Not just significant funding announcements, this week also saw some notable acquisitions in the space. So if you’re looking for all the major happenings in the SaaS world in one place, then read on.
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News of the week
Adobe to buy Frame.io, makers of video editing collaboration software, for $1.2billion
Photoshop maker Adobe has announced the acquisition of Frame.io, a platform for collaboration between video editors and producers. The deal has been valued at $1.275billion, and will help Adobe to integrate the features to its video editing tools like Premiere Pro and After Effects.
Cisco confirms acquisition of Israeli startup Epsagon
Networking giant Cisco is establishing itself as a leader in the observability space. It has acquired application monitoring company Epsagon in a deal that’s reported to be $500million.
Brex buys Weav, a universal API for commerce platforms, for $50million
Brex, a corporate credit card company that also offers expense management software, has purchased Weav, a developer of universal API for commerce platforms. Brex partnered with Weav in March for powering Instant Payouts for Shopify sellers and decided to purchase it for $50million after seeing its success.
Salesforce announces first integrations with Slack after closing $28billion sale
It was only a matter of time before CRM software Salesforce started bringing support for Slack via integrations. Salesforce Sales Cloud now has support for dedicated deal rooms so that the various teams can discuss together, whereas Service teams can huddle together in a room dubbed “swarm”.
SaaS companies that got the funding this week
Postman becomes most valued Indian SaaS startup after $225million funding
API management software Postman has raised $225million in Series D funding, becoming India’s most valuable SaaS startup, displacing BrowserStack. Led by Insight Partners, Postman is now valued at $5.6billion.
Automattic: funding, buyback, and hiring
The company behind WordPress, WooCommerce, and many more software, had received $288million in funding in the month of February. Since then, it has also made several acquisitions and investments, and that’s why it kept the fundraise in the wraps. Now, it has disclosed the same, along with mentioning that it recently did a $250million share buyback at an impressive $7.5billion valuation.
Sales enablement platform Seismic acquires Lessonly, nabs $170million
Seismic has closed a $170million Series G funding round led by Permira, JMI Equity, Lightspeed Venture Partners, and more. Valued at $3billion, the sales enablement platform also announced the acquisition of Lessonly, a corporate learning management system.
Enable bags $45million for B2B rebate management platform
Cloud-based B2B rebate management software Enable has raised a $45million Series B funding round. Led by Norwest Venture Partners, the UK-based company has raised a total of $62million till now.
Open-source business intelligence software Metabase has gotten a $30million Series B investment led by Insight Partners. The funding will be used to build a sales team and improve the product.
Stacker raises $20million Series A to help business units build software without coding
No-code platform Stacker has nabbed a $20million Series A funding. Led by A16z, the company will be using the amount to double its team size to 30 to 40 employees.
Element5 raises $15million Series A to help post-acute care spend less time on administrative work
Automation as a service (AaaS) provider Element5 has announced a $15million Series A round. The startup offers automated workflows for home-health, senior living, skilled nursing, and other allied healthcare verticals by using AI and RPA.
Must reads
Unpacking 2021’s unprecedented SaaS funding market
SaaS valuation tips for founders
Listen to
Interview with the founder of Carrd: going from bootstrapping to raising venture capital
Carrd has been a bootstrapping success, until recently where it got some funding. But the builder of the simple, one-page website builder software – AJ – has a ton of insights to share about his journey, how Carrd reached $1million ARR. He also shares why he eventually decided to take on venture capital funding.
Ben Jabbawy (Privy): App Store distribution
Privy, a Shopify app, has become one of the most popular software for Shopify sellers. In this episode, its founder Ben Jabbawy shares why distribution is important, and how that can be cracked using app stores.
Watch
BrowserStack’s journey as we scaled to a multimillion-dollar SaaS business
Among the most valued SaaS companies in India, automated testing software BrowserStack has come a long way. In this video, its co-founders Ritesh Arora and Nakul Aggarwal share their journey of how they built their team, challenges they faced, and more.
