Inside SaaS - September 4th, 2019 | Inside.com

Inside SaaS (Sep 4th, 2019)

Druva To Launch IPO / 2019 SaaS Awards / Platform9 Raises $25 Million

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1. Saas startup Druva is preparing to launch an IPO. Although the team does not yet have a fixed date, Druva co-founder and CTO Milind Borate says they are currently getting themselves ready for an IPO. The news comes a few months after Druva obtained unicorn status this past June, raising $130 million in a Series G funding round. - YOURSTORY


2. Some of the winners of the 2019 SaaS Awards have now been announced. Sauce Labs Inc., won "Best SaaS Product for Web/App Development," while London-based CleanCloud is the Best SaaS Product for Small Non-US Businesses. Meanwhile, Tripleseat was named the Best SaaS Product in the Catering or Hospitality category. Other winners include IBM Watson Studio, McAfee, Verizon Connect, and more. - LAUNDRY AND CLEANING NEWS


3. SaaS-managed hybrid cloud leader Platform9 announced it has raised $25 million in Series D funding. NGP Capital, whose partner Rohini Chakravarthy will be joining the company’s board of directors, led the round. Mubadala Ventures, Redpoint Ventures, Menlo Ventures, Canvas Ventures, and HPE Pathfinder also participated. Altogether, Platform9 has raised a total of $61.5 million, a figure that includes this round. - PULSE 2.0


4. Some are now questioning podcast startup Himalaya Media's claims it raised $100 million in venture capital funding. According to a new report, General Atlantic -- which the startup said contributed to the funding round -- denied having done so. Instead, General Atlantic says it previously invested in Ximalaya FM, a Chinese podcasting platform Himalaya, which Himalaya's original head of partnerships and marketing says is its majority owner. Himalaya's CEO has since removed a press release listing General Atlantic as an investor, stating that "some of the language... was a little bit confusing." - AXIOS


5. eGain saw a 37% increase in SaaS revenue for the fiscal year of 2019, its recently released financial results reveal. For the full fiscal 2019 year,  SaaS revenue was $44.8 million, while subscription revenue was $60.0 million. Total revenue for the year was $67.2 million, which represents a 10% increase. Meanwhile, the report also revealed SaaS revenue as was $11.6 million for the fourth quarter. - EGAIN


6. This post lists out the top tech funding rounds in New York City for the month of August 2019, which include names such as DemystData, Something Navy, and more. - ALLEY WATCH


7. The CEO of the Morningstore SEO SaaS company Karsten Madsen reveals how he managed to grow from zero to $10k MRR by grilling and avoiding "sketchy" SaaS investors and more, making sure to search for investors one year before he needed the money. - WHALEPAGES


Written and curated by Inside Dev and Inside Deals Editor Sheena Vasani, a freelance journalist based in California. Proficient in Javascript and Ruby. Got my start at Dev Bootcamp and Thinkful.

Editor by Bobby Cherry, a senior editor at Inside.com who also curates Inside Pittsburgh.


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