Inside SaaS - September 6th, 2019 |

Inside SaaS (Sep 6th, 2019)

Microsoft To Buy Movere / Slack, Smartsheet, MongoDB, Pivotal's Stocks Drop / Exabeam Cloud SaaS Expands

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1. Microsoft announced it will purchase Movere, a SaaS startup that helps companies "plan cloud migrations and continuously optimize, monitor and analyze IT environments." This will be the second cloud-related acquisition Microsoft has made in 2019 after investing in big data analytics platform Databricks earlier in Feb. Movere will join Microsoft's Azure team as part of Azure Migrate. - CLOUDTECH

2. Slack, Smartsheet, MongoDB, and Pivotal's stocks all suffered losses after the companies reporting its earnings on Sept. 4. Slack lost roughly 15 percent of its value, while Smartsheet dropped 8 percent. MongoDB lost a little over 2 percent, while Pivotal stayed flat. Some, like Crunchbases' editor-in-chief, Alex Wilhelm, argues that while it's too early to determine if this is a trend, SaaS startups should be concerned. "It does feel like SaaS stocks are having a harder time impressing public market investors. And that could impact private investor sentiment and thus private companies’ valuations," argued Wilhelm. - CRUNCHBASE

3. Security information and event management (SIEM) platform provider Exabeam announced the expanded availability of Exabeam Cloud SaaS. It is now available for hosting in 13 regions, including the USA, the United Kingdom, Canada, Singapore, Australia, India, Belgium, Hong Kong, Japan, Switzerland, the Netherlands, Germany, and Brazil. “SaaS Cloud is ideal for organizations with a cloud-first approach, and we have expanded its availability in response to a huge demand from our international customers, which need access to in-region hosting to meet compliance and policy requirements.” said Anu Yamunan, VP of Products at Exabeam. - HELPNETSECURITY

4. Vertical SaaS legal technology company Clio has raised $250 million in Series D round funding in what is considered one of the largest rounds in legal tech and the largest in Canadian history. Clio, which aims to serve as an “an operating system” for lawyers, offering cloud-based legal practice management, client intake and legal CRM software, received the funding from TCV and JMI Equity. “This is a vast industry that has been lagging in technology adoption and there’s tons of opportunity,” TCV Principal Amol Helekar said. “We see Clio as a pioneer in cloud-based tech solutions for the legal industry that has seen exceptional organic growth.” - CRUNCHBASE

5. OptimizeRx, a software company that enables digital health messaging between pharmas and providers, will be purchasing digital therapeutics SaaS platform provider RMDY Health for $16 million. The software company will make the acquisition within the next 30 days in cash and equity. Through the acquisition, OptimizeRx will be able to reach new clients beyond providers and pharmas. “By adding RMDY Health’s complementary capabilities to our platform,” William Febbo, CEO of OptimizeRx, said, “we not only extend our ability to engage doctors and patients for our pharmaceutical clients, we introduce important client segments to our solution suite. We can now further bridge the critical communication gaps between pharma, healthcare providers, payers, medical associations and patients.” - MOBI HEALTH NEWS

6. Splunk announced it is acquiring SaaS startup Omnition. Omnition, which uses distributed tracing to monitor microservices applications, will join Splunk's IT and Developer portfolio. "The combined power of Splunk and Omnition will provide users with a leading observability technology, bringing tracing together with logs within one of the most advanced IT monitoring and analytics platform," said Splunk CTO Tim Tully, in a blog post. Neither companies have revealed how much the purchase is expected to go for. - ZDNET

7. OpenGov, a startup that gives SaaS software helping governments and other civic organizations run their operations, has purchased ViewPoint Cloud. - TECHCRUNCH

8. One self-funded data visualization SaaS grew at 30 percent every month thanks to negotiating with potential partners early on and more, which they delve into in this interview. - WHALE PAGES

9. SaaS backup is on the rise, according to this piece which delves into some of the highlights of the 2019 survey report, Growing Usage of SaaS Data Protection – Unitrends 2019 Survey. - SECURITY BOULEVARD

10. A cloud-based pharmacy SaaS platform backed by ASX-listed Sigma Healthcare is on the hunt for new capital, sending a seven-page flyer to potential investors this past week. - FINANCIAL REVIEW

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 who also curates Inside Pittsburgh.

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