There’s never a dull moment in the world of SaaS – and the SaaS weekly roundup continues to prove that. This week, we have some major updates to popular SaaS offerings, huge funding rounds, and more. So here’s everything that you may have missed and deserves your attention.
Table of Contents
News of the week
Otter.ai adds AI-generated meeting summaries and new home feed
When it comes to transcriptions, Otter.ai has become a force to be reckoned with. But it doesn’t want to be limited to that. It’s introducing several new features such as AI-generated meeting summaries, the ability to jump into the meetings, and more. Users will also be able to see “meeting gems”, which are the parts of the transcript that are highlighted by others.
Updates for Google Workspace
Search engine giant’s Workspace team was particularly busy last week. They introduced a bunch of new features that will be appreciated by users. First up is the ability to write the Markdown text in Google Docs, which is popular among writers and developers as it can apply formatting using plain text. Next is the ability to block someone’s calendar as per their availability on Google Calendar, ala Calendly.
Lastly, Google Meet also got some updates, including the encryption options for videos and integrating Meet videos directly into Google Docs, Sheets, and Slides.
SaaS companies that got the funding this week
Builder.ai raises $100M Series C led by Insight Partners to scale up its software automation
No-code / low-code software building platform, Builder.ai has closed a $100million Series C investment. Led by Insight Partners, the startup highlighted that its revenue has increased 300 percent, and has launched a conversational AI dubbed “Natasha”.
Related read: Interview with Sachin Dev Duggal, CEO and Co-Founder at Builder.ai
India’s Classplus raises $70 million to help teachers and creators expand their reach
India-based Classplus helps teachers and creators in operating, managing, and selling their courses to students. It has received $70million Series D investment that values it at $570million. Co-led by Alpha Wave Global and Tiger Global, the financing will be utilized towards going into smaller Indian cities, expanding its product offerings, and going to international markets like Singapore, Vietnam, and Malaysia.
Related read: Interview with Mukul Rustagi, Co-founder and CEO at Classplus
LambdaTest raises $45 million to build ‘AWS for testers’
Automated testing software LambdaTest offers users the ability test their websites and apps on over 3,000 different browsers, operating systems, devices, and more. It has received $45million in Series C round led by Premji Invest.
With new funding, Athennian hopes to follow in Clio’s unicorn footsteps
Legal-tech startup Athennian has received $41.5million CAD (~33.2million USD). It witnessed five-fold increase in revenue since 2020, and is aiming to reach $100million in ARR.
Wing Security launches its end-to-end SaaS security platform, raises $26million
Aiming to be a comprehensive SaaS security platform, Wing Security has come out of stealth while announcing a $20million Series A funding round. Led by GGV Capital, Wing Capital takes care of all SaaS security needs by identifying various apps and prioritizing risks that should be taken care of.
Must reads
SaaS metrics every startup founder should know
How enterprise search giant Algolia embraced usage-based SaaS pricing
Recruiting is now a race for talent. Software companies hope to help HR keep up.
Databricks vs Snowflake: The race to build one-stop-shop for your data
Listen to
Katrina Wong – VP Product Marketing at Segment-Twilio – how to map out an effective growth strategy?
Growth strategy has become an important aspect for SaaS companies of all sizes. In this episode, Twilio Segment’s Katrina Wong discusses what is it, how different-stage companies can implement it, and common mistakes to avoid, among others.
Building with a long-term mindset with Sashi Narahari of HighRadius
In this podcast, HighRadius’ Sashi Narahari shares his journey to the world of SaaS, and how he ventured into the finance software space. He also talks about why they bootstrapped for 11 years before raising money and becoming a unicorn.
The LinkSquares playbook: $1million to $10million ARR in Two Years, with Vishal Sunak
Contract management platform LinkSquares reached $10million in annual recurring revenue within two years. Its co-founder and CEO Vishal Sunak shares his journey, how they find the product-market fit, and how they raised funding.
Watch
The convergence of product led growth, SaaS and Customer Data Platforms
In this video, Funnel Ventures’ Audry Melnik highlights that if one wants to focus on product-led growth, then they need to leverage customer data platforms. She provides a walkthrough of the customer journey optimization methodology that brings these two things together.
