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- German SaaS platform HERO Software raises €40M to digitise SME operations 🚀
German SaaS platform HERO Software raises €40M to digitise SME operations 🚀
German SaaS platform HERO Software raises €40M to digitise SME operations
Fabien B
July 15, 2024
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🗞️ HIGHLIGHT OF THE DAY
HERO Software, a Germany-based company that provides cloud-based business software for tradesmen in various sectors, has secured €40 million in Series B funding. The round was led by Eight Roads Ventures, a global venture capital firm that focuses on vertical SaaS, and joined by existing investor Cusp Capital and new investor Federated Hermes.
The company, founded in 2020 by Dr. Michael Kessler and Philipp Lyding, aims to help small and medium-sized trade businesses digitise their entire operational process, from customer acquisition to project execution and payment. HERO Software acts as an operating system for SMEs across various trades, including plumbing, carpentry, photovoltaic installation, and electrical services, offering features such as financial transactions and third-party integrations. HERO Software claims to have more than 20,000 customers across the DACH region, generating annual sales of around €3.1 billion. With the new funding, the company plans to expand into new markets, hire more talent, and further develop its SaaS offering.
HERO Software is well-positioned for growth with its recent funding round, which will help it address the industry-specific needs of tradesmen SMEs, boosting efficiency and customer success.
What We Think
The company is well-positioned for growth with its recent funding round, which will help it expand its team, market presence, and SaaS offerings. By digitising tradesmen SMEs’ workflows, HERO addresses industry-specific needs, boosting efficiency and customer success.
⚡ LATEST IN TECH AND AI
Stripe, the leading online payment platform, has acquired TaxJar, a SaaS startup that helps e-commerce businesses automate sales tax compliance. TaxJar provides a cloud-based solution that calculates, collects, and remits sales taxes across different jurisdictions and platforms. Stripe plans to integrate TaxJar’s technology into its own products, such as Stripe Billing and Stripe Checkout, to offer a seamless and accurate tax solution for its millions of customers.
Samsung unveiled a slew of new products at its Galaxy Unpacked event, including the Galaxy Ring, a wearable device that can project holograms and control smart home devices; the Z Fold 6 and Z Flip 6, the latest foldable smartphones with improved durability and performance; and the Galaxy Watch Ultra, a rugged smartwatch with advanced health features.
Samsung’s Galaxy Watch Ultra is a direct competitor to the Apple Watch Ultra 2, offering similar features such as blood pressure monitoring, ECG, and fall detection. However, the Galaxy Watch Ultra has a lower price tag, a longer battery life, and a more customizable design. Can it beat the Apple Watch in the smartwatch market?
💻 DEV RESOURCES
Dev Resources is a website that curates a list of over 800 resources for developers, categorized by topics such as programming, design, marketing, analytics, and more. You can find useful tools, platforms, tutorials, blogs, podcasts, and newsletters to help you learn and grow as a developer.
Stack Overflow for Teams is a private and secure knowledge-sharing platform for developers and technical teams. Stack Overflow for Teams allows users to create and access a searchable repository of questions and answers that are specific to their organization, project, or technology stack. Stack Overflow for Teams also integrates with popular tools like Slack, GitHub, and Microsoft Teams, to enable seamless collaboration and communication.
Medium for Developers is a new program that aims to empower developers to share their knowledge and expertise on Medium, the online publishing platform. Medium for Developers offers developers a range of benefits, such as:
A verified badge and a custom profile banner
Access to a dedicated Medium editor and a network of mentors
Exposure to a large and engaged audience of developers and tech enthusiasts
Opportunities to earn money from their stories and join the Medium Partner Program
Exclusive invitations to events, webinars, and workshops
🤖 COOL AI TOOLS
Discover mind-blowing AI tools
Capchase is a SaaS financing platform that helps SaaS companies access non-dilutive capital based on their future recurring revenue. Capchase allows SaaS companies to receive upfront cash for their annual or multi-year contracts, without taking on debt or giving up equity. Capchase also offers flexible repayment terms and low fees, as well as a dashboard that provides insights into the company’s cash flow and growth metrics.
Gemma is a SaaS platform that enables users to create generative AI applications quickly and easily. Gemma uses Gemini, a powerful AI model that can generate text, images, code, and more from natural language prompts. Gemma allows users to build and deploy AI applications without writing any code, using a simple drag-and-drop interface. Gemma also offers a marketplace where users can discover and use AI applications created by other users.
Loom is a SaaS tool that lets users create and share video messages instantly. Loom allows users to record their screen, camera, or both, and add voice and emoji reactions. Loom also enables users to edit, trim, and caption their videos, as well as track views and comments. Loom is ideal for remote work, as it helps users communicate more effectively and asynchronously with their colleagues and clients.
💸 WHO RAISED?
Discover startups who just raised funds
Notion, a SaaS platform that combines notes, tasks, wikis, and databases, has raised $275 million in a Series F round led by Coatue Management. The round values Notion at $10 billion, more than double its valuation from last year. Notion says that the new funding will help it expand its global presence, especially in Asia, and invest in its product development and customer support.
Airtable, a SaaS platform that allows users to create and manage custom databases, has raised $270 million in a Series E round led by Greenoaks Capital. The round values Airtable at $5.77 billion, nearly three times its valuation from last year. Airtable says that the new funding will help it grow its team, launch new features, and support its enterprise customers.
Figma, a SaaS platform that enables collaborative design and prototyping, has raised $200 million in a Series E round led by Durable Capital Partners. The round values Figma at $10 billion, more than doubling its valuation from last year. Figma says that the new funding will help it continue to innovate its product, scale its infrastructure, and grow its community.
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