This Week in SaaS Oct 20 - 27, 2025

💸 Big SaaS VC Rounds This Week

1. UnifyApps (enterprise OS for AI automation) — raised a $50M Series B led by WestBridge Capital. Funding will expand the AI integration catalog and enterprise GTM in Europe and APAC; Ragy Thomas (Sprinklr) joined as Co-CEO.
   
   
2. Starbridge (AI analytics and data infrastructure SaaS) — raised a $42M Series A led by Madrona Venture Group and Index Ventures. Funds will develop its “cross-cloud data plane” and AI-native query optimizer for enterprise analytics.
   
   
3. Serval (agentic AI for IT service management) — raised $47M. Funds will expand safe AI agents for ticket triage and root-cause analysis in enterprise environments.
   
   
4. Sumble (collaboration and AI workplace SaaS) — raised $38.5M, led by General Catalyst, with participation from Accel and Lightspeed. Funding will grow its agentic productivity suite and enterprise partnerships.
   
   
5. Nexos.ai (secure enterprise AI orchestration) — raised a $32M Series A, led by Index Ventures and Balderton. Funds will enhance security governance and expand to the U.S. market.
   
   
6. Nava Benefits (AI-driven benefits management SaaS for HR) — raised a $30M Series C led by Thrive Capital with GV and Glynn Capital. Funds will support AI-powered plan design and nationwide expansion.
   
   
7. ExaCare AI (AI platform for post-acute care operations) — raised a $30M Series A, led by Insight Partners and Foundation Capital. Funds will scale AI workflow automation in healthcare providers.
   
   
8. CurbWaste (vertical SaaS for independent waste haulers) — raised a $28M Series B led by Socium Ventures with Flourish, TTV, and B Capital. Funds will enhance product and expand U.S. market presence.
   
   
9. Estuary (real-time data movement for AI apps) — raised a $17M Series A led by Crane Venture Partners and The General Partnership. Funds support data-integration automation for enterprise AI.
   
   
10. Streetbeat (AI-powered investment insights SaaS) — raised a $15M Series A led by Fin Capital and TruArrow Partners. Funding will enhance AI portfolio-management and expand retail distribution.
    
    
11. Finster AI (AI financial compliance & analytics SaaS) — secured $15M in funding led by Gradient Ventures and Greycroft. Funds to build AI-driven financial monitoring and risk tools.

🤝 SaaS M&A Deals This Week

• Atlassian Completes Acquisition of The Browser Company (AI work-browser & productivity software) — Atlassian completed the acquisition of The Browser Company on October 21, 2025, bringing Arc/Dia’s “AI browser for work” under TEAM to deepen the system-of-work across SaaS apps, tabs, and tasks.
  
  
• BevLogic (Performant Capital) to Acquire Avalara’s Beverage Alcohol Compliance Solutions (regulatory compliance software/SaaS) — BevLogic agreed to acquire select beverage alcohol compliance technology assets from Avalara on October 22, 2025; the carve-out reunites the former Compli team and expands software for licensing, returns/reporting, and product registration.
  
  
• Global Shop Group Acquires ANKA (pan-African SaaS commerce infrastructure) — Global Shop Group acquired select assets of ANKA on October 23, 2025, aiming to scale cross-border e-commerce for African and diaspora brands using ANKA’s marketplace, payments, and logistics stack.
  
  
• CGI to Acquire Comarch Polska SA (public-sector software & services) — CGI entered into an agreement to acquire Comarch Polska SA on October 22, 2025, adding mission-critical public-administration solutions in Poland and expanding its gov/enterprise software footprint.
  
  
• Veeam to Acquire Securiti AI (data-security posture, privacy & governance across hybrid/multi-cloud/SaaS) — Veeam signed a definitive agreement to acquire Securiti AI for ~$1.725B (announced October 23 coverage, deal announced Oct 21, 2025), integrating DSPM, privacy, governance and AI-trust into Veeam’s data resilience platform.

🚀 SaaS IPOs & S-1 Filings This Week

• Idea Acquisition Corp. (IACOU) (SPAC; technology/innovation targets) — filed S-1 (Oct 23, 2025).
  
• Armada Acquisition Corp. III (SPAC; fintech/tech targets) — filed S-1 (Oct 23, 2025).

🧠 Key Founder / Operator Takeaways

• Prioritize vertical AI integration. At the “The Future of Digital Tech” event (Aberdeen, Oct 21) founders emphasised that investors aren’t just buying “AI chatbot + CRM” anymore—they’re buying how that tool solves industrial workflows (energy, manufacturing, life sciences) end-to-end.
  
• Founders’ Lessons from SaaS Exits. With M&A in SaaS rising, even in tougher funding cycles, operators are advised to build modules that can be cleanly carved out or spun off, keep cap tables simple, and maintain high gross margins to stay attractive.
  
• Talent & team investment still matters—but focus is shifting. The talent war in SaaS is heating (see India example re: talent shortages in AI/SaaS sectors). Founders should think about roles differently: build flexible teams, cross-train, and keep an eye on team culture because acquisition buyers will evaluate it.
  
• Accountability in metrics is moving from growth to unit economics. As funding multiples compress, operators emphasize cleanly reporting net revenue retention (NRR), gross margin health, CAC payback, and FCF. Those are becoming the minimum friction points for Series B+ and exit discussions.

📈 SaaS Multiples & Benchmarks

Public medians:

• 6.1x TTM Revenue
• 5.5x Forward Revenue
• 75% Gross Margin
• 19% Annual Revenue Growth
• 19% Net Profit/FCF
  

Private M&A medians:

• 4.7x TTM Revenue, 22.4x TTM EBITDA
  

📰 Community News

• Apply to join the SaasRise community for SaaS CEOs and Founders with $1M+ in ARR. 
• Apply to join the GrowthRise community for B2B Marketers
• Apply to join the VentureRise community for VC-Backed CEOs and Founders

See you next Monday with the next edition of This Week in SaaS.

‍-Ryan Allis, CEO of SaasRise