The past week seemed like a funding blitzkrieg for the SaaS industry. We saw several companies raising significant investments to grow faster. All that and more in the latest edition of the SaaS weekly roundup.

News of the week

Plaid buys Cognito as it moves beyond merely connecting accounts

Last year, Plaid was being acquired by Visa. While the deal was called off due to regulatory issues, the API tool that connects to people’s bank accounts is showing how it’s charting its future path. It has announced the acquisition of Cognito, which offers verification services. The deal is pegged at $252million as a mix of cash and stock.

SaaS companies that got the funding this week

Remote work and cloud adoption lands 1Password with $620M Series C, now valued at $6.8B

If you think only new-age companies are raising big bucks, then you couldn’t be more wrong. 1Password – a leading player in the password manager space – has gotten $620million Series C funding. Led by Iconiq Growth, the round values the company at $6.8billion. With the amount, the company will be doubling down on hiring, building its Events API, and looking for acquisitions.

6Sense reaches $5.2billion value with SoftBank joining round

6Sense is a software that helps companies with sales and marketing. It has received a $200million investment that more than doubles its valuation to $5.2billion. Co-led by Blue Owl and MSD Partners, the company will be spending the money on hiring and expanding to more geographies.

Lattice raises $175M at a $3B valuation for its people management platform

Employee performance management software Lattice has trebled its valuation to $3billion with its latest fundraise of $175million. The Series F investment values the startup at $3billion and was led by Thrive Capital, Elad Gil, Tiger Global, and Dragoneer.

Ironclad reaches $3.2billion valuation in race to build software for business contracts

Contract lifecycle management software Ironclad has closed a $150million Series E funding round. Led by Franklin Templeton, the startup is now valued at $3.2billion.

Spendesk valued at $1.5billion after latest funding round 

Expense management software Spendesk has raised $114million in funding just six months after raising the same amount. Its valuation has now increased to $1.5billion, and it’ll be utlizing the investment towards hiring. The round was led by Tiger Global with existing investors also participating.

Women-led Spekit raises $45million to help remote teams train employees

Digital Adoption Platform software Spekit has closed Series B investment worth $35million. Its USP is that it creates custom turnkey guides for its clients so that they can train their employees easily. The startup will be using the money for R&D, and building out its data science team.

Contact centre software startup SaaS Labs raises $42million to launch innovative products

Soon after raising $18million in funding in November, SaaS Labs – makers of several SaaS offerings – has closed a $42million Series B investment. Led by Sequoia Capital India, the startup will be utilizing the investment for launching more products, and acquiring companies too. Currently, it has three products on offer – Justcall, CallRoot, and Helpwise. It also announced the acquisition of two European startups – CallPage and Atolia.

Related read: Interview with Sandeep Gaur, International Business Manager at JustCall

South Korean HR automation platform flex raises $32M Series B at a $287M valuation 

It’s evident that the SaaS movement is taking over the world. That’s why it’s not really surprising to see South Korea’s HR platform flex managing to pique investor interest. It has nabbed a $32million Series B round. Led by Greenoaks, flex is now valued at $287million.

Must reads

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The new user journey: follow your users to understand how to excel at go-to-market

Listen to

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Vimeo has managed one of the most impressive pivots in recent times… from having a B2C focus to becoming enterprise-oriented. In this podcast, its CEO Anjali Sud shares her learnings of taking the company public and how it’s taking bets on the future.

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