Inside SaaS - July 8th, 2019 |

Inside SaaS (Jul 8th, 2019)

Mailchimp opens in Vancouver / Chennai rising SaaS hub / Atlassian launches R&D in Bangalore

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1. Mailchimp has established its first international office in Vancouver. Atlanta-based Mailchimp will now contract five employees in Vancouver and has plans to expand this headcount to 20 to 30 people in the near term, confirmed Andy Pittman, VP of Talent Strategy. The selection of Vancouver follows Mailchimp's acquisition of LemondStand, a smaller Shopify competitor, last March. CEO Danny Halarewich of LemonStand will be heading up the new Vancouver office and says he looks to help Mailchimp's customers with "better marketing, and—now that we’re working on e-commerce light features—helping them sell more stuff.” -- DAILY HIVE

2. Chennai is emerging as a competitive hub in India's SaaS market, which represents a potential $50 billion by 2025. The southern Indian capital of Tamil Nadu is now home to a growing host of CRM SaaS firms that are vying for market share with global heavyweights like Salesforce, SAP and Oracle, as well as the limelight of Bangalore, India's traditional software service headquarters. Chennai-based office suite SaaS Zoho and CRM startup Freshworks have earned revenues of $287 million and $38 million, respectively, while the overall Indian SaaS market is expected to grow three times by 2020. Adding to the industry's fervor is the nearly $70 million tech IPO that was raised by e-commerce firm IndiaMART last week. -- THE ECONOMIC TIMES

3. Estonian conversation and QA tool Klaus has scored $1.8 million in seed funding. After opening just two years ago, the Tallinn-based startup already sells its customer support tools to WordPress parent Auttomatic, video-hosting provider Wistia and Soundcloud. The seed round was the first Baltic investment made by Swedish VC firm Creandium, which was also an investor in Spotify. Klaus' co-founders Kair Käsper and Martin Kõiva are both former employees of CRM management SaaS Pipedrive, where they were the director of product marketing and global head of customer support, respectively. -- TECH CRUNCH

4. Atlassian has launched its global R&D center in Bangalore. The Sydney-based software developer behind Trello and Jira, which established a presence in Bangalore last year, will now employ 200 people to work in R&D and customer support roles. Atlassian plans to hire an additional 300 people over the coming year, seeing the city as a hot spot for tech talent. "Within our first year in market we have hired incredible people whose work has had a direct impact on our global customer base," said Sri Viswanath, Atlassian's CTO. -- YOUR STORY

5. Square Cash has overtaken PayPal-owned Venmo in app downloads for the first time. According to New York-based brokerage Instinet, Square Cash registered 56.1 million cumulative downloads, which was 6.4 million more than Venmo as of June. This was the first time that Square Cash overtook Venmo in downloads, but because the Jack Dorsey-owned Square does not publish details of active accounts, it is hard to determine which service has become more competitive. Instinet's research attributes Square Cash's boost to the apps growing popularity with lower-income customers. -- QUARTZ

6. German financial index SaaS company BITA has raised €1.25 million ($1.4 million) in seed funding. The Frankfurt-based fintech firm provides real-time financial index technology that has already been adopted by numerous global trading platforms. The initial investment round will help fund R&D for the company's financial indexing software, as well as provide a sales boost. CEO Victor Gomez, who is former Senior Vice President of Ventures at Deutsche Börse, said in a statement that BITA's "products have the potential to make a significant piece of the financial system more flexible." -- TECH EU

7. An interior design startup is suing Google after one of its employees accidently deleted the company's G Suite account. Mosss, a California interior design tool SaaS firm, whose website is also down at the time of writing, said that they called G Suite Business technical support at the time of the crisis and were told that the issue would be handled. However, Mosss claims that the matter was not handled promptly and is now suing over damages. "To our dismay, our case was not escalated, and no action was taken for nearly three days!" said the court filing in the US District Court in Oakland, California. -- THE REGISTER

8. Microsoft has (re)released Windows 1.0 in a teaser marketing tie-in with Netflix's Stranger Things 3. Microsoft had been running a month-long social media campaign to attach this launch to the third season of the '80s-set Stranger Things, which Netflix dropped on July 4. Originally launched in 1985, Windows 1.0 only fit a few floppy disks, therefore Microsoft has chosen to officially release Windows 1.11, which holds 775MB. -- THE VERGE

9. DocuSign is advancing investment in blockchain-based smart contract technology. The San Francisco-based office management SaaS recently participated in the $5.5 million Series A funding round of Clause, a smart contract provider. DocuSign's blockchain strategy began in 2015, and the company sees smart contract technology as a tool to improve self-executing and better-encrypted contracts. -- FORBES

10. Hedge fund Tiger Global has dumped shares of Survey Monkey for the second time since its IPO last September. Tiger Global was originally the largest holder of Survey Monkey, with 29.3 percent of shares, but has now dropped its position to 26.36 percent. The hedge fund is run by Chase Coleman, who is a protege of investor Julian Robertson, the founder of Tiger Management. -- FORBES

This newsletter is written and curated by Justin Calderón. Justin is based out of Barcelona, Spain, and has covered technology and SaaS news for a variety of publications, including the BBC and Newsweek. Follow him on Twitter at @justinfuyun

Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside), David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology), and Bobby Cherry (senior editor at Inside, who’s always on social media).

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