Inside SaaS - October 2nd, 2019

Inside SaaS (Oct 2nd, 2019)

SaaS struggles in markets / SaaS may turn India into global software hub / Salesforce Ventures invests in Autify


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1. SaaS companies struggled in the markets during September, RBC Capital Markets reports. According to RBC, the average return for the 21 SaaS companies it analyzed (which include major SaaS players like Salesforce, Oracle, Adobe, Microsoft, Zoom, and Dropbox) was -5.9 percent. Meanwhile, the S&P 500 index gained 1.7 percent. RBC says past trends indicate SaaS companies could fall another 25 percent this year. "On this comparative basis, it suggests we're potentially only in the middle innings of a drawdown," the firm said. - MARKETS INSIDER


2. Bank of America Merrill Lynch predicts the Indian software industry will grow from $8 billion to a $50-billion market, thus turning the country into a global software hubthanks to SaaS. Companies like Tata Consultancy Services Ltd., Infosys Ltd., and HCL Technologies Ltd. will contribute towards this growth, the report says, as will startups like Freshworks, Druva Software, Capillary Technologies. However, even smaller names such as Affle India Ltd. and Oracle Financial Services Software Ltd will help drive India's software industry growth through SaaS. Bank of America Merrill Lynch did not provide a specific time frame as to when they expect this could happen. - BLOOMBERG QUINT


3. Salesforce Ventures partly led a $2.5 million seed round investing in AI-backed software testing automation platform, AutifyGlobal Brain and Archetype Ventures also led the round. Autify will use the funds to explore global markets, accelerate product development, and to improve sales systems. - TECH IN ASIA


4. Research in Action named B2B sales enablement and marketing enablement software leader Seismic a market leader. In its recently released report, "Vendor Selection Matrix – Sales Engagement Management SaaS And Software: The Top 20 Global Vendors 2019," Research in Action analyzed the strategies and more of 20 sales engagement management SaaS and software vendors. It found Seismic outperformed the others thanks to its product innovation, customer success, its strong acquisition and expansion strategy, and other factors. “Research in Action’s Vendor Selection Matrix is unique in how heavily it weights the opinions and feedback of practitioners and users,” said Peter O’Neill, Research Director, Research in Action. "Based on the overwhelmingly positive scores Seismic received from customers, and Research in Action’s analyst evaluation, I’m confident that Seismic is perfectly-equipped to deliver on this need and continue to lead the space.” - MAR TECH SERIES


5. Just-in-time digital adoption platform Spekit raised $2.54 million in a seed round. The round was led by Bonfire Ventures, while Matchstick Ventures and Zoom investor Dan Scheinman participating. Spekit was launched in 2018 at Salesforce’s Dreamforce, and offers a simple platform that allows teams to "automatically track key processes, maintain up-to-date training and establish a consistent learning experience across all applications." - THE STATE JOURNAL


6. SaaSOptics, a B2B subscription management platform that provides subscription and order management, raised $12 million in the form of equity and debt, as well as a line of credit from Silicon Valley Bank. The Series B round was led by Fulcrum Equity Partners. The platform will use the funds to continue to scale sales, marketing, customer success and support teams, as well as add more engineering and product management resources. - TECH STARTUPS


7. This piece delves into some of the top presentations that will be led by women during SaaStock19, Europe's largest SaaS focused event, participants should not miss. Speakers on the list include the COO of Stripe and the CMO of SurveyMonkey. The event will take place Oct. 14-16. - SILICON REPUBLIC


8. Leading provider of SaaS-based enterprise data protection Cobalt Iron announced it has renamed its SaaS data protection platform. Previously called Adaptive Data Protection, the platform has been renamed Cobalt Iron Compass. "Defining our platform with the name 'Compass' marks a milestone for us as a company and as a technology leader in the industry," said Andy Hurt, chief marketing officer of Cobalt Iron. "The name reflects our commitment to empowering companies to improve their data protection outcomes." - COBALT IRON


9. Software platform Sorted is partnering with online luxury fashion retail platform Farfetch. Farfetch will be using Sorted to scale its delivery management capabilities on an international level. "As Farfetch continues to grow globally, it is important for us to work with a partner who is able to offer us a world-class, innovative, and globally scalable platform to handle our deliveries. Sorted is able to meet that demand for us, and we’re excited to be working with them," Stuart Hill, VP Logistics, at Farfetch, said. - BUSINESS CLOUD


10. Recruitment startup TalentPool, which uses AI and machine-learning to connect jobseekers with startups and SMEs, has raised roughly $1.2 million to grow its Alvius SaaS platform. The startup will use Alvius to automate application filtering and more, while also matching candidates to suitable roles. “Now employers can use our software to create their own talent platforms, replacing slow and inefficient sourcing and selection processes and matching great talent with current opportunities in a fraction of the time," said Andrew Lavelle, co-founder of TalentPool and managing director of Alvius. - BDAILY


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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