Funding Watch: The Localogy Global Investment Roundup

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 shifting investor theses. This includes lots of eCommerce and remote employee management.

— Amsterdam-based cloud communications company MessageBird has raised $200 million in Series C funding led by Spark Capital, with participation from Bonnier, Glynn Capital, LGT Lightstone, Longbow, Mousse Partners and NewView Capital. The company provides Twilio-like communications APIs with a focus on the European market.

— SMB payments and marketing agency Fivestars has raised $52.5 million in Series Series D equity and debt, led by Salt Partners, with participation from Lightspeed Venture Partners, DCM Ventures, Menlo Ventures and HarbourVest Partners. The company lowers friction for SMB digital presence, customer acquisition and payment processing.

— eCommerce startup Shogun has raised $35 million in Series B funding led by Accel, with participation from Initialized Capital, VMG Partners and Y Combinator. The company provides software that helps businesses build sleek and professional websites that sit on top of eCommerce platforms like Shopify and Magento.

— Digital security startup Axis Security has raised $32 million in Series B funding led by Canaan Partners, with participation from Ten Eleven Ventures and Cyberstarts. The company helps businesses activate and manage remote employees, customers or contractors on its systems in a secure way.

— The “Shopify of Latin America” Nuvemshop has raised $30 million in growth capital led by Kaszek Ventures and Qualcomm, with participation from FJ Labs, IGNIA, and Elevar Equity. The company democratizes eCommerce for SMBs, with a specific focus and specialty on the LatAm market.

— eCommerce logistics and enablement startup Whitebox has raised $18 million in Series B funding led by Alan Taetle of Noro-Moseley Partners, with participation from TDF Ventures and other angels. The company manages eCommerce logistics and fulfillment for companies of all sizes.

— London-based SaaS communications startup Qatalog has raised $15 million in Series A Funding from Atomico, Salesforce Ventures and several angels. The company develops a “virtual workspace” that enables remote workers stay productive and integrated with existing tools like Slack, Zoom, Asana and Google Workspace.

— B2B cannabis logistics company Nabis has raised $5 million in Series A funding from Y Combinator, Babel Ventures, Liquid 2 Ventures, Soma Capital and several angels. The company offers Cannabis-based business specialized and regulated services such as distribution, payments and warehousing.

— Customer service software startup Digital Brain has received $3.4 million in seed funding led by Moxxie Ventures, with participation from Caffeinated Capital, Unshackled Ventures, Shrug Capital, Weekend Fund, Underscore VC and Scribble Ventures. The company’s software sits on top of customer service platforms like Zendesk and streamlines task completion for customer service agents.

— Cannabis startup Trym has raised a $3.1 million seed round led by thirty Capital and Delta Emerald Ventures, with participation from Welcan Capital, Arcview Collective Fund and others. The company provides software that optimizes cannabis crop cultivation from “seed to sale.”

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