Inside SaaS - September 20th, 2019 | Inside.com

Inside SaaS (Sep 20th, 2019)

Datadog shares rose 39% in debut / Salesforce announces Einstein Search / PollyEx and Ellie Mae integration

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1. Datadog's shares increased 39 percent and closed at $37.55 in the cloud software company's stock market debut on Sept. 19. By the end of the day, Datadog -- which provides metrics for cloud providers, and offers a SaaS that can integrate with a number of major cloud platforms --  reported a $10.9 billion valuation. CEO Olivier Pomel says the fact Datadog is based in New York may have something to do with its success. Although initially it was difficult to attract investment because they were not based in the West Coast, being in New York ultimately helped the company provide better customer value. “What helped the most by being in New York was that we’re a little bit closer to customers—there’s more of them here. And, you’re out of the echo chamber in the Silicon Valley so here you can get ahead on what the customers think,” he said. - FORBES


2. Salesforce announced Einstein Search, a new feature that uses AI that allows customers to conduct personalized, actionable searches in its Sales and Service Cloud platform. According to Salesforce, Einstein Search can reduce page and click loads by 50 percent to 80 percent for frequently used tasks.  “We believe that Einstein Search with its natural language functionality will help us streamline everyday tasks and alleviate on-boarding, boosting productivity and allowing us to focus on our customers," said MightyHive director of global CRM and enterprise solutions Laurent Farci. Einstein Search will become generally available in 2020. - VENTURE BEAT


3. PollyEx Inc. announced it integrated its Loan Trading Exchange with Ellie Mae's Encompass Digital Lending Platform through Ellie Mae's Encompass Partner Connect API. PollyEx is a SaaS solutions provider for the mortgage industry that connects buyers and sellers of mortgage loans. Through this new partnership with Ellie Mae, mortgage lenders will be able to share their "for sale" pipeline from Encompass and receive settlement data upon loan commitment. "The seamless integration of PollyEx's innovative Nexus Exchange with Encompass will allow our customers to further realize process efficiencies and cost savings from origination through sales execution, furthering the promise of a complete and true digital mortgage," Parvesh Sahi, SVP of business development for Ellie Mae, said. - NATIONAL MORTGAGE PROFESSIONAL MAGAZINE 


4. TIMIA Capital Corporation has expanded its TIMIA Capital 1 Limited Partnership to $20 million Canadian dollars, or about $15,058,000 US dollars. With this additional funding, TIMIA can now provide even more capital for North American SaaS companies. TIMIA also reveals it's received approximately $2,258,700 million in new investment into LP1 and more, bringing the LP1’s capital position to almost $9,787,700. The partnership finances early-stage financial technology companies. - PROACTIVE INVESTORS


5. Digital banking provider Crealogix reported record revenues after moving to a SaaS business model. Revenues for the 12 months to June were 101.9m Swiss Francs, or about $102,137,255, which is an increase from the $87,744,540 reported the previous year. “Revenues are to be increased further and Crealogix expects the transformation to have a positive impact in the mid-term in form of solid cash flows and double-digit EBITDA margins," said Crealogix CEO Thomas Avedik and Chairman Bruno Richle. - ALTFI


6. Salesforce has added a new pollution tracking tool called Sustainability Cloud. By providing software that helps businesses track and analyze their environmental data, customers can track how much pollution they're giving off. “A huge part of the power of this app is in being able to observe and manage trends over time,” Amy Skeeters-Behrens, executive director of DocuSign IMPACT, the company’s global philanthropic initiative, said. Skeeters-Behrens adds Salesforce, who initially only used the tool internally, has already used it to identify where it could reduce its environmental footprint. - THE VERGE


7. A software engineer has started a Twitter thread featuring some helpful open-source alternatives to popular SaaS companies. For example, instead of Slack, he recommends Matter Most and Riot. For those on the hunt for A/B testing solutions, the engineer recommends Wasabi, which he says is a great service that lacks "marketing nonsense which costs thousands." Check out the full thread for more options. - @klaussilveira


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.

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


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