S|W: The SaaS Weekly – VMwares for sale… sold!
Plus: Humi closes the $ 31 million B-Series.
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Canadian human resources startup Humi secures $ 31 million B series (BETAKIT)
With a focus on providing HR technology specifically tailored to Canadian companies, Humi seeks to expand the capabilities of its platform and meet what it says is a growing demand for its solution.
Broadcom to buy VMware for $ 61 million in record technology deal (BNN BLOOMBERG)
VMware shareholders can choose to receive $ 142.50 in cash or 0.2520 Broadcom shares for each VMware share, according to a statement on Thursday. The offer represents a 44% premium to VMware’s closing price on May 20, the last trading day before Bloomberg News reported the acquisition talks.
LimaCharlie closes $ 7 million CAD to enable companies to manage and develop cybersecurity strategies (BETAKIT)
LimaCharlie provides security engineering teams with the tools and infrastructure to create and execute their own security positions. So far, LimaCharlie’s growth has been achieved through word of mouth. Armed with fresh capital, the company has begun to increase its marketing efforts with the incorporation of its first sales and marketing employees.
Elon Musk to contribute $ 6 billion to withdraw Tesla loans from Twitter agreement (THE VERGE)
After a brutal month for Tesla shares, Elon Musk will no longer fund his Twitter purchase by taking out loans against his Tesla-owned stake. In a presentation to the SEC, Musk announced the expiration of a series of margin loans against Tesla shares that were included in his original plan to buy Twitter. Twitter shareholders, meanwhile, have sued Musk over the chaotic acquisition, calling his bot’s complaints part of a scheme to negotiate a better price or end the deal.
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Led by former Shopify executive, Trexity on-demand delivery service raises $ 5 million for Canadian expansion (BETAKIT)
The capital will also allow Trexity to increase its stake in its current markets in Ottawa, Toronto, Calgary and Winnipeg, and hire 10 to 15 employees over the next six months for its marketing, sales and engineering teams. Trexity currently has 26 employees.
Monte Carlo raises $ 135 million from the D series at a price of $ 1.6 million, proving that unicorn rounds are still a thing (TECHCRUNCH)
The round is an interesting echo of the 2021 fundraising market, which cheered our ears when we found out about the capital event; How did a startup get such a round in 2022, when the late stage market is in the tank, valuations are under pressure and growth has generally lost some of its appeal as investors do they pursue companies with higher profitability and cash flow stability?
The federal government wants to address Canada’s intellectual property issues, but is its strategy paying off? (BETAKIT)
While companies like Ranovus show how Canadian technology companies can scale up through the development of IP, many stakeholders in the IP industry believe that most Canadian startups do not get value from their IP, which has put the Canada lags behind its peers in the global IP rights race. .
Zenius of Indonesia fires more than 200 employees (TECH IN ASIA)
Indonesia’s Zenius edtech is laying off more than 200 employees amid the global economic downturn, more than 20 percent of its workforce. San Jose-based cloud security firm Lacework has followed suit, reducing its workforce by 20 percent as part of an effort to restructure its business.
Unbounce expands leadership team with incorporation of Indochino, RBC Ventures and Mapbox students (BETAKIT)
Housley brings more than 20 years of C-Suite experience to a variety of Unbounce consumer brands, including Indochino, Milestones, Lavalife and Hudson’s Bay. Sieben, meanwhile, joins Unbounce after spending the last four years at RBC Ventures and the RBC-based Broadband app, while El-Hilo recently worked as a data platform chief at the data company. Mapbox Location Map
Sequoia warns founders of “Crucible Moment”, advises how to “avoid the spiral of death” (THE INFORMATION)
Over the years, Sequoia, the venture capitalist behind Google, Apple and Airbnb, has developed a reputation as a technology industry Cassandra, through notes and presentations it shared with the leaders of its portfolio companies. during past macroeconomic crises. In 2008, this took the form of a 56-slide survival guide to the Great Recession, entitled “RIP Good Times.” In early 2020, when the pandemic began to change the economy, Sequoia sent its founders a sad note entitled “Coronavirus: The Black Swan of 2020.”
Canadian innovators wonder what the proposed RS & DE review will achieve (BETAKIT)
Speaking by phone with BetaKit, Munro noted that the Scientific Research and Experimental Development program, better known as RS&DE, does not work, in his opinion. But he was not convinced that another $ 4 billion annual program review would fix things. After all, the RS & DE program has been reviewed and revised almost constantly since it was first established in 1944.
The technology used by educators in the sudden change in children’s personal information shared in the online school, shows the research (THE BALLOON AND THE MAIL)
Millions of students in Canada and around the world received their personal information from advertisers and data intermediaries when governments made a sudden change to e-learning during the pandemic, according to a new report that reveals gaps security in educational technology.
Dependbuild, Easy Platter, PragmaClin Research win $ 75,000 collective in Volta launch competition (BETAKIT)
The winners beat 7 more competitors at this year’s Volta Cohort Pitch Event, the first face-to-face edition of the contest since the pandemic began in 2020. In the past, Volta used to select five winners from ten, opting this year. by choice only three. A Volta spokesman told BetaKit that each contest awards up to five investments, noting that there is no guarantee that all five will be distributed.
Substack stops fundraising efforts as the market gets worse (THE NEW YORK TIMES)
Amid a sector-wide recession, risk investors are preaching austerity and slowing down new deals, especially for companies that have spent aggressively on growth.