If you think funding for SaaS companies is drying up, then you should take a look at our regularly-updated SaaS companies that got the funding post. And the past week is no different. Startups operating in the space have got significant investments. A lot more happened in the past few days, which is what we’ll talk about today.
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News of the week
Twilio shares off 13%: We had a terrific Q3, I’m more excited than ever,’ says CFO
Twilio, a leading cloud communications company, has surpassed analysts’ expectations with its Q3 numbers. Its revenue grew by 65 percent to $740.2million (vs its own expectation between $670- to $680million and analysts’ expectation of $681million). What’s even more impressive is its Net Expansion Rate of 131 percent.
Software services firm Zendesk to buy SurveyMonkey parent for nearly $4 bln
Popular helpdesk software Zendesk has announced the acquisition of SurveyMonkey, a renowned name in the survey software category. The all-stock deal has been pegged at nearly $4billion. It’s the biggest acquisition by Zendesk and is expected to close in the first half of 2022.
SaaS companies that got the funding this week
SoftBank leads $312million Series D round for Chinese smart retail SaaS provider Huice
Chinese SaaS company Huice providing smart retail solutions has raised $312million in Series D funding. Led by SoftBank Vision Fund 2, the company aims to expand its technology and service team with the investment.
ClickUp, an all-in-one platform for project management, document collaboration, and more, has raised a single-biggest Series C funding in the form of a $400million investment. Co-led by A16z and Tiger Global, the San Diego-based company is now valued at $4billion.
‘AWS for blockchain’ Alchemy boosts valuation to $3.5billion with $250million raise
It was just April when Alchemy – which defines itself as AWS for blockchain – had raised $80million. Now it has nabbed $250million Series C funding which values it at $3.5billion.
Open-source distributed SQL provider Yugabyte has nabbed $188million in funding, making it a unicorn with a $1.3billion valuation. The Series C round was led by Sapphire Ventures.
Low-code workflow management startup Pipefy has received $75million as part of a Series C investment. The amount will help it for global expansion and hire people for developing the product and its GTM strategy.
Fellow raises $24million; wants you to enjoy going to meetings again
Fellow, a meeting management software, has got $24million in Series A funding. Led by Craft Ventures, the fund infusion will be used towards product development, building infrastructure, and hiring across various domains.
Related read: Interview with Aydin Mirzaee, CEO and Co-founder at Fellow.app
Must reads
How a corporate lawyer and a finance guy ditched the rat race to build a $750million barbershop app
The nimble Indian SaaS startups are all set for the global game
Listen to
Sales acceleration formula 2.0
Mark Roberge, Managing Director at Stage 2 Capital discusses his updated sales acceleration formula in this podcast. He talks about things that one should focus on to accelerate sales.
Beyond product-led growth, 7 lessons learned in product-led scaling with Dropbox’s GM
PLG, or product-led growth, has become a well-known GTM strategy. But what about putting the pedal to the metal and scaling this approach? That’s what this podcast talks about with Dropbox’s Rachel Wolan sharing her lessons from Dropbox and previous stints at LiveRamp and TalkDesk.
Watch
The SaaS org chart by Series with David Sacks, Co-founder and General Partner at Craft Ventures
Hiring is one of the most important things for a company. In this video, Craft Ventures’ David Sacks takes one through about what roles one should hire for depending upon the phase (read funding cycle) of the company.
