This Week In The SaaS Universe- Updates & Highlights With spotSaaS Weekly Roundup
Latest Funding News
Prevu3D Closes $10 Million in Funding
| Company Name | Prevu3D |
|---|---|
| About The Company | Advanced software tools for better managing industrial installations are being developed by Prevu3D. It provides a novel approach to the problem of managing huge indoor and outdoor spaces using straightforward collaborative 3D software. |
| Founders Name | Nicolas Morency |
| Funds Raised | $10 Million |
| Investors | Cycle Capital, Brightspark Ventures and Desjardins Capital. |
| How will the company use the money | With the additional funding, Prevu3D will be able to expand and speed up the deployment of its 3D digital twin platform for industrial contexts, further realizing its long-standing goal of rethinking the physical world. |
Kern AI Raises €2.7 Million in Seed Round
| Company Name | Kern AI |
|---|---|
| About The Company | In order to power natural language products, processes, and ETL pipelines, Kern AI is a data-centric platform. Natural language processing services provided by Kern AI provide a variety of ways for people and machines to interact. |
| Founders Name | Johannes Hötter and Henrik Wenck |
| Funds Raised | €2.7 Million |
| Investors | Seedcamp and Faber, xdeck, Another.vc, Nicolas Peters, Gerrit de Veer, Marcus Nagel, Sebastian Heinz and Julius Heinz, and TKM Family Office. |
| How will the company use the money | The funds will be used to expand its platform’s capabilities and use case catalog, grow its developer community, and make it generally available to the public. |
Rekonnect Raises SEK 4.6 Million
| Company Name | Rekonnect |
|---|---|
| About The Company | Rekonnect helps medical technology businesses adhere to MDR’s post-market surveillance obligations. Rekonnect provides MedTech companies with post-market training, customer support, and regulatory reporting tools that combine product and user success aspects. |
| Founders Name | Will Gray |
| Funds Raised | SEK 4.6 Million |
| Investors | Curus, LOOP Capital, Fast Track Capital, AngCell Ventures, Ingela Hallberg, Emil Sjödin, and Björn Andersson. |
| How will the company use the money | The funds will aid the company in ramping up its growth. The funds will be used to further develop the platform, acquire customers and expand its core team. |
Xaba Closes Seed Funding Round
| Company Name | Xaba |
|---|---|
| About The Company | Xaba develops new processes, control systems, and materials that automate and enable sustainable manufacturing. Its intellectual property uses artificial intelligence (AI) to control industrial robots and enable additive manufacturing machines to synthesize new materials or create true digital twins. |
| Founders Name | Massimiliano Moruzzi |
| Funds Raised | NA |
| Investors | Hazelview Ventures, and Whiteshell Group Inc. |
| How will the company use the money | The investment will be used to accelerate the development of two Xaba manufacturing platforms, launch pilot programs, and grow the team across sales, deployment, and customer support. |
Mergers & Acquisitions
Zscaler Acquiring Canonic Security for SaaS Supply Chain Security
Zscaler, a provider of cloud security services, is buying Canonic Security, an Israeli firm that makes SaaS application security platforms. It seeks to reduce the rising risks of SaaS supply chain threats for businesses.
SaaS News Of The Week
Tech Layoffs: U.S. Companies That Have Cut Jobs In 2022 and 2023
According to a Crunchbase News count, more than 93,000 workers in American IT companies have already lost their jobs in 2023, and the year has only barely begun. The 1,500 job cuts announced by Twilio, the 680 job cuts announced by DocuSign, and the 370 job cuts announced by Wix this week all go toward this total.
GoDaddy Says Recent Hack Part of Multi-Year Campaign
GoDaddy has revealed another cyberattack, and the business thinks the breach was a part of a multi-year operation run by a knowledgeable threat actor.
Listen To The SaaS Podcast
CRO Confidential: How Customer-First Focus Drives Retention and Revenue With Brex GM of Startups Lucas Fox
In this edition of CRO Confidential, Sam Blond (former CRO at Brex and current Partner at Founders Fund) hosts his former colleague Lucas Fox (GM of Brex for Startups). They discuss how Fox helped build a churn-fighting, upselling, and cross-selling machine that continues to generate revenue.
Watch This SaaS Video
💡 SaaS Ideas to Build Right Now, Before Someone Else Does ⚠️
Must Read
Top 5 SAAS Trends Shaping Business And It’s Future
- Artificial Intelligence
- No-Code Feature
- White Labelling
- Vertical SaaS
- Micro-SaaS
Global SaaS Market Expected to Reach $462.94 Billion by 2028
SaaS is one of the fastest-growing segments of the technology industry, with a projected compound annual growth rate (CAGR) of 18.5% from 2021 to 2028, according to a report by The Insight Partners.
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