ICERTIS VALUATION
Goldman Sachs nears $30-50 million MoEngage deal in signs of SaaS deals comeback
Goldman Sachs targets $35-50 million in MoEngage via secondary transaction. MoEngage, valued at $700 million in 2022 led by Goldman and B Capital, has clients including Flipkart. IFC invested in Innovaccer; Whatfix by Warburg Pincus; Icertis, SoftBank. Atlan received funds from GIC, Meritech. Noteworthy: Eight Roads Ventures, SaaS valuation multiples, Bessemer Venture Partners.
Warburg Pincus may lead $100-150 million funding round in Saas firm Whatfix
Private equity firm Warburg Pincus is set to lead a $100-150 million funding round in SoftBank-backed SaaS firm Whatfix, with participation expected from SoftBank and early investors Helion Venture Partners and Eight Roads Ventures. Whatfix is said to be clocking an annual recurring revenue of $70-75 million.
Digit IPO: tempering tech valuations & other top startup stories this week
This is Pratik Bhakta in Bengaluru. Insurance startup Digit, by valuing itself at a discount of 25% to its last known private market valuation, seems to have stuck its neck out. And it’s a move that’s certainly got everyone talking.
Digit cuts valuation for IPO; Internet firms vs Google in NCLAT
Insurtech startup Digit is eyeing a discounted $3 billion valuation through its proposed public offering. Details on this and more in today’s ETtech Top 5.
SoftBank back at deal counter with Icertis deal talks
Tech VC in funding talks with portfolio co Icertis, which is stitching up a $150m secondary round
Data collaboration software firm Atlan raises $105 million; valuation nearly doubles to $750 million
Funding led by Singapore's GIC and US-based Meritech Capital values startup at $750 million, up from $450 million in March 2022 when it last raised funds
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Atlan’s valuation nearly doubles; decoding PB Fintech’s FY24 financials
Data collaboration software startup Atlan has raised $105 million at nearly double the valuation since its last round. Details on this and more in today’s ETtech Top 5.
Paytm’s lending biz in trouble; inside Tata Digital’s top-level churn
Happy Wednesday! Paytm’s lending business has hit a roadblock as partner NBFCs have stopped issuing loans. This and more in today’s ETtech Morning Dispatch.
EV company Exponent eyes $25 million at $100-120 million valuation
Exponent Energy had last raised $13 million in August 2022 in a Series A led by Lightspeed that valued the Bengaluru-based startup at around $45 million.
SaaS startup Icertis raises $150 million funding from Silicon Valley Bank
The company said on Monday that it would use the funds to further accelerate the adoption of technologies such as artificial intelligence (AI), machine learning, and blockchain.
SaaS firm Chargebee raises $250 million, valuation jumps to $3.5 billion
Chargebee said it plans to use the new capital for product development and global expansion to support the billing and revenue needs of current and future subscription businesses.
SAP picks up minority stake in Icertis, valuation likely tops $5 billion
Icertis, a cloud-based enterprise contract management platform that counts Airbus, Cognizant, Microsoft, and Roche as customers, is expected to deepen its existing partnership with SAP following the investment.
SaaS space heats up with big deals at Chargebee, Innovaccer as valuations soar
Investors continue to back Indian cross-border enterprises building products that attract global clients
Mindtickle becomes a unicorn after SoftBank-led funding
Existing backers including Norwest Venture Partners and Qualcomm Ventures participated in the $100 million round that has more than doubled Mindtickle’s valuation.
Icertis says revenue rose 60% in H1 of 2021
From January to June 2021, the Bellevue, Washington-based company said it posted a 60% increase in revenue from a year earlier, leadership additions and expansion deals, underscoring rising demand in the sector. It did not reveal the revenue amount.
The SaaS gold rush
In today's ETtech Morning Dispatch newsletter: BrowserStack have become the most-valued Indian SaaS startup; Twitter's tussle wih the government hots up; and Facebook co-founder bets on Pharmeasy amid Tata-1mg deal.
BrowserStack becomes India's highest-valued SaaS firm after fresh funding
The $200 million fundraise values Browserstack at $4 billion, making it among the highest valued software-as-a-service (SaaS) startups to have come out of India so far.
MindTickle to turn unicorn with $100 million funding from SoftBank
After social commerce startup Meesho and banking technology platform Zeta, SoftBank is set to put another $100 million in SaaS startup MindTickle, creating another startup with a billion-dollar valuation.
BrowserStack hits $4B valuation, RS Prasad criticises Twitter
From BrowserStack's new funding round to SoftBank-Mindtickle's potential deal and PUBG parent's upcoming IPO, here's a quick look at the top tech news today.
Zenoti raises $80 million in funding round led by TPG
The latest capital infusion, which pegs Zenoti’s post-money valuation at $1.5 billion, is an extension of the SaaS startup's Series D funding round in December 2020.
SoftBank leads Whatfix’s $90 million funding round, valuation quadruples
The Whatfix funding comes amid reports that SoftBank Vision Fund II is in talks to invest in multiple Indian startups, including Flipkart, Swiggy and OfBusiness.
Icertis adds former Xerox CEO Ursula Burns to advisory board
Ursula Burns joins Icertis’ advisory board after the company said it’s raising $80-million in a Series F funding found at a valuation of more than $2.8 billion.
ETtech Deals Digest: Icertis valuation trebles, PUBG buys into Nodwin
Key deals during 8-12 March 2021: SaaS startup Icertis gets $80 million funding at triple the valuation; PUBG owner Krafton invests in Nazara-backed Nodwin; and VerSe Innovation acquires Vebble for its Josh app.
Icertis raises $80 million funding at $2.8 billion valuation
Icertis, a Pune-based software firm, will use the funding to fuel its expansion plans and product development, CEO Samir Bodas says.
Innovaccer blazes into unicorn club as valuation trebles in seven months
SaaS startup Innovaccer has raised $115 million in Series D funding at a valuation of $1.3 billion.
SoftBank leads MindTickle's $100 million round; valuation doubles to about $500M
SoftBank Vision Fund 2 was joined by existing backers Norwest, Canaan, NewView Capital, Qualcomm Ventures
Postman in talks to raise $150 million
Postman is a collaboration platform for managing, developing and testing application programme interfaces (APIs). Postman, among the buzziest Indian SaaS companies, was valued at $350 million just a year ago, and if the deal goes through it will be one of the biggest jumps in valuation for an Indian startup, catapulting the company into the growing Indian SaaS unicorn club comprising Freshworks, Druva and Icertis.
Icertis eyes industry-specific tools
Icertis offers clients a contract management platform, which has apps built on top of it, helping large companies such as Microsoft and Airbus manage their contracts. The Pune-based unicorn works with five of the ten most valuable companies in the world.
India's startup scene isn't as sexy as China's, but it's growing
India’s startup scene is relatively new compared with China’s, and its economy is much smaller despite their populations being of similar size.
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