News | OnTargetIsh

Canva buys Simtheory and Ortto, pivots from design tool to AI sales platform

Sydney unicorn Canva acquired two local startups, Simtheory (AI collaboration) and Ortto (marketing automation), marking its sixth acquisition in 10 months. The $4 billion revenue company is repositioning from graphic design into enterprise workflows, customer data, and agentic AI. For sales teams, this means Canva is now building tools that compete with traditional sales enablement and marketing automation platforms.

Apr 9, 2026 · 2 min

Market Intel

Meta builds shopping AI for Instagram, Facebook feeds

Meta launched Muse Spark, an AI model designed to push product recommendations into social feeds across Instagram, Facebook, and WhatsApp. The play: turn casual scrolling into commerce. For B2B sales teams, it signals another platform betting big on AI-driven discovery, though Meta's walled garden approach limits cross-platform prospecting.

Apr 9, 2026 · 2 min

Funding & Startups

Anthropic hits $30B revenue, passes OpenAI while spending 4x less on training

Anthropic reached $30 billion annualized revenue in April 2026, overtaking OpenAI's $24 billion despite a fraction of the consumer user base. The gap closed through enterprise API contracts and developer tools, not viral apps. Worth noting: neither company is profitable, and both are burning billions on infrastructure.

Apr 8, 2026 · 3 min

Funding & Startups

Firmus raises $725m at $8b valuation, eyes ASX IPO after $10b debt deal

Tasmanian AI infrastructure startup Firmus has locked in another US$505m ($725m AUD) equity raise led by Coatue, valuing the company at $8 billion. This follows a $10 billion debt facility in February and positions the company for an ASX IPO later this year. Sales implications: unclear. No CRO, VP Sales, or go-to-market team details disclosed.

Apr 8, 2026 · 2 min

Funding & Startups

Spoony shuts down: AI funding crunch kills social app

Spoony, an Australian social app for disabled and neurodivergent users, is closing after investors shifted focus to AI startups. The company raised $1 million, hit 65,000 users, but could not land its October 2025 funding round. No sales team, no monetisation model that worked pre-1M users.

Apr 8, 2026 · 2 min

Strategy

Databricks sells across dozens of industries without building vertical products

At $5.4 billion revenue run rate, Databricks uses an 'imperatives' framework instead of vertical products to sell across retail, finance, healthcare. Their go-to-market strategy maps customer priorities to product capabilities without custom builds per industry. Worth studying if you are selling horizontal platforms.

Apr 8, 2026 · 3 min

Market Intel

OpenAI's $122B round: $37B actual cash, rest is vendor deals and contingent capital

The headline number is $122 billion. What hit the bank account on day one is closer to $37 billion. Amazon's $50B includes $35B contingent on IPO or AGI. Nvidia's $30B is compute credits, not cash. SoftBank's $30B arrives in tranches. The actual VC-style capital is $12 billion. If you are selling into enterprise AI, this structure matters: it signals how vendor partnerships are replacing traditional funding in late-stage AI deals.

Apr 7, 2026 · 3 min

Funding & Startups

Triple Bubble closes $10m first close, targets $50m for ANZ fintech fund

Oceania's first fintech-specific VC fund hit $10m in nine months, backed by CommBank's x15ventures. The stage-agnostic fund is deploying now, with founder Dom Pym noting it is one of the toughest capital raising markets in a decade. Worth noting: four out of five Australian fintechs have no VC on their cap table.

Apr 7, 2026 · 2 min

Funding & Startups

Australia Post acquires Rendr, no sales team details disclosed

Australia Post bought last-mile delivery platform Rendr to expand same-day delivery to 90% of Australia. Deal terms undisclosed. No data on Rendr's sales team size, revenue, or hiring plans post-acquisition. Rendr raised $2.1M in 2021, will run standalone before integration.

Apr 7, 2026 · 2 min

Funding & Startups

Chime Labs raises $900k for AI receptionist, tradies niche

Sydney startup Chime Labs closed $900k pre-seed from 500 Global to build AI phone handling for Australian trade businesses. The product answers calls, qualifies leads, and books jobs directly into calendars. Founders are targeting administrative overhead that costs tradies up to $12k monthly in missed calls.

Apr 7, 2026 · 2 min

Sales Tech

SaaStr cuts 17 humans, adds 20 AI agents, runs same revenue with 3 people

Jason Lemkin's SaaStr scaled from 20+ employees to 3 humans and 20 AI agents while maintaining revenue. First AI SDR sent 15,000 outbound messages in 100 days at 5 to 7% response rates. One agent closed a $70k sponsorship deal on its own. The math: $500k AI investment returned $1.5m in two months.

Apr 6, 2026 · 3 min

Sales Tech

CIOs replacing customer service tools first, Salesforce automation at 19%

Redpoint surveyed 141 CIOs in March 2026. One in four has seriously considered replacing their customer service vendor in the last year. Sales automation sits at 19%, with some enterprises choosing to build their own CRM instead. The money is coming from existing software budgets, not new line items.

Apr 5, 2026 · 3 min

SaaStr churns Notion after 7 years, AI agent took its job

Sophiie AI raises $5M seed, hiring for US expansion

Visaible.ai raises $1M seed, founder-led sales for AI hotel visibility tool

Why good reps hit 70% quota at one company, 0% at yours

Canva valuation drops $11B to $43.5B, IPO timeline now unclear