enterprise software
China SaaS: Path to profitability
COVID-19 has driven enterprise uptake of software-as-a-service solutions in China, but paying customers are still relatively few. Other markets offer some pointers on monetization
Deal focus: Investors flock to SaaS specialist Ones
China’s Ones aspires to become Atlassian rather than Slack, catering to software developers working on complicated projects. Effective localization is partly responsible for a surge in VC investment
India's Freshworks flourishes on NASDAQ debut
Freshworks, one of India's leading software-as-a-service (SaaS) businesses, traded strongly on its NASDAQ debut following a $1 billion IPO.
Australia's Canva raises $200m at $40b valuation
Australian design and workplace collaboration platform Canva has raised $200 million at a valuation of $40 billion - up from $15 billion five months ago and $3.2 billion in 2019.
India's FreshWorks targets $912m US IPO
Freshworks, which earlier this year lost its status as India’s most valuable software-as-a-service (SaaS) start-up, is looking to raise up to $912 million through a US IPO.
Australia's SiteMinder secures $73m pre-IPO round
Australia-based hotel booking platform SiteMinder has raised a A$100 million ($73 million) pre-IPO round led by BlackRock and AustralianSuper.
India blue-collar HR start-up gets $24m
Indian blue-collar workforce management platform BetterPlace has raised a $24 million Series C round led by CX Partners and Jungle Ventures.
China data storage software start-ups gets $110m
Boyu Capital has led a RMB710 million ($110 million) Series E round for China-based data storage software services provider XSKY.
KKR leads Series B for Vietnam MSME digitalization platform
KKR has led a $45 million Series B funding round for KiotViet, a sales management software developer that serves Vietnam’s micro, small and medium-sized enterprise (MSME) community.
Deal focus: Ekuaibao’s PaaS plus SaaS proposition
China-based reimbursement platform Ekuaibao has ambitions to lead the digital transformation of corporate finance. Early investor Future Capital continues to re-up as the story unfolds
Stellaris closes second India VC fund on $225m
Stellaris Venture Partners has closed its second early-stage India fund on $225 million, comfortably exceeding the $160 million target while diversifying the LP base.
Baring acquires Hinduja healthcare business for $1.2b
Baring Private Equity Asia has agreed to buy a healthcare services unit of Anglo-Indian conglomerate Hinduja Group at an enterprise valuation of $1.2 billion.
Affinity exits Australia healthcare software business
Affinity Equity Partners has agreed to sell MedicalDirector, an Australia-based clinic management software developer, to Telstra Health for an enterprise valuation of A$350 million ($257 million).
India's MindTickle closes $100m Series E
SoftBank Vision Fund 2 has continued its recent streak of investing in unicorns out of India by leading a $100 million Series E round for sales enablement platform MindTickle at a valuation of $1.2 billion.
Accel-KKR buys majority stake in New Zealand's Unimarket
Accel-KKR, a PE firm created by Accel Partners and KKR, has acquired a majority stake in New Zealand’s Unimarket, a diversified procurement marketplace, for an undisclosed sum.
EQT pursues $2.2b Australia software take-private
Iress, an Australia-listed software developer that serves the financial services sector, has invited EQT to conduct further due diligence following receipt of a take-private offer worth up to A$3 billion ($2.2 billion).
TDM, Sequoia lead Series F for Australia's Culture Amp
Culture Amp, an Australia-headquartered enterprise technology provider specializing in human resources (HR), has $100 million in Series F funding at a valuation of $1.5 billion.
Taiwan video SaaS start-up raises $16m Series B
Kdan Mobile Software, a Taiwanese software-as-a-service company focused on corporate video and design services, has raised a $16 million Series B round featuring WI Harper Group.
AppWorks leads $12m round for Singapore's Tinvio
Taiwanese accelerator and VC investor AppWorks has led a $12 million round for Singapore-based enterprise services platform Tinvio.
India auto software provider LocoNav raises $37m
LocoNav, an Indian vehicle fleet software provider, has raised $37 million in Series B funding from a group of investors including Sequoia Capital India.
VC-backed Australia cloud business sold to US strategic
Panviva, an Australian cloud-based enterprise software provider backed by a number of venture capital investors, has been acquired by US counterpart Upland Software for about $23.3 million.
India-founded SaaS start-up BrowserStack raises $200m
KPCB growth-stage spinout Bond has led a $200 million Series B round for BrowserStack, a software testing platform established by two Indian entrepreneurs.
ChrysCapital exits US-based Infogain to Apax
ChrysCapital has exited Silicon Valley-based Infogain – an IT services provider that helped solidify the US-India cross-border opportunity set – to Apax Partners.
Q&A: Yunqi Partners’ Yipin Ng
Pre-pandemic, it was unclear whether China’s software-as-a-service (SaaS) industry could achieve monetization. Much has changed since then, says Yipin Ng, co-founder and managing partner of Yunqi Partners