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This Week in SaaS - May 5 - 11, 2026

The top M&A deals, venture deals, news, and blog posts of the week

By
Ryn Allis
May 11, 2026

📚 New Blog Posts

  1. CEO Mastermind Recaps for the Week of May 4 - 7, 2026
  2. The Agentic Engineering Trends Report 2026

💸 Big SaaS VC Rounds

  1. Corgi (AI-native full-stack startup-insurance platform; vertical SaaS) – raised a $160M Series B at a $1.3B valuation on May 6, 2026; funds will broaden coverage and distribution, deepen the AI systems powering underwriting, claims, and policy operations, and push the platform into new verticals starting with trucking. The round, led by TCV, mints Y Combinator's latest unicorn just four months after a $108M Series A.
  2. Enter (São Paulo-based legal AI agent platform for mass litigation; vertical SaaS) – raised a $100M+ Series B at a ~$1.2B valuation on May 5, 2026; funds will accelerate product development of the EnterOS platform (which drafts petitions, builds defenses, and calculates settlements) and expand enterprise sales across Brazil's 75M-case litigation market. Led by Founders Fund, with Sequoia, Ribbit, ONEVC, Atlantico, and Kaszek participating — making Enter Latin America's first AI unicorn.
  3. Nova Intelligence (San Francisco-based agentic AI platform for SAP modernization; enterprise SaaS) – raised a $31.5M Series A on May 5, 2026; funds will support R&D and a major GTM expansion targeting Fortune 500 logos ahead of SAP's 2030 S/4HANA migration deadline (an estimated $89B services market). Led by Chemistry, with Accel, Conviction, and SAP.io participating.
  4. Ethos (London-based AI-powered expert and talent matching network; HR/professional services SaaS) – raised a $22.75M Series A on May 6, 2026; funds will scale voice-led onboarding, expand the expert network beyond its 5,000-per-week sign-up pace, and accelerate enterprise deployments with AI labs, investment funds, and corporates. Led by a16z, with General Catalyst, XTX Markets, and Evantic Capital participating.
  5. Featherless.ai (San Francisco / Singapore co-founded serverless inference platform for open-source AI models; AI infrastructure SaaS) – raised a $20M Series A on May 5, 2026; funds will scale global infrastructure, launch a marketplace for specialized open models, and deepen integration with diverse hardware architectures across 30,000+ language, vision, and audio models. Co-led by AMD Ventures and Airbus Ventures, with BMW i Ventures, Kickstart, Panache, and Wavemaker participating.
  6. Fazeshift (San Francisco-based AI-native finance operations platform automating accounts receivable; fintech SaaS) – raised a $17M Series A on May 7, 2026; funds will expand the platform from AR into broader autonomous finance workflows (invoicing, reconciliation, collections) and grow the enterprise customer base after 12x revenue growth in the past year. Led by F-Prime, with Gradient Ventures, Y Combinator, Wayfinder, Pioneer Fund, Ritual Capital, and angels participating.
  7. Pit (Stockholm-based AI-native enterprise operations platform; horizontal SaaS) – raised a $16M seed round on May 7, 2026 alongside its public launch; funds will scale the Pit Studio and Pit Cloud products that replace spreadsheets, inboxes, and rigid SaaS tools with custom AI-built software for finance, operations, and customer workflows. Led by Andreessen Horowitz, with Lakestar and operators from OpenAI, Anthropic, Google, Deel, and Revolut participating.
  8. OpsMill (Paris-based "Infrahub" infrastructure data management platform for AI-driven automation; DevOps SaaS) – raised a $14M Series A on May 6, 2026; funds will expand the platform that gives AI agents a single view of enterprise infrastructure and scale R&D and GTM efforts. Led by IRIS, with BGV, Serena, and Partech participating.
  9. Tekst (Ghent, Belgium-based AI agentic process-intelligence platform for enterprise back-office workflows; enterprise SaaS) – raised $13.5M Series A on May 7, 2026; funds will accelerate product development, double headcount to ~70, and expand the international customer base (Daikin, Colruyt, Becton Dickinson) by mapping enterprise workflows from existing digital trails into actionable AI agents. Led by Elephant.
  10. FastSpring (Santa Barbara, CA-based digital commerce platform handling payments, subscriptions, and global tax/compliance for AI, SaaS, gaming, and digital product companies; ecommerce SaaS) – received a strategic growth investment (amount not disclosed; significant late-stage round) on May 5, 2026; funds will accelerate product innovation, expand GTM capabilities, and fund new strategic initiatives. From LLR Partners and Accel-KKR.

🤝 SaaS M&A Deals

  • SAP completed the announcement to acquire Prior Labs (~$1.16B / €1B over four years; 18-month-old German frontier AI lab specializing in tabular foundation models, SaaS-adjacent AI infrastructure, Germany) – announced on May 5, 2026; this acquisition establishes SAP's globally leading frontier AI lab in Europe, brings Prior Labs' TabPFN tabular foundation models (3M+ open-source downloads) into SAP Business Data Cloud, and positions SAP to power agentic AI directly on enterprise structured data ahead of competitors. The deal closes Q2–Q3 2026.
  • SAP announced the acquisition of Dremio (terms undisclosed; open Apache Iceberg-native data lakehouse, data infrastructure SaaS, US) – announced on May 5, 2026; this acquisition makes SAP Business Data Cloud an Iceberg-native enterprise lakehouse that unifies SAP and non-SAP data without movement or format conversion — a foundational data layer to power agentic AI at enterprise scale. The deal closes Q3 2026.
  • Deel completed the acquisition of Sastrify (terms undisclosed; Cologne-based AI-driven SaaS procurement and license management platform on $45.3M of prior funding, SaaS management software, Germany) – announced on May 5, 2026; this acquisition (Deel's 10th since 2022) folds Sastrify into Deel IT under a single label this quarter, expanding Deel beyond hardware-plus-payroll into full IT lifecycle management with AI-powered SaaS procurement, spend optimization, and contract negotiation.

🧠 Key Takeaways

📰 Community News

See you next week with the next edition ofThis Week in SaaS.

-Ryan Allis, CEO of SaasRise