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 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). You may detect a pattern of investments driven by Covid-era demand signals, and the reopening of local commerce. We’ll be back semi-weekly with 10 more, as the investment landscape continues to shift.


Design software innovator Figma has closed $50 million in Series D funding, led by Andreessen Horowitz with participation from Index, Greylock, KPCB, Sequoia and Founders Fund. Figma democratizes advanced graphic design work for SMBs and small teams, with an emphasis on remote collaboration.

Pizza shop management platform Slice has raised a $43 million Series C round from global investment firm KKR. As we’ve covered on Localogy Insider, Slice embodies SMB SaaS through a comprehensive operational suite for the pizza sub-vertical. As expected, it’s order and delivery volume is up.

Maintenance and operations software provider UpKeep has closed a $36 million Series B round led by Insight Partners, with participation from Emergence Capital, Battery Ventures, Y Combinator, Mucker Capital and Fundersclub. It helps facilities maintenance pros optimize and automate daily operations.

Workforce management company FortressIQ has closed a $30 million Series B round led by Microsoft’s M12 and Tiger Global Management with participation from Boldstart Ventures, Comcast Ventures, Eniac Ventures and Lightspeed Venture Partners. The company helps businesses manage internal processes such as employee equipment allocation and remote workflows.

U.K. fintech startup ANNA has closed a $21 million strategic investment from ABHH Group, owner of the Amsterdam Trade Bank which will incorporate the technology into its own systems. ANNA provides an SMB-focused account and tax management app.

U.K. fintech startup Modulr has raised a £18.9 million growth round led by Highland Europe with participation from Frog Capital and other existing investors. The company offers a ‘Payments as a Service’ product to businesses as an alternative to commercial and wholesale transaction banking.

Employee communications platform Workvivo has raised $16 million in Series A funding led by Tiger Global with participation from Frontline Ventures and Enterprise Ireland. The company’s internal communications software helps businesses organize remote employees, with a particular emphasis on establishing and maintaining company culture.

Logistics software provider Shiprocket has raised $13 million in Series C funding led by Tribe Capital with participation from Innoven Capital and Bertelsmann India Investments. The company democratizes advanced logistics and shipping operations for small businesses, direct-to-consumer (DTC) companies and online influencers that ship apparel.

Construction project-management platform Construyo has raised €2 million in seed funding from Talis Capital. Its software helps construction firms connect sub-verticals like architecture and engineering, thus lowering cost and increasing efficiencies for renovating and building projects.

Home services booking platform GoodWork has raised a $1.6 million seed round led by Chaac Ventures with participation from Elysium Ventures, Kairos K50, and angel investors from Facebook and Snapchat. The company provides a marketplace for home services in Southeast Asia, pivoting recently to a specialization in cleaning and disinfecting work.

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Funding Watch: The Localogy Global Investment Roundup

While covering all the SMB Saas action for Localogy Insider, we’re exposed to lots of deal flow… even in the current environment. So we’re packaging all of that up for you in the latest Funding Watch roundup of SMB-Saas funding inflows.