This Week in SaaS

Weekly insights on great companies operating within the SaaS space.

If you’re not familiar with SaaS, go check out the beginning portion of my prior article — This Week in SaaS. Weekly insights on great companies… | by Ian Bambrick | Jan, 2021 | Medium

Really this series should be called this week in growth, but I’ll assume readers are privy to the fact this blog is geared towards late stage venture investments! With that being said, let’s jump right into it.

A lot of investments in the SaaS space for the prior week.

• Lightspeed POS acquires Vend for $350 million. Vend retails POS software, inventory management, ecommerce, and customer loyalty solutions for iPad, Mac, and PC.
• Snyk receives $300 million in funding from Accel, Tiger Global, Addition, Boldstart Ventures, Canaan Partners, Coatue, GV (formally Google Ventures), Salesforce Ventures, Stripes, BlackRock, Alkeon, Atlassian Ventures, Franklin Templeton, Geodesic Capital, Sands Capital Ventures, and Temasek. Snyk is a cybersecurity company that develops security analysis tools used to identify open-source vulnerabilities.
• Airtable receives $270 million in funding from Greenoaks Capital, WndrCo, Thrive Capital, CRV, and Caffeinated Capital. Airtable is a cloud-based software company that offers an easy-to-use online platform for creating and sharing relational databases.
• WorkFusion receives $220 million in funding from Georgian. WorkFusion offers automation solutions to enterprises to help them reduce costs and up-skill workforces.
• Dropbox acquires DocSend for $165 million. DocSend is a secure document sharing and tracking solution that helps professionals build relationships and close business.
• Aqua Security receives $135 million in funding from ION Crossover Partners, TLV Partners, M12, Lightspeed Venture Partners, Insight Partners, Greenspring Associates, and Acrew Capital. Aqua Security helps enterprises secure their cloud native, container-based, and serverless applications from development to production.
• Optibus receives $107 million in funding from Insight Partners, Bessemer Venture Partners, Verizon Ventures, Pitango Venture Capital, New Era Capital Partners, Dynamic Loop Capital, and BlueRed Partners. Optibus is a developer of an AI-enabled SaaS platform for planning and running mass transportation.
• Via acquires Remix for $100 million. Remix is a platform for planning public transit, designing streets, and managing new mobility.
• Icertis receives $80 million in funding from B Capital Group, PSP Growth, PremjiInvest, Meritech Capital Partners, Greycroft, and e.ventures. Icertis is an AI-powered contract management platform that ensures compliance and minimizes risk.

In HealthTech

• Hellman & Friedman acquires Cordis for $1 billion. Cordis Corporation, a Johnson & Johnson company, has pioneered less invasive treatments for vascular disease.
• ElevateBio receives $525 million in funding from Matrix Capital Management, SoftBank, Fidelity Management & Research Company, F2 Ventures, Redmile Group, EcoR1 Capital, Samsara BioCapital, The Invus Group Emerson Collective, Citadel’s Surveyor Capital, EDBI, Vertex Ventures, and iTochu. ElevateBio is accelerating the rate of innovation in cell and gene therapy with a disruptive capital-efficient model.
• Insitro receives $400 million in funding from Canada Pension Plan Investment Board (CPP Investments), Andreessen Horowitz, T. Rowe Price Associates, Inc., Casdin Capital, BlackRock, ARCH Venture Partners, Foresite Capital, GV, Third Rock Ventures, Two Sigma Ventures, HOF Capital, Alexandria Venture Investments, Temasek, and Softbank Investment Advisors. Insitro is a drug discovery and development startup that utilizes machine learning and biology to transform drug discovery.
• Forward receives $225 million in funding from SoftBank Vision Fund, Founders Fund, The Weeknd, Marc Benioff, and Khosla Ventures. Forward is a startup redesigning the way healthcare is delivered using all the technologies healthcare has neglected such as sensors, mobile, and AI.
• Valo Health receives $110 million in funding from Koch Disruptive Technologies. Valo Health uses human-centric data and machine learning-anchored computation to transform the drug discovery and development process.
• Arctic Vision receives $100 million in funding from Loyal Valley Capital, Tencent Holdings, Pivotal bioVenture Partners China, Octagon Capital Advisors, Nan Fung Life Sciences, Morningside Group, and Adrian Cheng (Eureka Nova). Arctic Vision is a China-based clinical-stage specialty ophthalmology company with a leading portfolio of breakthrough technologies.
• Monte Rosa Therapeutics receives $95 million in funding from Avoro Capital Advisors, Versant Ventures, Sixty Degree Capital, New Enterprise Associates, HBM Healthcare Investments AG, GV, Fidelity Management and Research Company, Cormorant Asset Management, Casdin Capital, and Cambridge Asset Management. Monte Rosa Therapeutics is a biotechnology company that develops cancer therapeutics that modulate protein degradation pathways.
• Grifols acquires GigaGen for $80 million. GigaGen specialized in the early discovery and development of recombinant biotherapeutic medicines.
• ixLayer receives $75 million in funding from General Catalyst, Zeshan Muhammedi (FundRx), Pear VC, Hamid Moghadam (Prologis), Dara Khosrowshahi (Uber), Bobby Yazdani (Cota Capital), and Anne Wojcicki (23andMe). ixLayer develops a telehealth platform that provides an infrastructure for payors, providers, and government partners to scale testing.
• AgomAb Therapeutics receives $74 million in funding from Redmile Group, V-Bio Ventures, Pontifax, Omnes Capital, Cormorant Asset Management, Boehringer Ingelheim Venture Fund, Andera Partners, and Advent France Biotechnology. AgomAb Therapeutics is a company is developing growth factor-mimetic agonistic monoclonal antibodies to regenerate damaged tissues.
• CELLINK acquires MatTek for $68 million. MatTek is a provider of advanced in-vitro technology for clinical and tissue model innovation, cell isolation and cell culture.