Instacart acquires Foodstorm, Qapita raises $15mn Series A and more

SaaS news this week (2nd October 2021- 8th October 2021): Instacart acquires Foodstorm, Qapita raises $15mn Series A and more
Instacart acquires Foodstorm, Qapita raises $15mn Series A and more

Instacart acquires Foodstorm

FoodStorm is an order management system (OMS) that powers end-to-end order-ahead and catering experiences for grocery retailers. Instacart will benefit from FoodStorm's technology and enterprise offering. This will enable Instacart’s retail partners to automate their catering and prepared foods operations to deliver a seamless grocery meals experience. The technology integrates easily with a large variety of third-party systems including point of sale systems (POS) and offers customer relationship management (CRM) capabilities that help grocers collect feedback, market their offerings and leverage promotional features. 

Qapita raises $15mn Series A lead by East Ventures

Qapita raised a series A round of $15 million co-led by East Ventures (Growth Fund) and Vulcan Capital. The funding round also saw participation from NYCA and other existing investors including MassMutual Ventures, Endiya Partners. Several existing angel investors across India, Singapore and Indonesia including Alto Partners, Partners of the Northstar Group, K3 Ventures, Mission Holdings, Anjali Bansal, founder, Avaana Capital and Sujeet Kumar, co-founder of Udaan also invested in this round. Qapita has previously raised $7.25 million in earlier rounds of funding. 

Qapita plans to provide solutions for private companies and start-ups, but also to investors, shareholders and employees. Some liquidity solutions via a digital marketplace enabling transactions for companies between their investors and employee stakeholders are also in the pipeline.

Riiid acquires Lagoon

Riiid, an AI-powered edtech company, acquired its Japanese distribution partner Langoo. The company just raised a $175 million Series D round from SoftBank’s Vision Fund 2 in May to fuel its global expansion. Langoo offers a test prep app for the English-language proficiency test TOEIC in the region. After penetrating the Japanese market, Riiid will gear up to enter other international regions, including Central and East Asia.

PERSUIT Secures $20M in Series A Funding to Optimize Outside Counsel Selection and Crush the Billable Hour

PERSUIT's SaaS platform connects Fortune 500 companies like UBS, HSBC, Johnson & Johnson, Novartis, Facebook and Intel with law firms and other professional service providers. PERSUIT helps customers more quickly connect with the right outside counsel while cutting their spend by an average of 37% for each engagement, translating into a savings.

PERSUIT announced it has raised $20 million in its Series A funding led by OpenView.  Newly acquired funds will be used to invest in accelerated capabilities across its product range and enhanced data insights to best support and grow its customers.

Procore Announces Advanced Platform Innovations

Right from creating custom workflows, estimating and bidding Updates, and enhanced reporting for deeper insights to project teams, procore offers a one-stop construction management software. The recently announced platform enhancements provide much needed flexibility for project teams through cross-platform insights with a new reports builder, and a new global workflow engine to improve the outcomes of the bidding process.

While the enhancements to Procore’s integrated bidding solution will be available in the first quarter of 2022. The new Global Workflow Engine will beta as part of Procore Project Financials in the fourth quarter of 2021.

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