in 2023
According to the most recent projection from Gartner, Inc., global end-user spending on public cloud services will increase by 20.7% to $591.8 billion in 2023 from $490.3 billion in 2022.
Market statistics for SaaS
There are a total of 25000 SaaS companies, out of which 17000 are in the US, accounting for 60% of the total SaaS companies.
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