This Week in SaaS - Dec 16 - 22, 2025

Top exits, deals, news, and blog posts of the week

Ryan Allis

December 22, 2025

📚 New Blog Posts

💸 Big SaaS VC Rounds

Databricks (data & AI platform / lakehouse and enterprise analytics; SaaS) – raised a >$4B Series L on Dec 16, 2025; funds will deepen investment in its unified data intelligence platform (including agents and AI products) and scale globally as the company reports strong revenue run-rate growth.
Lovable (AI software development platform that streamlines building apps; SaaS) – raised a $330M Series B on Dec 19, 2025; funds will accelerate product development and global scaling as the company expands its AI-native software creation platform and pushes further into enterprise adoption.
MoEngage (customer engagement and marketing automation platform for consumer brands; SaaS) – raised a $280M Series F on Dec 17, 2025; funds will expand product capabilities and global go-to-market as the company scales its engagement platform across enterprise customers.
Tebra (all-in-one EHR + practice growth platform for healthcare providers; SaaS) – raised $250M in new equity and debt financing on Dec 17, 2025; funds will accelerate R&D in AI and automation across its provider platform and expand product depth for clinics at scale.
Nirvana Insurance (AI-based commercial insurance platform for the trucking industry; SaaS-enabled insurtech) – raised a $100M Series D on Dec 19, 2025; funds will scale its AI-driven underwriting and insurance platform for fleets and expand across commercial trucking use cases.
Adaptive Security (AI-powered social engineering prevention and security awareness training; security SaaS) – raised an $81M Series B on Dec 16, 2025; funds will expand its platform for deepfake/phishing defense, enhance simulations and risk assessment, and scale enterprise deployments globally.
Kargo Technologies (AI-powered supply-chain visibility and automated QC via dockside monitoring; enterprise SaaS + hardware) – raised $42M in a Series B on Dec 22, 2025; funds will expand its AI capabilities and deployment footprint as enterprises push for real-time freight visibility and automated quality control.
Fluency (digital advertising operating system for scaling paid media operations; SaaS) – raised a $40M Series A on Dec 17, 2025; funds will expand its paid-media OS across channels, accelerate product development, and scale go-to-market for performance marketing teams.
Axion (AI platform for manufacturing product quality; industrial SaaS) – raised a $37M Series B on Dec 18, 2025; funds will expand its AI quality platform, deepen enterprise deployments in manufacturing, and scale partnerships across industrial operators.
Echo (AI-powered secure software infrastructure via clean container base images; security/devtools SaaS) – raised a $35M Series A on Dec 16, 2025; funds will scale its cloud-native infrastructure security offering and expand enterprise adoption for production workloads.
Ankar (AI to streamline patent filing and IP portfolio management; legaltech SaaS) – raised a $20M Series A on Dec 18, 2025; funds will accelerate product development for patent workflows, expand enterprise features for IP teams, and scale internationally.
Sequence (AI-driven revenue operations automation for finance teams; SaaS) – raised a $20M Series A on Dec 17, 2025; funds will expand its platform automating billing and revenue workflows, deepen integrations, and scale go-to-market with mid-market and enterprise finance orgs.
Thread (AI service desk platform for managed service providers; SaaS) – raised an $18M growth equity investment on Dec 18, 2025; funds will accelerate development of agentic service-delivery products that move MSPs from reactive ticketing to AI-native workflows.
FINNY (AI-powered prospecting and marketing platform for financial advisors; SaaS) – raised a $17M Series A on Dec 19, 2025; funds will expand AI-driven prospecting workflows, scale advisor-facing automation features, and grow distribution across wealth management channels.
Logpresso (cloud-native SIEM and security analytics; security SaaS) – raised $12M Series B on Dec 17, 2025; funds will accelerate its shift toward AI security agents, expand XDR/SIEM automation, and support broader international expansion.

🤝 SaaS M&A Deals

Red Hat agreed to acquire Chatterbox Labs (undisclosed; AI safety & model-agnostic AI guardrails platform, UK/US) – announced on Dec 16, 2025; this acquisition strengthens Red Hat’s open-source AI and hybrid cloud strategy by integrating Chatterbox’s quantitative AI safety, risk assessment, and generative AI guardrail tooling into the Red Hat AI portfolio, enabling enterprise customers to deploy production-grade AI with built-in safety, transparency, and governance capabilities.
Permira & Warburg Pincus agreed to acquire Clearwater Analytics (~$8.4B; cloud-based investment accounting, analytics & portfolio reporting platform; US) – announced on Dec 22, 2025; this buyout takes the publicly traded SaaS firm private, enabling deeper integration of its multi-tenant analytics platform across private equity and asset management workflows while providing strategic flexibility to enhance data, compliance, and analytics features without public-market pressures.
Credit Clear agreed to acquire DTS (undisclosed; cloud-native receivables & collections platform; Australia/NZ) – announced on Dec 18, 2025; Credit Clear’s acquisition of DTS (a SaaS collections business previously part of Experian NZ) expands its portfolio into digital credit management technology, strengthening its recurring SaaS offerings for lenders and financial institutions in APAC.
ServiceNow is reportedly in advanced talks to acquire Armis (~$7B; OT security & IoT threat protection SaaS startup; US) – reported Dec 15–16, 2025; if completed, this acquisition would mark ServiceNow’s largest strategic purchase to date, expanding its security automation and operations suite with capabilities to secure operational technology environments.

🚀 SaaS IPOs & S-1 Filings

Travelstack Tech (tech-enabled hospitality & travel platform software; India) – filed its Draft Red Herring Prospectus (DRHP) for an IPO with the Securities and Exchange Board of India on Dec 18, 2025; the filing reflects Travelstack Tech’s intent to raise capital through a public offering combining a fresh issue and offer for sale, aiming to support expansion of its platform that powers FabHotels’ inventory, distribution, and tech operations for hospitality partners.

🧠 Key Takeaways

SaaS growth is shifting from features to workflows. Industry voices emphasize that enterprise buyers are no longer satisfied with feature-heavy products; they want solutions that fit seamlessly into daily workflows and deliver measurable outcomes rather than just feature checklists. This reflects a broader SaaS evolution toward workflow-first design — meaning SaaS founders should prioritize integrations, automation, and usage patterns that reduce customer friction and align with how teams actually work.
Economic context reinforces demand for measurable productivity tools. Broader tech funding and SaaS trends reported around this week show sustained interest in intelligent automation and enterprise innovation, which suggests that SaaS founders still have a runway for products that demonstrate concrete operational ROI. While this isn’t a single article, it’s echoed across industry reporting on funding momentum and enterprise priorities.
AWS leadership strategy, don’t replace junior devs — integrate AI thoughtfully. AWS’s CEO emphasized AI as a tool to augment human talent, not replace it, especially for junior roles that are vital for innovation and long-term growth. Rather than chasing the hype of “bots replacing people,” founders should think about how AI can elevate team performance, grow internal capability, and support scalable knowledge transfer within their SaaS development and customer success teams — especially in enterprise contexts where deep domain understanding matters.

📰 Community News

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

-Ryan Allis, CEO of SaasRise