Inside SaaS - July 31st, 2019 |

Inside SaaS (Jul 31st, 2019)

Israel's latest unicorn: / Ordermark raises $18M / We Company to acquire SpaceIQ

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1. Property platform Compass has closed $370 million in Series G funding ahead of a reported IPO. Co-founded by Israeli entrepreneur Ori Allon and American Robert Reffkin in 2012, Compass has made use of machine learning to automate property marketplace functions. The platform also offers a CRM, which was added by acquiring Contactually earlier this year, a service that is currently used by some 13,000 real agents. Tech Crunch reports that Compass is now considering a public listing within the next year. The latest funding round will be used to continue expansion within the U.S. and brings the startup's valuation to $6.4 billion. -- TECH CRUNCH

2. Workplace collaboration tool has raised $150 million in a Series D investment. The Israel-based platform is one of the fastest-growing companies in the increasingly competitive space, as companies push to meet the growing demands of remote workers. The fresh investment round led by Sapphire Ventures has made the company Israel's latest unicorn, tripling its valuation to $1.9 billion, up from $550 million in just one year. has seen a sharp uptick in clients; it now has 80,000 organizations as customers, up from 35,000 a year ago. -- FORBES

3. ON THE CUSP: Restaurant delivery management platform Ordermark has raised $18 million in a Series B round led by Foundry Group. Inspiration for the company came from a desire to organize the "messy landscape" of modern mobile delivery food services, said co-founder Alex Canter, who is heir to Canter's Deli, an iconic Los Angeles delicatessen. “We created Ordermark to help my family’s restaurant adapt and thrive in the mobile delivery era, and then realized that as a company, we could help other restaurants experiencing the same challenges," said Canter. With hardware and software provided by Ordermark, restaurants can aggregate orders from a multitude of third-party delivery services so that they can instead "put their heads down and crank out food," Canter said. 

Ordermark's software integrates with over a dozen delivery platforms, including Uber EatsPostmatesDoorDashChowNow, Caviar,, and popular POS systems like Brink, Dinerware, Positouch, Simphony, and Squirrel. Hardware has also been crucial to the company's success because, as Canter discovered, many restaurants lack digital systems integration. Ordermark's growth has been rapid, with its client base increasing from 800 restaurants in November 2018 to 3,000 today. -- VENTURE BEAT

4. Co-working firm We Company (formerly WeWork) has entered talks to buy software startup SpaceIQ ahead of its IPO. The acquisition talks are seen as a sign that We Company is trying to demonstrate to investors that it is more than just a property business, but rather a tech company focused on real estate. Silicon Valley-based SpaceIQ specializes in helping companies better use office space through its management and analytics software, and has raised $11.5 million in funding across three rounds. WeWork recently rebranded itself as We Company to reflect its expansion beyond the co-working market. It is valued at $36 billion. -- CNBC

5. 3D search engine Physna has landed a $6.9 million Series A round from Drive Capital. The co-founder of Drive Capital, Mark Kvamme, is best known for his early investments in Google and LinkedIn. He now hopes to help the three-year-old company become the world's first 3D search engine. "I remember watching Google rise to become the company that would set the standard for text and image search," Kvamme said in a statement. "I see the same potential here." Physna plans to use the fresh capital to create 20 jobs and open a Columbus, Ohio office. -- WCPO

6. Cybersecurity startup Confluera raised a $9 million Series A round on the same day of its official launch. The Palo Alto-based startup helps companies intercept cyber attacks in real-time. Lightspeed Venture Partners led the investment round, which also included backing by John W. Thompson, who is chairman of Microsoft and former CEO at Symantec. According to Gartner, the cybersecurity industry is worth over $124 billion. -- FORBES

7. Enterprise AI platform DataRobot has raised $200 million in a Series E funding round. DataRobot's platform enables its clients to better harness enterprise data through predictive modeling and analytics. Founded by former data scientists, DataRobot is now close to unicorn territory and has raised over $400 million in capital. This investment makes the data company one of the leaders of AI-based technology in Boston, a world capital in machine learning. -- XCONOMY

8. Microsoft will replace Skype for Business with Microsoft Teams by July 31, 2021. After that date, Microsoft will retire Skype for Business once and for all in favor of its high-rising workplace chat applicant Microsoft Teams, which recently overtook Slack by registering 13 million active daily users. Starting September 1, 2019, Microsoft will discontinue the onboarding of Office 365 customers to Skype for Business. -- ZDNET

9. Japanese tech investment firm SoftBank has completed fundraising for a $108 billion fund. The bank's Vision Fund will shake up the enterprise tech world, the WSJ predicts. SoftBank reinvested $38 billion of funds it earned from its first Vision Fund series, which is seen as a sign of the bank's confidence in global tech. Sources of the remaining $70 billion of the fund were not disclosed, but SoftBank said that it had signed memoranda of understanding with Microsoft, Apple and three large Japanese banks. -- REUTERS

10. Event tech startup Socio has closed $6 million in Series A funding led by Indianapolis-based High Alpha Capital. The startup plans to use the cash infusion to hire more staff at its offices in Indianapolis, Indiana, and Istanbul, Turkey. Socio also used the occasion to launch two new events products that will help clients manage in-event experiences. There are also blueprints to begin developing a pre-event product to better handle event registration. According to Socio's website, the company currently counts Google, Microsoft, PepsiCo and Hyundai as clients. -- IBJ

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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

Editor: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside).

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