Funding Watch is Localogy’s series that tracks funding to SMB-focused startups and tech providers. See the rest of the series here.
Things continue to heat up in SMB Saas. For those unfamiliar, this sector is represented by companies that build software tools for small businesses. It’s everything from “front of the house” marketing and customer acquisition tools, to “back of the house,” operational management (think: payroll).
This is a wide range of companies and opportunities, as shown in Localogy Insider’s daily coverage. As a byproduct of that editorial process, we’re exposed to lots of deal flow (even in the current environment). So for the latest Funding Watch post, we’re rounding up recent SMB-Saas funding inflows.
Here’s the latest roundup of the top 10-funding rounds, listed in order of investment dollars. Similar to the last few roundups, this batch continues to reflect Covid-era demand signals and investor theses. This includes lots of eCommerce and remote employee management.
Employee data management provider Rippling has closed a $145 million Series B funding round led by founders fund, with participation from Greenoaks Capital, Coatue Management and Bedrock Capital, Kleiner Perkins, Initialized Capital and Y Combinator. The company helps businesses streamline employee data and management, including remote work logistics.
Israeli eCommerced-focused Marketing cloud provider Yotpo has raised a $75 million Series E funding round from Bessemer Venture Partners, Access Industries, Vertex Ventures, and Hanaco. The company provides cloud-based marketing and CRM optimization for e-Commerce operations of all sizes.
Lehi, Utah-based eCommerce optimization startup Pattern has raised $52 million in growth funding from Ainge Advisory and KSV Global. The company helps large and small brands maximize sales on online markeplaces including Amazon , eBay, Walmart and Google Shopping.
Sales document workflow startup PandaDoc has raised a $30 million Series B extension which brings its total Series B funding to $50 million. One Peak led the investment, with participation from Microsoft’s Venture Fund (M12), Savano Capital Partners, Rembrandt Venture Partners and EBRD Venture Capital Investment Programme.
Restaurant booking and loyalty startup Seated has raised a $30 million post-seed round led by Insight Partners and Craft Ventures with participation from Greycroft and Rho Capital Partners. The company rewards restaurant patrons with gift-card credits from Amazon, Nike, Sephora and other top brands.
eMail marketing startup Movable Ink has raised $30 million in Series C funding from Contour Venture Partners, Intel Capital and Silver Lake Waterman. The company helps businesses run more personalized and targeted email marketing campaigns, including emerging features like augmented-reality based product try-ons.
Chinese HR software startup Moka has raised a $14.4 million Series B extension from unnamed investors, bringing its total B round to $43.2 million. The company’s software helps small businesses or HR managers streamline all employee-based workflows including recruiting/hiring, comp and staff management.
Price optimization startup Datasembly has raised a $10.3 million series A round led by Craft Ventures with participation from Valor Siren Ventures. The company helps businesses pinpoint optimal price points for their products, using market data and AI.
Jakarta-based restaurant management software provider Wahyoo has raised $5 million in Series A funding led by Intudo Ventures with participation from Kinesys Group, Amatil X, Arkblu Capital, Indogen Capital and others. The company helps small eateries in Indonesia manage all aspects of food service and operations.
Job candidate communications software provider Welcome has raised $1.4 million from Ludlow Ventures, the Weekend Fund, Global Founders Capital, both Shrug and Basement. The company lets businesses more effectively communicate job offers, terms, compensation and other key variables to prospective hires.