The past week was quite eventful in the SaaS space. A lot of companies announced their quarterly reports, while we also saw an acquisition by Dropbox and as usual, quite a few funding announcements. Here’s what you may have missed in the world of SaaS.
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News of the week
Dropbox to acquire secure document sharing startup DocSend for $165million
Dropbox is a leading player in the cloud storage space, so it isn’t a surprise to see it acquiring DocSend, a document management software. DocSend has been in use by a lot of companies as well as VC firms to share documents with others in a secure manner, which is a natural extension to what Dropbox offers. DocSend has raised $15million in its lifetime, and this deal is pegged at $165million.
Related read: Interview with Russ Heddleston, CEO at DocSend
Talend sells to private equity firm Thoma Bravo in $2.4billion deal
PE firm Thoma Bravo has announced the plans of acquiring data integration provider, Talend. Thoma Bravo has a portfolio of tech companies such as Qlik and Flexera, and Talend would complement that. The firm is offering a 29 percent premium to Talend’s shareholders, and there’s a 30-day period for Talend to look for other acquisition offers.
Zapier acquires Makerpad; reaches $5billion valuation
Zapier has raised just $1.3million in its history and is a leading player in the no-code space. As per a report, its valuation reached $5billion when its initial investors participated in a secondary sale to Sequoia and Steadfast. The company also announced the acquisition of Makerpad, a website that provides educational content for people to know about the no-code tools.
Restaurant SaaS platform Olo sets terms for $306 million IPO
Olo, a SaaS-based platform for restaurants for online ordering and delivery management, plans to list 18million shares at a price range of $16 to $18. This would help the company raise $306million with a valuation of $3.1billion.
Oracle beats Q3 estimates with solid cloud ERP growth
Oracle, which’s moving towards the cloud from its legacy business, also saw noticeable revenue growth from its cloud ERP. While analysts were expecting $10.07billion in revenue, Oracle announced quarterly revenue of $10.09billion.
DocuSign shares rise as fiscal Q4 results, outlook top expectations
DocuSign, the leading player in the electronic signature software category, exceeded estimates with a revenue of $430.9million in the three months ended in January. For the year, it’s expecting a revenue between $1.963 to $1.973billion.
SAP subsidiary Qualtrics’s stock sags on first public quarterly report
Qualtrics, the company that went public in January this year after being hived off from SAP, released its first quarterly report. The Q4 revenue of $213.6million was in line with the expectations. For the full year, the company is expecting revenue in the range of $950 to $954million.
MongoDB shares rise on fiscal Q4 revenue, EPS that top expectations, revenue forecast higher as well
Database management software MongoDB’s Q4 results surpassed analysts’ estimates. The revenue in three months ended in January was $171million, up 38 percent y-o-y. The company expects a revenue of $745 to $765million for the entire year.
Asana shares pop 9 percent on record sales that top analyst estimates
Asana, a project management software, saw its revenue growth 57 percent year-on-year to $68.4million. Since the revenue topped analyst estimates, its shares also rose by 9 percent.
SaaS companies that got the funding this week
Automated testing software company Snyk has closed a funding round and secondary sale (via its employees) raising $300million in the process. The company is now valued at $4.7billion, and it’s believed to be its last round, before it goes public.
WorkFusion raises $220million to automate repetitive enterprise backend processes
Robotic Process Automation provider WorkFusion has closed a $220million Series F funding round led by Georgian Partners. The company stands out from its rivals by focusing on enterprise users in the banking and insurance industries.
Vendr raises huge $60million Series A as its SaaS-purchasing service scales
Vendr has announced a $60million Series A funding. The interesting thing is that the startup had raised just a $4million seed round in June 2020. Its CEO mentioned that the startup grew almost 5x last year.
This Pipe-ing hot startup just raised $50million to be the ‘Nasdaq for revenue’
Pipe has been a popular startup in the space as it allows SaaS companies to get money without dilution. It has now received $50million in strategic equity funding. Pipe also announced that it’ll now be open to any company with recurring revenue, such as D2C subscription companies, streaming services, etc. apart from the SaaS business.
Related read: Why is HubSpot investing in Pipe
Flatfile raises $35million in Series A funding led by Scale Venture Partners
Flatfile, a data onboarding software company, has gotten $35million Series A funding. Led by Scale Venture Partners, the company has now raised almost $45million in total.
Software delivery intelligence company LinearB has nabbed $16million funding as part of the Series A round. It lets companies connect their GitHub / GitLab / Bitbuckets accounts, and then connect their project management tools like Jira to provide automated alerts. The round was led by Battery Ventures.
Quizizz raises $12.5million in Series A to empower teachers around the world
EdTech startup Quizizz announced a Series A funding round worth $12.5million. Led by Eight Roads Ventures, the company has raised a little over $15million in total. The quiz platform grew exponentially amid COVID-19 and is being used by over a 60million people per month and is used in over 65 percent of the US schools.
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Listen to
From self funded startup to profitable unicorn. The Calendly journey with Tope Awotona & Blake Bartlett
For bootstrapping companies, Calendly is a huge success story. At the inception, it barely raised money ($350,000 to be exact), and then, in January this year, it announced a $350million Series B round. In this podcast, its founder Tope Awotona shares about he got started, the company’s evolution, and more.
Loomly: how we grew our SaaS to over 7000 customers – with Thibaud Clement
In this podcast, Loomly’s co-founder and CEO Thibaud Clement talks about how his company Loomly grew to over 7,000 customers. The company helps marketing teams with their social media communication and collaboration.
Be discoverable in a competitive space with Sabba Keynejad of VEED
This week’s podcast seems to be having a theme – companies that focused on product-led growth and without external funding. VEED is an online video editor, and in this episode, its founder Sabba Keynejad shares about how the company grew to $3million in ARR from $150k a little more than an year ago.
Watch
400 percent growth in 3 years: how we built a high-powered SaaS content marketplace with Verblio
Verblio is a SaaS marketplace company. The company grew 400 percent from 2016 when it has $2million ARR. In this video, its CEO Steve Pockross and Senior Director of Operations Zoe Treeson share how they grew by putting people and culture first, focusing on product in comparison to sales and marketing.
