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.

SOFTWARE

  • Scale AI receives $325 million in funding from Tiger Global Management, Greenoaks Capital, Dragoneer Investment Group, Y Combinator, Wellington Management, Index Ventures, Founders Fund, Durable Capital Partners, and Coatue. Scale AI is the data platform for AI, providing high quality training data for leading machine learning teams.
  • Signifyd receives $205 million in funding from Owl Rock Capital Partners, Neuberger Berman Group, FIS, CPP Investments, and Canada Pension Plan Investment Board. Signifyd is a SaaS-based, enterprise-grade fraud technology solution for eCommerce stores.
  • Degreed receives $153 million in funding from Sapphire Ventures and Riverwood Capital. Degreed is an upskilling platform where individuals and organizations can discover content, build skills, and certify expertise.
  • Virtualitics receives $18 million in funding from North Sound Ventures. Virtualitics provides data visualization in virtual reality and augmented reality environments.
  • Atrium receives $13 million in funding from CRV, Bullpen Capital, and Bonfire Ventures. Atrium help sales managers with its data-driven management software that provides coaching insights and continuous monitoring.

HEALTHTECH

  • Thermo Fisher Scientific acquires PPD for $17.4 billion. PPD is a global contract research organization that offers drug development, laboratory, and lifecycle management services.
  • American Securities acquires SimonMed for $600 million. SimonMed Imaging is an outpatient medical imaging company that helps provide accurate diagnosis results.
  • Adagio Therapeutics receives $336 million in funding from RA Capital Management, Redmile Group, PremjiInvest, Population Health Partners, Polaris Partners, OrbiMed, Omega Funds, Mithril Capital Management, GV, and Foresite Capital. Adagio Therapeutics offers research and development of therapeutic pharmaceuticals.
  • Benchling receives $200 million in funding from Sequoia Capital Global Equities, Thrive Capital, Spark Capital, Menlo Ventures, Lux Capital, Lead Edge Capital, ICONIQ Capital, Elad Gil (Color), Byers Capital, and Benchmark. Benchling is a cloud-based software platform for biology researchers and research and development organizations.
  • Virta Health receives $133 million in funding from Tiger Global Management. Virta delivers a clinically-proven treatment to reverse type 2 diabetes and other chronic metabolic diseases.
  • Relay Therapeutics acquires ZebiAI for $85 million. ZebiAI is a platform that applies massive experimental DNA encoded library data sets to power machine learning for drug discovery.
  • Alchemab Therapeutics receives $82 million in funding from RA Capital Management, SV Health Investors, Lightstone Ventures, DHVC, Dementia Discovery Fund. and DCVC. Alchemab Therapeutics is developing natural protective antibodies designed to keep people free of hard-to-treat diseases.
  • TetraScience receives $80 million in funding from Insight Partners and Alkeon Capital Management. TetraScience is an R&D cloud data management company that empowers transformation in life sciences and drug discovery.
  • Medable receives $78 million in funding from Sapphire Ventures, Streamlined Ventures, PPD, Obvious Ventures and GSR Ventures. Medable is transforming clinical research and predictive medicine by creating a platform powered by patient generated data.
  • Hazel Technologies receives $70 million in funding from Temasek Holdings, Pontifax AgTech, S2G Ventures, Rhapsody Venture Partners, Pangaea Ventures, Jordan Park, Jeremy and Hannelore Grantham Environmental Trust, and Asahi Kasei Corporate Venture Capital. Hazel Technologies develops biotechnology for reducing waste in the agricultural supply chain.
  • AltruBio receives $63 million in funding from aMoon Fund, CAM Capital, and BVF Partners. AltruBio is focused on developing targeted antibody therapeutics for the treatment of cancer and immune related inflammatory diseases.

FINTECH

  • Clearcover receives $200 million in funding from Eldridge, OMERS Ventures, Cox Enterprises, and American Family Ventures. Clearcover is a digital car insurance provider offering better coverage for less money.
  • Razorpay receives $160 million in funding from Sequoia Capital India, GIC, Tiger Global Management, Ribbit Capital, and Matrix Partners India. Razorpay is a platform that enables businesses to accept, process, and disburse payments.
  • Zilch Technology receives $80 million in funding from M&F Fund and Gauss Ventures. Zilch is a buy now, pay later app that allows its customers to shop wherever Mastercard is accepted.
  • Nuvei acquires Mazooma for $56 million. Mazooma is a micropayment solutions company that caters to the digital space.
  • Pine Labs acquires Fave for $45 million. Fave is a next generation digital merchant platform that empowers offline merchants to grow and connect with their customers in a whole new way.

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