This Week In The SaaS Universe- Updates & Highlights With spotSaaS Weekly Roundup
Latest Funding News
Hatica Raises $3.7 Million in Seed Round
| Company Name | Hatica |
|---|---|
| About The Company | Hatica provides a SaaS-based engineering analytics platform that helps boost developer productivity. Hatica equips engineering leaders, managers, and software developers with software development dashboards, alongside team productivity and workflow insights, to help them drive team effectiveness, alignment, and well-being. |
| Founders’ Name | Naomi Chopra and Haritabh Singh |
| Funds Raised | $3.7 Million |
| Investors | Surge, Sequoia Capital India, and Southeast Asia’s rapid scale-up program, with participation from existing investor Kae Capital, with Akshay Kothari (Notion), Apurva Dalal (Twitter), Punit Soni (Google) and Pratyus Patnaik (Okta) among others. |
| How will the company use the funding | The fresh funds will be used for hiring and expanding its team globally. |
Levr.ai Secures $1 Million in pre-Seed Round
| Company Name | Levr.ai |
|---|---|
| About The Company | Levr.ai is an intelligent loans platform built to get your business funded—fast. It uses AI to customize loan matches based on your business’s data. Levr.ai’s intelligent loans platform comes with free built-in resources. This includes guides, templates, and how to optimize the creation of required documents. |
| Founders’ Name | Kaylan Pepin and Roman Hartmann |
| Funds Raised | $1 Million |
| Investors | Funding round co-led by Sprout.vc and MAVAN Capital Partners. |
| How will the company use the funding | The funds raised will be invested in growing the existing team and expanding its reach to service United States-based businesses. |
Jobber rakes in $100M to help painters get a job faster
| Company Name | Jobber |
|---|---|
| About The Company | Helps small home service businesses modernise their operations, increase their earning potential, and meet consumer expectations. With its all-in-one SaaS and mobile solution, businesses can manage the entire customer lifecycle, including quoting, scheduling crews, dispatching jobs, invoicing, and accepting credit card payments. |
| Founders’ Name | Forrest Zeisler and Sam Pillar |
| Funds Raised | $100 million |
| Investors | Investor General Atlantic led the round of funding |
| How will the company use the funding | The investment is anticipated to support its continued growth through investments in R&D, sales and marketing, and new customer acquisition. |
Blobr raises another $5.4 million for its API monetization product
| Company Name | Blobr |
|---|---|
| About The Company | The company calls itself the “Shopify for APIs,” which is a good way to sum up what it does: Companies that have an API and want to start selling API access to other companies can use Blobr to run their API store. |
| Founders’ Name | Alexandre Airvault & Alexandre Mai |
| Funds Raised | $5.4 million |
| Investors | 10x Founders, FJ Labs, another.vc and several business angels like Charles Songhurst, Thibaud Elziere, Quentin Nickmans, Amaury Sepulchre, Matthieu Vaxelaire and Chris Adelsbach participated in the round. |
| How will the company use the funding | The team will be using the seed funding to accelerate the expansion of its no-code technology to further expose and monetize data through APIs. |
Mergers & Acquisitions
Francisco Partners Acquiring Sumo Logic for $1.7 Billion, Taking It Private
Global investment firm Francisco Partners is buying publicly traded Sumo Logic for $1.7 billion and moving it private.
Shareholders of Sumo Logic will get $12.05 in cash per share as per the terms of the transaction. The unaffected closing stock price of Sumo Logic on January 20 is represented by a premium of nearly 57%. Prior to media reports about a potential transaction, that was the last complete trading day.
Connected car consolidation, as Urgently acquires Otonomo in reverse merger after its market cap plunges to $70M
Otonomo, a connected automotive company that has seen its stock price plummet since going public in 2021, has announced that it is coming together with Urgently, a roadside assistance tech provider, in a reverse merger.
SaaS News Of The Week
Meta acquires Within despite FTC concerns
After filing a complaint with the FTC for antitrust violations, Meta has finalized its acquisition of Within, the VR company that created the fitness app Supernatural. The deal has been waiting for the appropriate permits for more than a year.
Binance acquires majority stake in Korean crypto exchange GOPAX
Binance Holdings intends to re-enter the South Korean market after leaving it in 2021. The majority share in the South Korean-based cryptocurrency exchange GOPAX has been acquired, according to the largest cryptocurrency trading platform in the world by volume.
Listen To SaaS Podcast
Why You Want to Develop Product Painkillers, Not Vitamins with DigitalOcean CPO Gabe Monroy
As Chief Product Officer at DigitalOcean and a developer-turned-entrepreneur himself, Gabe Monroy is deeply familiar with some of the pitfalls that founders encounter on the road of product development. In this session, Gabe will discuss how founders can avoid the trap of over-engineering products, as well as why focusing on the must-haves (developing “painkillers” for your customer’s problem) will better serve your business versus focusing on the nice-to-haves (developing “vitamins”).
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