Forget unicorns, make way for decacorns. Yes, while unicorns may have become commonplace, we’re seeing several companies joining the decacorn club too. The past week was no different. Of course, we also saw some acquisitions, and news about companies planning their IPOs, among other things. So without any further ado, here’s everything that you need to know in the world of SaaS as per the last week’s happenings.
Table of Contents
News of the week
Tiger Global-backed B2B packaging platfom Bizongo acquihires edtech firm Hexa
Made-to-order platform Bizongo has announced the acquisition of Hexa, an ed-tech cloud platform for college placements. This is an acquihire to get Hexa’s team join Bizonogo as it looks to launch new products.
HR software group Justworks pulls IPO as tech stocks fall
Amidst all the boom in the industry, we’re also see not-so-positive public markets. Perhaps that explains why HR software Justworks has suspended its IPO plans.
SaaS fintech firm Zaggle kickstarts preparation to raise around $200-$250million via IPO
Aiming to become a “global digital bank”, Zaggle was started in 2011. It offers financial solutions, and helps companies and retailers in providing gifts and experiences to employees and customers. It’s reported to make a public debut, raising $200-$250million.
SaaS companies that got the funding this week
Fintech startup Checkout.com scores $40billion valuation in latest share sale
Checkout.com has become one of the most valued startups globally with its latest funding of $1billion. The investment was made by new investors like Franklin Templeton and Qatar Investment Authority along with existing investors such as Insight Partners and Tiger Global Management. Worth noting that payment processing software didn’t raise any funding till 2019. The funding will be used towards expanding into the US, and catering to cryptocurrency companies.
Fintech Brex confirms $12.3billion valuation, snaps up Meta exec to serve as its head of product
Brex has been on a tear, and that doesn’t seem to be stopping anytime soon. The provider of expense management software, as well as a corporate credit card, has now raised a $300million Series D-2 round that imputes a value of $12.3billion. The round was co-led by Greenoaks Capital and TCV. The company also highlighted that it has more than doubled its revenue.
Fresh round of $355million lifts online checkout company Bolt into decacorn territory
Another checkout technology company was in news in the last week – Bolt closed a $355million Series E investment. It was led by BlackRock, and values it at $11billion.
Sales enablement software Highspot has gotten $248million as part of a Series F round. Valuing the startup at $3.5billion, the investment was led by B Capital Group and D1 Capital Partners.
Workplace management platform Envoy nabs $111million to power the hybrid workforce
Visitor management platform Envoy has received $111million Series C financing. Led by Brookfield Growth, the round values the startup at $1.4billion.
Must reads
The SaaS bookings report | why it matters
Pricing transformations in 2022
Listen to
Bill Macaitis – SVP/CMO at Salesforce, Zendesk, and Slack – how to build a billion dollar SaaS company
Former SVP of Marketing and CMO at notable SaaS companies like Salesforce, Zendesk, and Slack shares in this podcast all about building a billion-dollar SaaS company. He also discusses how he managed to bring the B2C mindset to B2B marketing.
Proven leadership frameworks for a high-performing sales team with Databricks’ VP of sales Heather Akuiyibo
Running a high-performing sales team is easier said than done. In this podcast, Databricks’ VP of Sales Heather Akuyibo discusses frameworks that can help the sales team to succeed, which in turn helps revenue, and productivity goes up too.
Capturing a valuable market from the bottom up with Amjad Masad of Replit
With an easy-to-use online IDE, Replit is democratizing access to coding, so this podcast is a fascinating listen as to its strategy and more. Its founder Amjad Masad shares their bottoms-up motion, how he has learned the ropes of being a founder though he never planned to, and more.
Watch
Saas companies that anyone can start with Rob Walling
In this podcast-cum-video, MicroConf’s Rob Walling talks about SaaS business ideas that anyone can start easily. He also shares his journey and discusses why or why not one should sell their company.
