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 we examine in an upcoming white paper. And while following the sector on an ongoing basis, we’re struck by the level of venture funding it’s receiving. So for the latest Funding Watch post, we’re rounding recent SMB-Saas funding inflows.
Here’s the latest roundup of the top 10 funding rounds (listed in order of investment dollars). We’ll be back semi-weekly with 10 more, as the year is off to a big start in SMB SaaS investment:
Building-security software provider Verkada has raised an $80 million Series C round led by Felicis Ventures. The company democratizes high-end enterprise security management systems for smaller businesses and building management companies. This includes end-to-end coverage of cameras, software and viewing stations for monitoring.
Mobile messaging software provider Attentive has raised a $70 million Series C round led by Sequoia, IVP, Eniac Ventures and NextView Ventures. The company helps businesses manage their SMS and messaging communications with customers and potential customers, a growing trend under the conversational commerce umbrella.
IT software provider Opsramp has closed a $37.5 million funding round led by Morgan Stanley Expansion Capital, with participation from Sapphire Ventures and Hewlett Packard Enterprise. The company helps small and large businesses monitor and manage IT systems and hybrid environments.
AI-fueled transcription software Otter.ai has raised $23 million in strategic investment from NTT DOCOMO Ventures, Fusion Fund, GGV Capital, Draper Dragon Fund, Duke University Innovation Fund, Harris Barton Asset Management, Slow Ventures, Horizons Ventures, and others. The funds will be used to propel Otter’s expansion in the Japanese market.
AR-driven remote collaboration firm Spatial has raised a $14 million Series A round, led by White Star Capital, iNovia and Kakao Ventures, with participation from Baidu, Mark Pincus, and Instagram co-founder Mike Krieger. As we wrote recently, the company’s software powers remote collaboration and productivity, a timely value proposition.
Patient data management software company Medloop has raised €6 million from Kamet Ventures and AXA. The company’s self-serve consumer app allows doctors offices to set patients up to manage their own healthcare, including appointment bookings, test results and prescription refills.
Trucking management software provider CloudTrucks has closed $6.1 million in funding from Craft Ventures, Khosla Ventures, Kindred Ventures, and Abstract Ventures. The “business in a box” trucking software lets truck owners or SMB small fleet operators optimize their logistics, operations and yield management.
Construction-geared robotics firm Scaled Robotics has raised a €2 million seed investment, led by European firms Norwegian Construct Venture and PropTech Fund Surplus. The firm provides robots to aid and automate commercial and residential construction projects.
Website testing software company Maze has raised a $2 million funding round led by Amplify Partners with participation from Seedcamp, ParTech, Eric Wittman, Peter Skomoroch and Olivier Pomel. The firm’s software makes it easier for companies to prototype and optimize the design and usability of their websites.
SMB-focused phone management software provider OpenPhone raised $2 million in funding led by Slow Ventures. Like Google Voice, it lets SMBs get a business phone number without a second phone or SIM card. This professionalizes their communications with a dedicated business line and management tools.