S|W: The SaaS Weekly – WellnessLiving, Kinaxis expands as Martello cuts spending
Plus: Layoffs at SaaS startups are piling up.
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WellnessLiving secures $66 million to scale operations management software for wellness centers (BETAKIT)
Founded in 2013 by Len Fridman and Sasha Davids, Wellness Living’s membership management software provides businesses with an integrated payment platform and allows operators to schedule classes and appointments, manage staff, process payments and interact with their members.
Unity Rejects AppLovin’s $17 Billion Hostile Takeover (VENTUREBEAT)
Unity CEO John Riccitiello said in a statement, “The Board of Directors continues to believe that the IronSource transaction is compelling and will provide an opportunity to drive long-term value through the creation of a -unique end-to-end form that allows creators to develop, publish, run, monetize and develop live games and real-time 3D content seamlessly. We remain committed and excited about the agreement between Unity and IronSource and the substantial benefits it will create for our shareholders and the creators of Unity.
Attractions management software startup Connect&Go closes Series A round with $6.2M top-up (BETAKIT)
This recent financing includes $5 million (all in CAD figures) from Financière Outremont as well as two existing investors, Carey and Gestal. The new round also includes $1.2 million in debt from new investor Finalta Capital.
Kinaxis Hires, Raises Forecast and Expands Through Acquisitions Amid Tech Sector Struggles (THE GLOBE AND THE MAIL)
The Ottawa-based supply chain management software company is growing revenue at a steady pace, hiring hundreds of people and raising its financial guidance twice this year, including last week when it announced second quarter results that exceeded analysts’ expectations. While shares of fellow Canadian software companies Shopify Inc. and Nuvei Corp. fell more than 40% in a brutal year for tech stocks, Kinaxis was down just 6.5% in 2022.
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Venture capital investment returns to pre-pandemic levels, according to the CVCA report for the second quarter of 2022 (BETAKIT)
The economic downturn is leading to investing themes that resemble early 2020, when investors were cautiously deploying capital and focusing on their existing portfolio companies.
‘We need to be more focused’: Martello cuts 15% of its workforce in a bid to become cash flow positive (OTTAWA BUSINESS JOURNAL)
The staff cuts – which CEO John Proctor says will affect all departments – are part of a company-wide effort to cut overall company spending by 20%, or about $4 million. dollars per year.
Moozoom raises $5 million to improve youth mental health with social-emotional learning videos (BETAKIT)
“I saw the problem [and] I saw a business opportunity that would meet my need [to] do something bigger than me and help millions of children,” said CEO JP Turgeon.
Venue raises $4M from Accel and the CEOs of Slack, Remote and SquareSpace to breathe new life into team-wide video meetings (TECHCRUNCH)
A startup called Venue is preparing its booth to compete with a video conferencing platform that brings a host of customizations and other features from consumer communication apps to make it more appealing.
Direct-C Closes $3.9M Series A from Henkel and GreenSky to Scale Oil Leak Detection Technology (BETAKIT)
Getting a business partnership deal with a big company by a technology company is quite difficult,” Adrian Banica, CEO and CTO of Direct-C, told BetaKit in an interview, expressing his excitement at having Henkel on board. “It’s a long road.”
How startups can survive a market downturn (BETAKIT)
Katy Yam, Partner at Real Ventures and Managing Director of Founder Fuel, Peter Fishman, Co-Founder and CEO of Mozart Data, and Ethan Ruby, Analytics Partner at Craft Ventures, all discussed how the right data can help leaders in startups to make survival decisions in a downturn.
VidMob, which makes software for marketers, raises $110 million (THE WALL STREET JOURNAL)
Founded in 2014, New York-based VidMob says its software helps marketers analyze the quality of creative content in their digital ads and use data and other information to improve ad performance.
Metafold 3D secures $500,000 from Active Impact Investments to build the ‘missing piece’ of 3D printing (BETAKIT)
The startup was founded in 2020 by a group of math, geometry, and architecture experts consisting of CEO Elissa Ross, CTO Daniel Hambleton, and COO Tom Reslinski. The trio decided to start Metafold while working at Mesh Consultants, a geometry consulting firm founded by Hambleton.
Founded in 2015, DriveNets offers Communications Service Providers (CSPs) and Cloud Providers a new way to build networks, dramatically increasing their profitability by changing their technology and business models.
NotaryPro Secures CA$646,415 to Tap Growing Digital Signature Market (BETAKIT)
NotaryPro said the funding was led by a California-based investment group, although it did not release the name of the investor. The company also did not identify the other investors who participated in the round. BetaKit reached out for more details.