2021 SaaS class sees less market carnage, unusual startups take top rounds, and more - October 31, 2022

October 31, 2022 [SaaS class of 2021 is down but not out]( Most of the factors that conspired last year to make it a crazy bullish period for SaaS offerings have reversed. That goes a long way to explain why SaaS companies that debuted to multibillion-dollar market caps in 2021 are now almost universally trading well below their offer price. We take a look. [Top 10 funding rounds: Ascend Elements cashes in; OpenWeb’s big deal]( Once upon a time not that long ago, fintech, cybersecurity and crypto would dominate this list. But the top three recent biggest rounds were raised by a battery recycler, a social platform and a loyalty rewards program. [The week in layoffs: Zillow, Cerebral and Argo AI join the list]( Tech layoffs have been prevalent throughout 2022 and it appears the trend will continue through the rest of the year. We updated our weekly tracker of which companies have cut staff. [Funding to Latine-founded US companies falls sharply in 2022]( Venture funding is down all around, but this year’s pullback is hitting Latine-funded companies in the U.S. particularly hard. Funding to Latine-funded companies fell more than 80% in third-quarter 2022, both quarter over quarter and year over year. [IPO returns show fashion startups were not runway ready]( Venture capitalists are not known for their fashion sense. Turns out, they haven’t been doing well lately with fashion-related IPOs either. A Crunchbase survey of six venture-backed companies in the clothing and accessories industry that went public last year shows an average post-IPO decline of 74%. [Web3 funding sees huge drop as big rounds dip]( It looks like venture capitalists’ love affair with Web3 is over — at least for now. For two years, this seductive sector has won with everything from crypto to blockchain to decentralized tech. Now investor interest has fallen, with VC-backed Web3 startups capturing only slightly more than $3.3 billion in the third quarter, the lowest total since late 2020. [Biotech IPOs are always strange, in an up or down market]( While most tech companies enter the market armed with millions in revenue, a strategy toward profitability, a solid capital expense, and strong projections for the long haul, few of the record 143 biotech startups that made their public debut last year had a product to sell. We break them down. [Enhance Your Sales Team’s Prospecting]( [Crunchbase Enterprise is an all-in-one prospecting solution. Download this product overview sheet to learn how to close more deals without the headache.]( [Download Now]( Crunchbase Pro: Searches and Lists Name Type Entries [Investments in German companies led by US-based investors in the past year]( Funding Rounds 115 [Venture debt firms with 10+ investments]( Investors 94 [San Francisco Tech Crawl 2018 Companies]( Companies 16 [More Featured Searches and Lists]( [Check out our Crunchbase solutions here]( – prospecting tools made for everyone Recent Investments [Wise]( [300M GBP]( / [Post-IPO Debt]( Wise is a money transfer service allowing private individuals and businesses to send money abroad without hidden charges. Categories: Finance • Financial Services • FinTech • Payments Founders: [Kristo Kaarmann]( [Taavet Hinrikus]( Investors: [Silicon Valley Bank UK]( (Lead) [OpenWeb]( [$170M]( / [Series F]( OpenWeb partners with publishers and brands to build audience relationships. Categories: Internet • Machine Learning • Online Forums • Publishing • Social Founders: [Ishay Green]( [Nadav Shoval]( [Roee Goldberg]( Investors: [Georgian]( (Lead) [HealthJoy]( [$60M]( / [Series D]( HealthJoy is a healthcare navigation platform that simplifies the healthcare and benefits experience using AI and personalized guidance. Categories: Artificial Intelligence • Employee Benefits • Health Care • Hospital • Medical Founders: [Doug Morse-Schindler]( [Justin Holland]( Investors: [Valspring Capital]( (Lead), [Brandon Cruz]( [CIBC Innovation Banking]( [+ 6 more]( More Fundings Company Amount / Round Lead Investor [CloudPay]( $50M / [Venture Round]( [Runway Growth Capital]( [Classera]( $40M / [Series A]( [Sanabil]( [BYJU’S]( 3.0B INR / [Debt Financing]( [Aakash Educational Services]( [Resilia]( $35M / [Series B]( [Framework Venture Partners]( [Canary Technologies]( $30M / [Series B]( [Insight Partners]( [Navina]( $22M / [Series B]( [ALIVE Israel HealthTech Fund]( [Cinchy]( $14M / [Series B]( [Forgepoint Capital]( [Navina]( Unknown / [Grant]( [Israel Innovation Authority]( [All Recent Funding Activity]( Recent Acquisitions [UserTesting]( Pending acquisition by [Thoma Bravo]( for $1.3B More Acquisitions Company Acquired By Amount [WillowTree]( [TELUS International]( $1.2B [All Recent Acquisition Activity]( Upcoming Tech Events Accelerator Deadlines Date Accelerator Location Mar 16, 2023 [Novotech]( Sydney May 15, 2023 [UNEC Startup Incubator]( Baku [More Upcoming Deadlines]( Don’t see your event? 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