The earnings season continued this week as well, with the likes of Dropbox and Alibaba announcing their Q3 results. Of course, the past seven days also saw quite a few funding announcements. So, what are we waiting for? Let’s jump right in.
The Alphabet-owned company is continuing to make additions to its video conferencing software, Google Meet. The latest is the ability to replace the background, which comes just after the option to blur your background.
Popular cloud software provider Dropbox announced its Q3 results and was able to beat the analyst’s expectations. It achieved a revenue of $487.4million with its paying users being 15.25million, up from 14million users in Q3 last year.
While Alibaba’s Jack Ma is suffering a setback from the delayed IPO for Ant Group, his company Alibaba is staking a serious claim in the cloud market. The company disclosed revenues of more than $2billion from its cloud arm, making it a fourth contender surpassing IBM after Amazon, Microsoft, and Google.
Cloud-based POS provider Lightspeed is acquiring the New York-based cloud commerce provider ShopKeep. The deal is valued at $440million, and will help Lightspeed to establish a clear leadership in the US with the company projecting that it’ll process $33billion in gross transaction volumes.
SaaS companies that got the funding this week
We may not hear much about Chinese companies in the SaaS space often, they do grab our attention every now and then. Esign, an e-signature company, has announced a Series D funding round of $151million. It was led by the Shenzhen Capital Group and the Evergrande High-Tech Group, and the company will be using the amount for developing products and services, as well as expanding its business.
Just last week Vimeo had launched Vimeo Record, and now it has announced a significant funding of $150million. This suggests its intention of being spun-off from its parent company IAC as its pivot to being a enterprise-focused company is paying off. The company has also stated that it has over 1.5million paying subscribers and over 3,500 enterprise clients.
Chinese tech giant Tencent has invested in communications platform-as-a-service dubbed Zego. The startup has raised $50million is helped by Lin Youyao who spent 13 years at Tencent before leaving in 2015 to start Zego.
inRiver helps companies sell better by using augmented reality, video, 3D visuals, and more. Its Product Information Management (PIM) system helps manufacturers sell through distributors and online stores. The startup will also be using the funding to offer a analytics platform to manufacturers so that they can compare their sales.
Billed as data governance platform for enterprises, Odaseva has nabbed a $25milliuon funding led by Eight Roads Ventures. The startup helps companies in backing up and archiving their data, and will be using the money to expand the team.
Riding on the buzz of no-code and conversational intelligence, Ushur has finished a Series B funding round worth $25million. Led by Third Point Ventures, the company will use it accelerate its sales and marketing efforts.
Access management software StrongDM has received $17million Series A funding. The round was led by Sequoia Capital, and the startup highlights that it helps companies develop an intuitive interface so that employees can sign into resources easily.
Stensul makes it easier for companies to build marketing emails without requiring any developer efforts. It has now gotten $16million Series B funding led by USVP to expand its hiring.
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