S|W: The SaaS Weekly – VMwares for sale…sold!

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More: Humi closes Series B at $31 million.

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Canadian HR startup Humi secures $31M Series B (BETAKIT)

With a focus on providing HR technologies specifically tailored to Canadian businesses, Humi is looking to expand the capabilities of its platform and meet what it says is growing demand for its solution.


Broadcom to buy VMware for $61 billion in record tech deal (BNN BLOOMBERG)

VMware shareholders can choose to receive either $142.50 in cash or 0.2520 Broadcom shares for each VMware share, according to a statement released Thursday. The offer represents a premium of around 44% to VMware’s closing price on May 20, the last trading day before Bloomberg News announced takeover talks.


LimaCharlie closes C$7 million to enable companies to manage and develop cybersecurity strategies (BETAKIT)

LimaCharlie provides security engineering teams with the tools and infrastructure to create and manage their own security postures. To date, LimaCharlie’s growth has been through word of mouth. Armed with new capital, the company began to ramp up its go-to-market efforts with the addition of its first sales and marketing employees.


Elon Musk will invest $6 billion to drop Tesla loans from his Twitter deal (THE VERGE)

After a brutal month for Tesla shares, Elon Musk will no longer fund his takeover of Twitter by borrowing against his stake in Tesla. In a filing with the SEC, Musk announced the expiration of a series of margin loans against Tesla stock that were included in his original plan to buy Twitter. Meanwhile, Twitter shareholders have sued Musk over the chaotic acquisition, calling his bot part of a ploy to negotiate a better price or kill the deal.


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Led by a former Shopify exec, on-demand delivery service Trexity raises $5 million for expansion in Canada (BETAKIT)

The capital will also enable Trexity to increase its engagement in its current markets of Ottawa, Toronto, Calgary and Winnipeg, and to hire 10-15 employees over the next six months for its marketing, sales and engineering. Currently, Trexity has 26 employees.


Monte Carlo raises $135M in Series D at $1.6B price point, showing unicorn rounds are still a thing (TECHCRUNCH)

The round is an interesting echo of the 2021 fundraising market, making our ears perk up when we caught wind of the momentous event; how could a start-up raise such a round in 2022, when the late-stage market is in the tank, valuations are under pressure and growth, more generally, has lost some of its appeal as investors seek companies with greater profitability and cash flow stability?


The federal government wants to tackle Canada’s intellectual property problems, but is its strategy working? (BETAKIT)

While companies like Ranovus demonstrate how Canadian technology companies can scale through IP development, many in the IP industry believe that most Canadian startups do not derive value from their IP, which has placed the Canada behind its peers in the global race for IP rights. .


Zenius in Indonesia lays off more than 200 employees (TECH IN ASIA)

Indonesian edtech Zenius is laying off more than 200 employees amid the global economic downturn, more than 20% of its workforce. Lacework, a San Jose-based cloud security company, followed suit, cutting 20% ​​of its workforce as part of an effort to restructure its business.


Unbounce expands leadership team with addition of Indochino, RBC Ventures, Mapbox alums (BETAKIT)

Housley brings to Unbounce over 20 years of C-Suite level experience at various consumer brands including Indochino, Milestones, Lavalife and Hudson’s Bay. Meanwhile, Sieben comes to Unbounce after spending the past four years at RBC Ventures and Ampli, the Toronto-based RBC-powered cashback app, while El-Hilo most recently worked as a platform manager. data form Washington location data company Mapbox.


Sequoia Warns ‘Crucible Moment’ Founders, Advise ‘Avoid Death Spiral’ (THE NEWS)

Over the years, Sequoia, the venture capital firm behind Google, Apple, and Airbnb, has earned a reputation as Cassandra of the tech industry, thanks to memos and presentations she’s shared with executives at its portfolio companies during past macroeconomic crises. In 2008, this took the form of a 56-slide Great Recession survival guide called “RIP Good Times”. In early 2020, as the pandemic began to upend the economy, Sequoia sent its founders a grim memo titled “Coronavirus: The Black Swan of 2020.”


Canadian innovators wonder what proposed SR&ED review will accomplish (BETAKIT)

Speaking on the phone with BetaKit, Munro noted that the scientific research and experimental development program — better known as SR&ED — isn’t working, in his view. But he wasn’t convinced that another review of the $4 billion annual program would fix things. After all, the SR&ED program has been modified and revised almost constantly since its inception in 1944.


Technology used by educators during abrupt shift to online school shared children’s personal information, investigative broadcasts (THE GLOBE AND MAIL)

Millions of students in Canada and around the world had their personal information sent to advertisers and data brokers when governments abruptly shifted to online learning during the pandemic, new report finds gaps in safety in educational technologies.


Dependbuild, Easy Platter and PragmaClin Research Collectively Win $75,000 in Volta Pitch Competition (BETAKIT)

The winners beat out 7 other competitors at this year’s Volta Cohort Pitch Event, the competition’s first in-person edition since the pandemic began in 2020. In the past, Volta typically selected five winners from the ten, opting this year for choose only three. A Volta spokesperson told BetaKit that each competition awards up to five investments, noting that there is no guarantee that all five will be awarded.


Substack abandons fundraising efforts as market crashes (THE NEW YORK TIMES)

Amid an industry-wide downturn, venture capitalists are preaching austerity and halting new deals, especially for companies that have been spending aggressively to grow.


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