The SaaSGenius News Digest June 1, 2022

First SaaS mainframe modernization solution launched

SaaS mainframe modernization

Mainframe migration is about to get easier as Astadia is launching its Mainframe Migration Factory this fall. The company specializes in moving databases and applications from Unisys and IBM to cloud storage. And with over 300 successful migrations and thirty years of experience, expectations are high for their solution.

The Astadia FastTrack Factory is the highlight of the program. It offers companies a migration solution that’s fully automated and reduces project times by a huge margin. 

Astadia CEO Scott stated that the company’s goal is to provide the service and tech “needed to move mainframe workloads safely, cost-effectively, and fast.” And with the market for mainframe modernization expected to climb to $109 billion in the next ten years, there’s certainly a need.

The Astadia FastTrack SaaS model refactors or replatforms applications. This allows companies to minimize risk on their mainframe migrations and reduce cost by up to 80%. 

Multiple industry leaders are partnering with Astadia to boost the project. And SIS Global is offering the software as a migration alternative at scale. If you’re looking to migrate a mainframe, this SaaS solution could be worth a second look.

AI-powered SaaS test automation platform eureQa acquired by Worksoft

AI-powered SaaS test automation

Testing applications can be very tricky for developers. Fortunately, eureQa offers a SaaS solution that uses AI to test and provide autonomous troubleshooting. And that solution must have looked like gold to custom application developer Worksoft.

Last week, the company acquired eureQa and added eureQa’s end-to-end testing and no code performance solution to their Connective Automation platform. With this addition, the company is offering a complete automation platform that can optimize end-to-end processes for businesses. 

Companies will be able to use an on-premise, cloud, or hybrid delivery to align with their goals. 

Regarding the acquisition, Worksoft CEO, Tony Sumpster, said, “The addition of eureQa’s AI-driven SaaS testing platform and its additional strengths in performance and mobile testing expands our offering to provide a robust platform that looks holistically across your business and technology investments to ensure quality and deliver tangible automation ROI.”

Latch has two weeks of layoffs

More bad news for Latch this month, as the smart lock company had to layoff employees for the second week in a row. The company initially raised $152 million in startup funds before going on the stock market. 

As of now, the company has cut 28% of its full-time workers. That’s a total of 130 cuts with the 30 last week. Overall, it’s a rare occurrence for a publicly traded company to have layoffs for two consecutive weeks. 

Unfortunately, the company isn’t alone in the cost cutting endeavors. Tech companies in many sectors are feeling squeezed by the economy, as companies like Netflix, Robinhood, and Carvana have all completed recent workforce reductions.

RevBits launches SaaS cybersecurity solution

RevBits, known for their suite of top-tier cybersecurity products, is adding SaaS delivery to their business model. Customers can now choose to deploy their Cyber Intelligence Platform (CIP) via the cloud, on site, or through the SaaS model.

With the platform, customers will also have access to cybersecurity management services from RevBits. And the company allows their solutions to deploy individually or as part of an XDR platform. 

Positive towards the launch, RevBits CTO Mucteba Celik stated, With the launch of our SaaS version we are now in a position to offer the best protection and the optimal deployment model for any customer, regardless of their size or security requirements.”

Coherent launches Spark, a no-code SaaS platform

For business development, companies must be able to integrate their essential spreadsheets into a wide range of business applications and programs. Unfortunately, this roadblock hinders many companies and causes excess expenditures. 

To tackle this key issue, Coherent launched their no-code SaaS solution last week. The program helps companies manage, audit, scale, and effectively connect their Excel spreadsheets to a wide range of business software.

Using Spark, companies can automatically convert data models, formulas, rules, and any business logic into an API for connection to both back-end and front-end applications. It breaks the model of traditional software development and delivers results in minutes.

With this launch and a $75 million series B fundraising round in April, things are looking up for Coherent.

Code Ocean to expand digital lab platform with funding round

Battery Ventures and M12 — Microsoft’s venture capital fund — led a Series B funding round that raised $16.5 million for Code Ocean. If you’re not familiar, they’re an Israeli company offering a digital laboratory that gives computational scientists a secure platform to share, reproduce, and automate their research. 

Users can access published software code from journal publishers like Elsevier, IEEE, and Nature. And from there, they can upload, download, and view code without installing a program. 

The round is especially good for biopharma companies who will be able to reduce computational research costs. With the funding, Code Ocean will hire a pool of talent with multiple skill sets to expand their product’s availability. 

Insight Partners leads $26 million funding round for Rattle

Indian SaaS startup Rattle had a Series A funding round recently that netted the company $26 million. Led by Insight partners, the funding round also saw participation from Lightspeed India Partners and Sequoia Capital India.

The funding comes as Rattle looks to expand the ecosystem of their platform that orchestrates revenue for customer-facing departments. They’ll also allocate some funds to growing its marketing team.

At 20 employees, the company is certainly in the early stages. But with investors like Sequoia, we could see a lot of growth soon. Especially since their platform integrates with Hubspot, Zendesk, JIRA, Google Suite, Salesforce and more market systems.




A content writer in the SaaS, FinTech, and eCommerce spaces, Jake Pool has written hundreds of articles and reviews for dozens of corporate blogs and online publications. With four years under his wing, readers can expect many more informative articles in the future.

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