Public from-scratch US and EU companies

https://tcgsummit.com/wp-content/uploads/2025/04/2_figures_tim_bcg.pdf

Macro Fog With a Chance of Pain

https://www.svb.com/globalassets/trendsandinsights/reports/state-of-the-vc-backed-cfo/state-of-the-vc-backed-cfo-2025.pdf

The estimated Impact of GenAI across sectors

https://kpmg.com/kpmg-us/content/dam/kpmg/pdf/2025/quantifying-genai-opportunity.pdf

whereas Vertical and Horizontal SaaS valuations remain on par

https://www.blackpeakcapital.com.au/wp-content/uploads/2025/04/SaaS-Sector-Update-March-2025_vSent.pdf

Prevailing conditions influence series seed graduation rates

https://www.jpmorgan.com/content/dam/jpmorgan/documents/cb/insights/banking/commercial-banking/cb-insights-banking-startup-insights-report.pdf

The software industry exceeded $1 trillion in annual spend in 2024

https://media.licdn.com/dms/document/media/v2/D561FAQHABQnPnKkEyQ/feedshare-document-pdf-analyzed/B56ZXyXYTeHQAY-/0/1743527971552?e=1744243200&v=beta&t=zLHrucH1FUqg3s0Gkn9yFoRZqNXXhJjTrp_gvop8Ou0

AI Is Reshaping The Software Value Chain

https://europe.ark-funds.com/wp-content/uploads/2025/03/ARK-Investment-Opportunity-Report.pdf

Is there seasonality in SaaS?

https://staging-website.chartmogul.com/reports/saas-billing-report/saas-billing-report-2025.pdf

Mag 7 have invested $49B in startups in 2024. More than all VC into China or EU27.

https://dealroom.co/uploaded/2025/02/Accelerating-Europe-Dealroom.pdf

Field and aftermarket asset examples

https://media-publications.bcg.com/BCG-Executive-Perspectives-Future-of-Field-Service-with-AI-2025-EP13-18Mar2025.pdf

SaaS Top Performer Analysis

https://cdn.prod.website-files.com/65e1d7fb19a3e64b5c36fb38/67dad4e89daa6264906ed07b_ICONIQ%20Analytics%20%2B%20Insights%20-%20Navigating%20a%20Successful%20Public%20Offering%20in%20Today%27s%20Markets.pdf

Revenue multiples for SaaS companies have plateaued, with the Q4 2024 median multiple now sitting at 5.6x

https://cdn.prod.website-files.com/65e1d7fb19a3e64b5c36fb38/67dad4e89daa6264906ed07b_ICONIQ%20Analytics%20%2B%20Insights%20-%20Navigating%20a%20Successful%20Public%20Offering%20in%20Today%27s%20Markets.pdf

Data concerns and lack of skills emerge as top challenges

https://www.hkdca.com/wp-content/uploads/2025/03/intelligent-banking-kpmg.pdf

Europe has plenty of startups, but lacks breakthrough, mega-scale companies

https://www.prosus.com/~/media/Files/P/Prosus-CORP/documents/the-need-for-big-tech-champions-in-europe.pdf

The Trend of Verticalization in Software Is Accelerating

https://craft-bowerycap.files.svdcdn.com/production/Bowery-Capital-Opportunities-in-vSaaS-v6.0-January-2025.pdf?dm=1736454507

Global IT Spending - 2024

https://s3.amazonaws.com/bizzabo.file.upload/PN7B3DGEQGWaY2NdJ06z_Oct15JLovelovkMMcDonaldCHealeyAO-Connell.pdf

Top Predictions of Cybersecurity for 2024+

https://s3.amazonaws.com/bizzabo.file.upload/oY8SOcpaTGCjABDz82eF_Jul31CPorter.pdf

Having Data Ready for AI Drives Greater Business Outcomes by 20%

https://cdn-static.bizzabo.com/bizzabo.file.upload/VrYB8TmkR0KTWc4K4yrn_Jan1Sallam.pdf

The use cases vary based on institutional priorities

https://iacpm.org/wp-content/uploads/2025/03/IACPM-McKinsey-Gen-AI-Webinar-2025.pdf

How We Segment the HCM Landscape

https://cdn.hl.com/pdf/2025/2024-hcm-year-in-review-february--2025.pdf

93% of CDOs Feel Data Strategy is Crucial to Generative AI Value

https://2631050.fs1.hubspotusercontent-na1.net/hubfs/2631050/Jonathon%20Bowring.pdf

Gunderson Dettmer 2024 Venture Capital Report

https://www.gunder.com/a/web/vYUowtMwokvZXwEbox5nuK/a4AkH1/gunderson-dettmer-2024-venture-capital-report-final.pdf

 

Global Aggregate Tech Market Cap 2025

https://go.boarddocs.com/il/ctpf/Board.nsf/files/DDCQAZ686D18/$file/Drive%20Capital%20-%20CTPF%20Investment%20Comitee%20Meeting%20Presentation-%20Feb%202025.pdf

Priority Matrix for Generative AI

https://cdn-static.bizzabo.com/bizzabo.file.upload/736mNZlaR26ezuBNVfK7_Feb6AChandrasekaran.pdf

Unlocking Data in the Digital Asset Ecosystem

https://www.hkdca.com/wp-content/uploads/2025/02/unlocking-data-digital-asset-ecosystem-ft-partners.pdf

Software Winners and Losers: LTM Performance of Stock Prices & NTM Revenue Multiple

https://www.cantor.com/wp-content/uploads/2025/02/Software-and-SaaS-Sector-Update-Winter-2025_vFINALv2.pdf

AI drives >50% of all VC funding already; mostly in infrastructure and LLMs

https://www.prosus.com/~/media/Files/P/Prosus-CORP/investors/the-ai-x-ecommerce-revolution-how-ai-is-shaping-the-future%20of-online-marketplace.pdf

In most industries, Marketplaces are still in their early innings

https://www.prosus.com/~/media/Files/P/Prosus-CORP/investors/the-ai-x-ecommerce-revolution-how-ai-is-shaping-the-future%20of-online-marketplace.pdf

Game Changers 2025

https://www.cbinsights.com/reports/CB-Insights_Game-Changers-2025.pdf

Cybersecurity Industry Landscape

https://solganick.com/wp-content/uploads/2025/01/Solganick-Cybersecurity-Mergers-Update-Q4-2024.pdf

Five Innovation Platforms Are Catalyzing Accelerated Growth

https://research.ark-invest.com/hubfs/1_Download_Files_ARK-Invest/Big_Ideas/ARK%20Invest%20Big%20Ideas%202025.pdf

IPO Probability

https://www.elementpointe.com/wp-content/uploads/2025/01/2025.01.06-Top-Ten-Themes_CA.pdf

Median Multiple Trading at 5.2x EV/NTM Revenue Versus Long-Term Average of 4.8x

https://media-cdn.kroll.com/jssmedia/kroll-images/pdfs/executive-summary-global-software-sector-update-winter-2025.pdf

SaaS Deal Multiples by Quartile and Target Revenue

https://media-cdn.kroll.com/jssmedia/kroll-images/pdfs/executive-summary-global-software-sector-update-winter-2025.pdf

Venture capital is unattractive in a higher-for-longer rate environment

https://www.apolloacademy.com/wp-content/uploads/2025/01/020125_Chart_v2.pdf

The top 30 VC funds raised 75% of all venture capital in the US this year.

https://cdn.prod.website-files.com/645a6a00d2bbc7738a034140/67992f5d923370ed0d7b2866_State%20of%20the%20Market%202025%20Deck.pdf

Worldwide IT Spending Forecast

https://inclusioncloud.com/wp-content/uploads/2025/01/WP_AXIS_The-CIOs-Strategic-Guide-for-2025.pdf

Worldwide Technology Services Spending to Grow 9% in 2025 to $1.7 Trillion

https://solganick.com/wp-content/uploads/2025/01/Solganick-Technology-Services-MA-Update-Q4-2024-and-2025-Outlook-Final.pdf

Outlook for 2025

https://www.svb.com/globalassets/library/uploadedfiles/reports/state-of-the-markets-h1-2025.pdf

State of the Markets H1 2025

https://www.svb.com/globalassets/library/uploadedfiles/reports/state-of-the-markets-h1-2025.pdf

Enterprise Software and Healthtech were the most funded startup sectors in the US in 2024

https://dealroom.co/uploaded/2025/01/US-Q4-2024-Report.pdf?x30228

Key Themes for 2025

https://foundersib.com/core/uploads/2024/12/FA-SaaS-Newsletter-December-2024.pdf

Median Multiple Trading at 4.9x EV/NTM Revenue Versus Long-Term Average of 4.7x

https://media-cdn.kroll.com/jssmedia/kroll-images/pdfs/global-software-sector-update-fall-2024-executive-summary.pdf

The Rule of 40 (R40) in 2024

https://translinkcf.dk/wp-content/uploads/2024/12/Translink-CF-SaaS-Index-Valuation-Index-Q3-FY20245.pdf

Future of sales deal life cycle, powered by PredAI + GenAI

https://media-publications.bcg.com/BCG-Executive-Perspectives-AI-and-GenAI-in-Customer-Engagement-EP8-4Dec2024.pdf

AI is anticipated to have the largest impact on data analytics and data management workflows

https://media-publications.bcg.com/BCG-Executive-Perspectives-Future-of-Data-Management-with-AI-EP9-10Dec2024.pdf

founder-led sales are most prevalent in companies with lower revenue and smaller initial sale prices

https://cdn.prod.website-files.com/6359d12df3c8a494db42e037/67377918fc3243d7bfc14c74_LSVP%202024%20Sales%20Trends%20Report.pdf

Good vs. Great SaaS Metrics

https://www.cfodesk.co.il/wp-content/uploads/2024/10/2024-SaaS-Benchmarks-Report-by-High-Alpha.pdf

Generative AI market size and share, 2020-2030 (in US$ billion)

https://agatadata.com/wp-content/uploads/2024/11/AI_Trends-2024-Statista.pdf

Top areas of satisfaction in SaaS optimization

https://assets.kpmg.com/content/dam/kpmgsites/xx/pdf/2024/11/saas-optimization.pdf.coredownload.inline.pdf