{"id":10469,"date":"2022-05-17T20:43:07","date_gmt":"2022-05-17T15:13:07","guid":{"rendered":"https:\/\/www.saasworthy.com\/blog\/?p=10469"},"modified":"2022-05-17T20:55:39","modified_gmt":"2022-05-17T15:25:39","slug":"saas-weekly-roundup-20-zoom-acquires-solvvy-paddle-raises-200million-and-more","status":"publish","type":"post","link":"https:\/\/www.saasworthy.com\/blog\/saas-weekly-roundup-20-zoom-acquires-solvvy-paddle-raises-200million-and-more","title":{"rendered":"SaaS weekly roundup #20: Zoom acquires Solvvy, Paddle raises $200million, and more"},"content":{"rendered":"\n<p>The bloodbath in the market continues&nbsp;\u2013&nbsp;affecting SaaS companies too. Companies like <a href=\"https:\/\/www.saasworthy.com\/product\/uipath-rpa\" target=\"_blank\" rel=\"noreferrer noopener\">UiPath<\/a>, Marqeta, and <a href=\"https:\/\/www.saasworthy.com\/product\/toast\" target=\"_blank\" rel=\"noreferrer noopener\">Toast<\/a> have <a href=\"https:\/\/www.cnbc.com\/2022\/05\/09\/techs-latest-ipos-fall-with-robinhood-rivian-uipath-down-over-70percent.html\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"ek-link\">lost 65 percent of their value<\/a>. Many organizations are also scrapping their plans of going public. But that doesn&#8217;t mean that there&#8217;s no action in this space. So here&#8217;s everything that deserves your attention in the world of SaaS.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_17 counter-hierarchy counter-decimal ez-toc-grey\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.saasworthy.com\/blog\/saas-weekly-roundup-20-zoom-acquires-solvvy-paddle-raises-200million-and-more\/#News_of_the_week\" title=\"News of the week\">News of the week<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.saasworthy.com\/blog\/saas-weekly-roundup-20-zoom-acquires-solvvy-paddle-raises-200million-and-more\/#SaaS_companies_that_got_the_funding_this_week\" title=\"SaaS companies that got the funding this week\">SaaS companies that got the funding this week<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.saasworthy.com\/blog\/saas-weekly-roundup-20-zoom-acquires-solvvy-paddle-raises-200million-and-more\/#Must_reads\" title=\"Must reads\">Must reads<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.saasworthy.com\/blog\/saas-weekly-roundup-20-zoom-acquires-solvvy-paddle-raises-200million-and-more\/#Listen_to\" title=\"Listen to\">Listen to<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.saasworthy.com\/blog\/saas-weekly-roundup-20-zoom-acquires-solvvy-paddle-raises-200million-and-more\/#Watch\" title=\"Watch\">Watch<\/a><\/li><\/ul><\/nav><\/div>\n<h2 id=\"news-of-the-week\" class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"News_of_the_week\"><\/span>News of the week<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/techcrunch.com\/2022\/05\/13\/zoom-dives-deeper-into-intelligent-customer-service-with-solvvy-acquisition\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Zoom dives deeper into intelligent customer service with Solvvy acquisition<\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.saasworthy.com\/list\/video-conferencing-software\" target=\"_blank\" rel=\"noreferrer noopener\">Video conferencing software<\/a> <a href=\"https:\/\/www.saasworthy.com\/product\/zoom\" target=\"_blank\" rel=\"noreferrer noopener\">Zoom<\/a> has been trying to diversify. Its latest step in that direction is the acquisition of <a href=\"https:\/\/www.saasworthy.com\/product\/solvvy\" target=\"_blank\" rel=\"noreferrer noopener\">Solvvy<\/a> which focuses on conversational AI. This will help Zoom improve its Contact Center offering.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.theverge.com\/2022\/5\/11\/23065048\/google-webcam-ai-workspace-portrait-lighting-io\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Google\u2019s trying to fix your crappy webcam with great AI<\/strong><\/a><\/p>\n\n\n\n<p>The annual Google I\/O was held earlier last week, when the internet giant made several announcements. While most of them were consumer-centric, it also announced some improvements to its Workspace suite. Chief among them is Portrait Restore which improves and sharpens your image on a Google Meet call. Then there&#8217;s Portrait Lighting which provides AI-based controls to adjust the lighting.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.reuters.com\/technology\/palantir-q2-revenue-forecast-below-estimates-expects-ukraine-war-boost-growth-2022-05-09\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Palantir profit miss, downbeat revenue forecast send shares tumbling<\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.saasworthy.com\/product\/palantir-foundry\" target=\"_blank\" rel=\"noreferrer noopener\">Palantir<\/a> announced its first-quarter results where it achieved revenue of $446.4million, slightly above analyst expectations. However, it forecasted a lower revenue for the second quarter, which resulted in its share prices tumbling down by 15 percent.<\/p>\n\n\n\n<h2 id=\"saas-companies-that-got-the-funding-this-week\" class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"SaaS_companies_that_got_the_funding_this_week\"><\/span>SaaS companies that got the funding this week<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/www.prnewswire.com\/in\/news-releases\/hr-path-receives-eur225-million-in-financing-866725563.html\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>HR Path receives \u20ac225million in financing<\/strong><\/a><\/p>\n\n\n\n<p>HR software HR Path has raised \u20ac225million (~$236million) funding led by Andera Partners. The Paris-based company is aiming to double its turnover within five years as it expands its geographical presence.<\/p>\n\n\n\n<p><a href=\"https:\/\/venturebeat.com\/2022\/05\/09\/saas-payments-infrastructure-company-paddle-raises-200m\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>SaaS payments infrastructure company Paddle raises $200million<\/strong><\/a><\/p>\n\n\n\n<p>Payment infrastructure provider <a href=\"https:\/\/www.saasworthy.com\/product\/paddle\" target=\"_blank\" rel=\"noreferrer noopener\">Paddle<\/a> has closed a $200million Series D funding round. The company takes care of everything related to payments, from billing to subscription management, tax and compliance, invoicing, and more. The fund infusion was led by KKR and values Paddle at $1.4billion.<\/p>\n\n\n\n<p><a href=\"https:\/\/techcrunch.com\/2022\/05\/12\/gusto-raises-an-extension-round-following-faire-as-unicorns-react-to-a-changing-market\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Gusto raises an extension round, following Faire as unicorns react to a changing market<\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.saasworthy.com\/list\/payroll-software\" target=\"_blank\" rel=\"noreferrer noopener\">Payroll software<\/a> <a href=\"https:\/\/www.saasworthy.com\/product\/gusto\" target=\"_blank\" rel=\"noreferrer noopener\">Gusto<\/a> has extended its Series E round from 2021 by securing around $55million as per the reports. It\u2019s worth noting that extending the round signifies that Gusto raised the money as the same valuation as the last year&nbsp;\u2013 $10billion.<\/p>\n\n\n\n<p><a href=\"https:\/\/techcrunch.com\/2022\/05\/09\/business-intelligence-and-analytics-firm-pyramid-analytics-raises-100m\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Business intelligence and analytics firm Pyramid Analytics raises $120million<\/strong><\/a>&nbsp;<\/p>\n\n\n\n<p>BI or business intelligence is becoming more important than ever, so it&#8217;s not surprising to see the space seeing a lot of competition. Pyramid Analytics has nabbed a $120million investment as part of the Series E round. Co-led by H.I.G. Growth Partners, Clal Insurance Enterprises Holdings, and General Oriental, the company is nearing the unicorn valuation.<\/p>\n\n\n\n<p><a href=\"https:\/\/techcrunch.com\/2022\/05\/10\/sirionlabs-lands-85m-to-inject-contract-management-with-automation\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>SirionLabs lands $85million to inject contract management with automation<\/strong><\/a>&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.saasworthy.com\/list\/contract-management-software\" target=\"_blank\" rel=\"noreferrer noopener\">Contract Lifecycle Management (CLM) software<\/a> <a href=\"https:\/\/www.saasworthy.com\/product\/sirionlabs\" target=\"_blank\" rel=\"noreferrer noopener\">SirionLabs<\/a> has received $85million in Series D financing. Led by Partners Group, the company aims to increase its employee base by the end of this year with the latest funding.<\/p>\n\n\n\n<p><em>Related read: <\/em><a href=\"https:\/\/www.saasworthy.com\/blog\/interview-with-aditya-gupta-chief-architect-and-co-founder-sirionlabs\" target=\"_blank\" aria-label=\"Interview with Aditya Gupta, Chief Architect and Co-founder at SirionLabs (opens in a new tab)\" rel=\"noreferrer noopener\" class=\"ek-link\">Interview with Aditya Gupta, Chief Architect and Co-founder at SirionLabs<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.axios.com\/2022\/05\/11\/deel-venture-capital-funding\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Scoop: Deel raises funds at $12billion valuation<\/strong><\/a><\/p>\n\n\n\n<p><em>Axios<\/em> reports that remote hiring startup <a href=\"https:\/\/www.saasworthy.com\/product\/deel\" target=\"_blank\" rel=\"noreferrer noopener\">Deel<\/a> has more than doubled its valuation from $5.5billion with its latest funding round of $50million. New investors in the company include Emerson Collective.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.prnewswire.com\/in\/news-releases\/covergo-raises-15-million-series-a-to-expand-global-adoption-of-the-leading-no-code-insurance-platform-874469165.html\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>CoverGo raises $15million Series A to expand global adoption of the leading no-code insurance platform<\/strong><\/a><\/p>\n\n\n\n<p>No-code SaaS insurance platform CoverGo got a $15million investment as part of its Series A funding. The platform helps insurance companies to launch new insurance products within days along with developing their distribution and claim process.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">As <a href=\"https:\/\/twitter.com\/segment?ref_src=twsrc%5Etfw\">@Segment<\/a> grew from 0 to &gt;$200M ARR, I had three health scares. Each scare made me realize that good physical health is *required* to push hard and win as a founder, and you have to own your own healthcare. The medical system simply won\u2019t do it for you. \/1<\/p>&mdash; Peter Reinhardt (@reinpk) <a href=\"https:\/\/twitter.com\/reinpk\/status\/1526177901644681218?ref_src=twsrc%5Etfw\">May 16, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 id=\"must-reads\" class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Must_reads\"><\/span>Must reads<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>India focus: how SaaS is proliferating in the subcontinent<\/strong><\/p>\n\n\n\n<p>Last week, Forbes India magazine came out with its special <a href=\"https:\/\/www.forbesindia.com\/saas-rising\/2053\/1\" target=\"_blank\" rel=\"noreferrer noopener\">SaaS Rising<\/a> series, covering the leading players and emerging startups from the country. The coverage gives a good understanding of how <a href=\"https:\/\/www.forbesindia.com\/article\/take-one-big-story-of-the-day\/superstar-villain-and-freshworks-how-girish-mathrubootham-is-fighting-the-brutal-tech-meltdown\/76329\/1\" target=\"_blank\" rel=\"noreferrer noopener\">Freshworks is embracing the current downturn<\/a>, <a href=\"https:\/\/www.forbesindia.com\/article\/saas-rising\/how-unicorn-browserstack-became-a-profitable-100-million-indian-saas-company\/76223\/1\" target=\"_blank\" rel=\"noreferrer noopener\">how BrowserStack became profitable<\/a>, and <a href=\"https:\/\/www.forbesindia.com\/article\/saas-rising\/emerging-indian-saas-leaders-darwinboxs-jayant-paleti-chaitanya-peddi-and-rohit-chennamaneni\/76231\/1\" target=\"_blank\" rel=\"noreferrer noopener\">new-age companies like Darwinbox<\/a> and <a href=\"https:\/\/www.forbesindia.com\/article\/saas-rising\/emerging-indian-saas-leaders-hasuras-rajoshi-ghosh-and-tanmai-gopal\/76225\/1\" target=\"_blank\" rel=\"noreferrer noopener\">Hasura<\/a>, among other things.<\/p>\n\n\n\n<p><a href=\"https:\/\/economictimes.indiatimes.com\/tech\/startups\/need-for-arr-based-valuation-amid-unicorn-hype-says-bvp-report\/articleshow\/91579266.cms\" target=\"_blank\" rel=\"noreferrer noopener\">Need for ARR-based valuation amid unicorn &#8216;hype,&#8217; says BVP report<\/a><\/p>\n\n\n\n<h2 id=\"listen-to\" class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Listen_to\"><\/span>Listen to<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Fleetio: how a solo founder built an 8-figure SaaS business &#8211; with Tony Summerville<\/strong><\/p>\n\n\n\n<iframe src=\"https:\/\/www.listennotes.com\/podcasts\/the-saas-podcast\/317-fleetio-how-a-solo-IubaVyW_rxg\/embed\/\" height=\"170px\" width=\"100\\%\" style=\"width: 1px; min-width: 100\\%;\" loading=\"lazy\" frameborder=\"0\" scrolling=\"no\"><\/iframe>\n\n\n\n<p><a href=\"https:\/\/www.saasworthy.com\/list\/fleet-management-software\" target=\"_blank\" rel=\"noreferrer noopener\">Fleet management software<\/a> <a href=\"https:\/\/www.saasworthy.com\/product\/fleetio\" target=\"_blank\" rel=\"noreferrer noopener\">Fleetio<\/a> helps in automating fleet operations. In this podcast, its founder and CEO Tony Summerville share his journey into the world of SaaS, what makes Fleetio different, and how he has been able to scale it up to millions of ARR.<\/p>\n\n\n\n<p><strong>Positioning masterclass with April Dunford (bestselling author and marketing guru)<\/strong><\/p>\n\n\n\nPositioning masterclass with April Dunford (bestselling author and marketing guru)\n<iframe src=\"https:\/\/www.listennotes.com\/podcasts\/the-startup-operator\/ep-172-positioning-veOo2-gS0bI\/embed\/\" height=\"170px\" width=\"100\\%\" style=\"width: 1px; min-width: 100\\%;\" loading=\"lazy\" frameborder=\"0\" scrolling=\"no\"><\/iframe>\n\n\n\n<p>April Dunford, the author of Obviously Awesome, is known for helping companies figure out their positioning. In this episode, she discusses all about positioning, what people get wrong about it, how to highlight salient features of the products, and how to do it correctly in different geographies.<\/p>\n\n\n\n<p><strong>Yaw Aning (Malomo): services founder vs. SaaS founder<\/strong><\/p>\n\n\n\n<iframe src=\"https:\/\/www.listennotes.com\/podcasts\/build-with-blake\/yaw-aning-malomo-services-TAtgBqdhv4E\/embed\/\" height=\"170px\" width=\"100\\%\" style=\"width: 1px; min-width: 100\\%;\" loading=\"lazy\" frameborder=\"0\" scrolling=\"no\"><\/iframe>\n\n\n\n<p>There are several case studies of SaaS startups emerging from an agency business. Malomo is no different, as it was building apps for its clients. It decided to address the problems faced by its e-commerce clients and selling to them first helped it gain validation for the product-market fit. Listen to its co-founder and CEO about his journey to Malomo.<\/p>\n\n\n\n<h2 id=\"watch\" class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Watch\"><\/span>Watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>State of the cloud 2022<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"State of the Cloud 2022\" width=\"788\" height=\"443\" src=\"https:\/\/www.youtube.com\/embed\/8Vt099q1lkA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Bessemer Venture Partners&#8217; State of the Cloud report has become an annual tradition as it packs a ton of insights about the fast-paced SaaS industry. Watch (or if you prefer slideshows, <a href=\"https:\/\/www.slideshare.net\/BessemerVP\/state-of-the-cloud-2022\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"ek-link\">check that here<\/a>) the video to see why the cloud still holds so much promise, how software-as-a-service is evolving, why valuations aren&#8217;t the best way to measure successful companies, and more.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bloodbath in the market continues&nbsp;\u2013&nbsp;affecting SaaS companies too. Companies like UiPath, Marqeta, and Toast have lost 65 percent of their value. Many organizations are also scrapping their plans of going public. But that doesn&#8217;t mean that there&#8217;s no action in this space. So here&#8217;s everything that deserves your attention in the world of SaaS.<\/p>\n","protected":false},"author":3,"featured_media":10470,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":3,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-10469","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-saas-weekly-roundup"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SaaS weekly roundup #20: Zoom acquires Solvvy, Paddle raises $200million, and more - SaaSworthy Blog | Top Software, Statistics, Insights, Reviews &amp; Trends in SaaS<\/title>\n<meta name=\"description\" content=\"The bloodbath in the market continues&nbsp;\u2013&nbsp;affecting SaaS companies too. Companies like UiPath, Marqeta, and Toast have lost 65 percent of their\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.saasworthy.com\/blog\/saas-weekly-roundup-20-zoom-acquires-solvvy-paddle-raises-200million-and-more\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SaaS weekly roundup #20: Zoom acquires Solvvy, Paddle raises $200million, and more - SaaSworthy Blog | Top Software, Statistics, Insights, Reviews &amp; Trends in SaaS\" \/>\n<meta property=\"og:description\" content=\"The bloodbath in the market continues&nbsp;\u2013&nbsp;affecting SaaS companies too. 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