The Day in SaaS 07.07.21: 18 Years to a $500m Series A; 95% of Workers Want to Quit; Wise Wins
Database optimization startup Silk raises $55M. Database software has to be the largest segment of software that doesn’t make too much noise. MongoDB’s $24B market cap aside.
Entrata Raises $507 Million After 18 Years Bootstrapped, Making It Utah’s Newest Software Unicorn. Entrata goes long with its RealPages competitor, and waits 18 years to raise its first round. At $500m. This is more common than it sounds, and is a version of the playbook the founders of Atlassian, Qualtrics, and more ran. It takes longer this way. But the payoff in less dilution can be worth it. At least in some spaces.
Didi's IPO was a disaster. Here's why Chinese companies keep listing in the US. China isn’t as free as the U.S., but its top tech companies often still list here. “10 Chinese companies completed US IPOs in 2020, representing over 20% of the market excluding SPACs — the highest percentage of US IPO issuance since 2010.”
Skedulo secures $75M to manage and analyze the deskless workforce. A big Covid winner on top of the Salesforce ecosystem.
Software and IT services hiring is surging as workers move to these cities en masse. Woah -> “Hiring in the software and IT services increased 62.3% year over year and jumped 8.9% month over month.”
You're not the only one who's had enough — 95 percent of workers are considering quitting, report says. It’s not just your team. 95% of workers are at least dreaming of finding something new as we come out of Covid.
Fintech giant Wise is set go public in a rare Spotify-style listing — and it will be a big test for London. An $8B+ win to make cross-border commerce easier.
Juni, a 'vertical' neobank for e-commerce and online marketing companies, raises $21.5M. A neobank just for e-commerce makes a lot of sense. The majority of Shopify’s revenue is in processing payments, for example — not software.
Jeff Bezos’ Wealth Hits All-Time Record High With Expected Amazon Pentagon Contract, Leaving Elon Musk In The Dust. The JEDI brush-up in the end didn’t seem to hurt Microsoft or Amazon. You move on.
US tech firm hit by REvil attack is NOT able to resume service. This massive ransomware hit is even bigger than it seems. Many businesses are still unable to resume service.
