Almost exactly one year after announcing its Series A, website building platform Strikingly said today that it has raised a $10 million Series A+. The new round was led by Cathay Capital, with participation from CAS Holding, the lead investor in Strikingly’s Series A. This brings Strikingly’s total funding so far to $17.5 million. Co-founder and CEO David Chen tells TechCrunch that the funding is “technically a Series B level round for us,” but the team wanted to call it a Series A+ because the capital will be used to continue the momentum of products launched around the time of its Series A, including a mobile website editor and a reseller program, as well as its growth in China. (Series A+ rounds are also more common in China, where Strikingly has an office in Shanghai and is one of the most popular website building services). “The A+ is Continue reading "Website builder Strikingly raises $10M Series A+ to continue growth in China"
Blissfully, a New York City startup that helps companies understand their SaaS usage inside their organizations, announced it has received a $3.5 million seed round. The investment was led by Hummer Winblad Venture Partners. Hubspot, Founder Collective, and several unnamed pre-seed investors also participated. They got a $1.5 million pre-seed investment, bringing the total so far to $5 million, according the company. Company co-founder and CEO Ariel Diaz says Blissfully actually helped him and his co-founder solve a problem they were having tracking the SaaS usage at their previous startups. Like many companies, they were using spreadsheets to track this information and they found it was untenable as the company grew beyond 30 or 40 people. They figured there had to be a better way, so they built one. Their product is much more than simply a database of the SaaS products in use inside an organization.
Continue reading "Blissfully grabs $3.5 million seed investment to help companies get their SaaS in gear"
Salesforce, there’s an interesting opportunity to reflect back on the change that Marc Benioff created with the software-as-a-service (SaaS) model for enterprise software with his launch of Salesforce.com. This model has been validated by the annual revenue stream of SaaS companies, which is fast approaching $100 billion by most estimates, and it will likely continue to transform many slower-moving industries for years to come. However, for the cornerstone market in IT — large enterprise-software deals — SaaS represents less than 25 percent of total revenue, according to most market estimates. This split is even evident in the most recent high profile “SaaS” acquisition of GitHub by Microsoft, with over 50 percent of GitHub’s revenue coming from the sale of their on-prem offering, GitHub Enterprise. Data privacy andAs we enter the 20th year of
Continue reading "After twenty years of Salesforce, what Marc Benioff got right and wrong about the cloud"
Canada will be home to a new venture capital fund that will invest in enterprise cloud startups. Its backer? Salesforce Ventures, the global investment arm of Salesforce, a leading cloud-hosted business software provider. According to a recent press release from Salesforce, the $100 million Canada Trailblazer Fund has already taken stakes in four Canadian startups building cloud-based tools for the enterprise, including Tier1CRM, Traction Guest, Tulip and OSF Commerce. (Disclosure: Salesforce’s venture arm is an investor in Crunchbase News’s parent, Crunchbase. As with all investors in Crunchbase, Salesforce Ventures has zero input in the operation or coverage of the News team.) The companies mentioned above join a handful of other Canadian enterprise cloud companies in Salesforce’s broader investment portfolio. In the years prior to announcing the new Canada Trailblazer Fund, Salesforce Ventures made investments in Aislelabs, Vidyard and
Continue reading "In Canada’s cloud services market, venture investment opportunities abound"
The two most highly valued private tech companies (outside of China) are Uber and Airbnb. Both also happen to be marketplace businesses, and their success has helped encourage a rush of VC investment in similar business models over the past several years. But despite all this investment, public comps for marketplaces remain far thinner than those for SaaS.
Note: This is the second article in a three-part series on valuation thoughts for common sectors of venture capital investment. The first article, which attempts to make sense of the SaaS revenue multiple, can be found here. The two most highly valued private tech companies (outside of China) are Uber and Airbnb, checking in with valuations of $69 billion and $31 billion, respectively (according to the Crunchbase Unicorn leaderboard). Like some of the most valuable companies in the world (Alibaba, Facebook, and Google), both also happen to be marketplace businesses, and their success has helped encourage a rush of venture capital investment in similar business models over the past several years. However, despite all this investment, public comps for marketplaces remain far thinner than those for SaaS — as of early January 2018, there were 42 publicly traded billion-dollar SaaS companies*, whereas only 14 marketplaces have broken
Continue reading "The mystery of the public marketplace"
The two most highly valued private tech companies (outside of China) are Uber and Airbnb. Both also happen to be marketplace businesses, and their success has helped encourage a rush of VC investment in similar business models over the past several years. But despite all this investment, public comps for marketplaces remain far thinner than those for SaaS. Read More
Capillary Technologies, an India-based startup that helps e-commerce businesses manage their marketing and customer engagement, has pulled in $20 million in fresh funding from existing investors Warburg Pincus and Sequoia. The company said it plans to use the capital to develop its products and R&D, including a new focus on the fast-moving consumer goods (FMCG) space where it works… Read More
While the cloud removes much of the hassle and complexity associated with maintaining and managing an application, that ease of use means you can lose control of your usage and spending just as easily. Intello wants to help your company track and manage all of that information in a dashboard. Today, it announced $1.3 million in seed funding. Up until now, companies tend to track this data using… Read More
“How fast do I need to be growing to be interesting to a venture investor?” This is a question we get asked all the time by CEOs, and we realize “it depends” is not the most actionable answer to give. Instead, we have come up with a simple model that allows us to give a clear numerical answer to this question.