As the week is ending, we have gotten a ton of news, fundraising announcements, and more for you to unpack in the always-buzzing world of SaaS. So without wasting any more time, let’s get going.
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News of the week
Adobe Q2 a mixed bag as revenue falls short of estimates
Adobe is the latest company to announce its quarterly results, and it mentioned that the subscription revenue increased to $2.87billion. Out of this, Creative Cloud accounted for $1.87billion, Document Cloud’s revenue was $360million totaling up to $2.23billion, whereas the Digital Experience Segment’s revenue was $826million.
Cloud data firm Snowflake confidentially files for IPO
It was just in February that cloud data platform Snowflake raised $479million at a valuation of $12.4billion. Now as per a report, the California-based company has filed for its initial public offering with SEC.
Acceleprise announces 26 SaaS startups from its trio of accelerators
Accelprise, a startup accelerator focusing specifically on the SaaS vertical, has announced its latest cohort of 26 companies. Its three accelerators are set up in San Francisco, New York, and Toronto, and includes startups like BurnRate, OneBar, and Touchbase, among others.
MongoDB stitching the cloud and edge together
Database management software MongoDB recently held its online conference, where it made a bunch of announcements. It also disclosed that its cloud service, Atlas, comprises 42 percent of the overall business. For enhancing it further, it has introduced features such as automated archiving, an “autopilot” feature that can recommend changes to the underlying schema, and more. In the new MongoDB 4.4, users will find better query capabilities.
SaaS companies that got the funding this week
Postman’s Series C funding and the future of APIs
API management software Postman is the latest unicorn from India as it has raised Series C funding worth $150million. The round was led by Insight Partners and gives it a valuation of $2billion. Today, over 11million developers and 500,000 companies use the company’s API platform. The funding will be used to expand further and hiring.
Related tweet: https://twitter.com/therealjpk/status/1269874614013882368
Yugabyte raises $30million for its cloud-native distributed SQL database
Yugabyte, an open-source cloud management platform, has garnered $30million Series B funding. Led by 8VC, the round will help the company meet the increasing demand for its database, Yugabyte DB, which supports both SQL and NoSQL capabilities.
Kahoot raises $28M for its user-generated educational gaming platform, now valued at $1.4billion
With online learning becoming commonplace amidst the ongoing crisis, gamification software Kahoot is also seeing a surge in its usage. To keep up with the growth, it has gotten $28million, along with raising $62million in secondary shares.
Nexus Venture Partners leads $18million Series A in Jiffy.ai
Enterprise automation software Jiffy.ai has closed an $18million Series A funding round. Nexus Venture Partners led the funding, and the company will be using the investment to expand further as well as upskill the workforce who have lost their jobs due to automation through its foundation dubbed Paanini.
Concourse Labs raises $15.2million in Series A funding led by ForgePoint Capital
With everything related to cloud growing at a fast clip, its governance is equally important. That’s what Concourse Labs, which came out of stealth recently aims to do. To accelerate its product development, marketing efforts, and more, it has received $15.2million funding.
Spike raises $8million to make your email look like a chat app
Spike is aiming to modernize emails by making them look like chats itself. But that’s not all, it also turns emails into task management apps, note creation, and more. Along with the launch, the startup also announced its $8million Series A funding, which was led by Insight Partners.
Must reads
A look back at Q1 public SaaS earnings
Google Meet noise cancellation is rolling out now — here’s how it works
Building blocks of an efficient SaaS finance operations team
CIOs from LogMeIn, Vonage and more share how their role has changed in the downturn
SaaS Talks: Interview with Niraj Ranjan Rout, Co-founder and CEO at Hiver
Listen to
The power of analytics in times of crisis – and beyond with Amir Orad, Sisense
Business intelligence software Sisense has over 800 employees worldwide and has breached the $100million ARR mark. In this podcast, its CEO, Amir Orad shares why business intelligence is important for companies of all sizes, and not just enterprises. He also discusses how BI tools can help companies in planning, be it for short- or long-term.
How Datadog generates over half a billion in revenue with their product-led go-to-market strategy
Datadog is one of the leading application performance monitoring software, and it has grown by focusing on the product-led growth strategy. Its VP of Marketing, Alex Rosemblat explains how it manages to connect to individual developers as well as tech executives at the same time.
What radical transparency truly means and how to implement it and enterprise adoption of cloud during COVID times with David Politis, founder & CEO @ BetterCloud
David Politis, founder and CEO of BetterCloud, a SaaS management platform, talks about his journey into the world of SaaS, the evolution of the SaaS industry. He also discusses what he thinks about the cloud adoption by enterprises, how BetterCloud has achieved radical transparency, how they implement OKRs in the company, and more.
Watch
How to rock your SaaS customer support without adding to your team
If you’re wondering how you enhance your customer support, then this video by Dan Martell is a must-watch. The best way to do that according to him is to build a comprehensive knowledge base for the support team.
