SaaS Investors & Venture Capital firms in 2025

Our complete guide in 2025 for the top investors and VC firms in SaaS.

Contributors: Carl Lager

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Last updated: April 21, 2025

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SaaS Investment Shifts: From Hyper-Growth to Measured Expansion

The SaaS sector experienced a year of adjustment in 2024, transitioning from the explosive growth of 2020–21 to a more disciplined investment climate. Venture funding for SaaS startups declined year-over-year, with investors adopting a more selective approach to late-stage deals.

Mega-Rounds Drop as Caution Takes Over

One of the main reasons for this slowdown was the lack of mega-rounds. In mid-2024, Crunchbase recorded only 21 SaaS funding rounds exceeding $100 million in the prior 12 months, a significant drop from 147 mega-deals in 2021. This underscores the end of an era where fast-growing SaaS startups could easily secure nine-figure investments.

Early-Stage Deals Remain Resilient

However, early-stage SaaS funding remained active, particularly as AI capabilities became more embedded into SaaS products. In fact, nearly half of SaaS startups raised funding in the last 12 months, a slightly higher rate than the previous year. This suggests that while late-stage funding has become scarce, early-stage investment continues to fuel new SaaS ventures, keeping the innovation pipeline intact.

black logos for saas vc firmsblack logos for saas vc firms

Leading Venture Capital Firms Investing in SaaS

SaaS remains a fundamental focus area for many of the world’s leading venture capital firms, though their investment strategies have evolved.

Prominent SaaS-focused investors such as Battery Ventures, OpenView Partners, and IVP continued to back promising cloud software startups in 2024. OpenView even released its annual SaaS benchmarks report, providing guidance for new investments in the sector.

AI Becomes a Central Theme

Multi-stage firms such as Sequoia, Andreessen Horowitz (a16z), and Lightspeed Venture Partners remained active in SaaS investing, though often with a focus on AI-driven SaaS solutions. As artificial intelligence became more integral to software offerings, many AI startups adopted SaaS business models, drawing significant investor interest.

Growth Investors Retreat from SaaS

The biggest shift in SaaS investment strategy came from growth-stage and crossover investors. Firms such as Tiger Global and Coatue, which had aggressively invested in SaaS during the peak years of 2021–22, significantly slowed their SaaS funding activity in 2023–24. Many of these investors pivoted to AI and public market opportunities, leaving late-stage SaaS funding rounds to be led by insider investors or specialized PE/VC firms.

Corporate Venture Arms Play a Bigger Role

At the same time, corporate venture arms have continued investing in SaaS to expand their product ecosystems. Salesforce Ventures and HubSpot Ventures made strategic investments in complementary SaaS products—for example, Salesforce Ventures backed Airbyte, a leading data integration startup, to strengthen its position in the enterprise data space.

These corporate-backed investments provide not just capital but also market access and distribution advantages, making them an increasingly important source of funding for SaaS startups.

Key Trends Reshaping the SaaS Investment Landscape

The macroeconomic downturn in 2024 impacted SaaS startups, but some stabilizing factors helped offset the slowdown. With economic uncertainty and inflation, many enterprise customers scrutinized their software spending, leading to longer sales cycles and downsized contracts. This trend, observed in multiple public SaaS earnings reports, put pressure on growth rates and made investors more cautious about high-burn SaaS models.

Efficiency Becomes the New North Star

In response, SaaS startups shifted their focus toward financial efficiency, adopting cost-control strategies and optimizing unit economics. This shift toward profitability-first growth aligned well with investor expectations, particularly in a high-interest-rate environment. Investors favored SaaS startups that demonstrated strong SaaS metrics gross margins, lower customer acquisition costs, and improved capital efficiency over those prioritizing rapid expansion at any cost.

Interest Income Offers an Unlikely Boost

Another unexpected financial advantage emerged: macro interest rate hikes led SaaS companies with large prepayment models to earn additional interest income. Since many SaaS businesses collect customer payments upfront, these cash reserves generated interest income, providing a small but meaningful financial cushion for startups navigating a tougher fundraising climate.

What to Expect in 2025 and Beyond

As 2025 begins, SaaS investment remains a core pillar of the venture capital ecosystem, though VCs are prioritizing efficiency and profitability over sheer growth. The next wave of SaaS success stories will likely be shaped by AI, automation, and deep integrations with enterprise infrastructure, ensuring that software remains at the heart of business transformation.

All leading SaaS Investors in 2025

Our complete list of all active venture capital firms and investors investing in SaaS startups.

Argon Ventures
Founded
1899
Investments
19
Exits
0
Investment stage
Pre-Seed
Seed
Series A
Company profile
See full breakdown
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Arka Venture Labs
Founded
2018
Investments
20
Exits
1
Investment stage
Pre-Seed
Seed
Series A
Company profile
See full breakdown
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Arrowroot Capital Management
Founded
2014
Investments
34
Exits
7
Investment stage
Pre-Seed
Seed
Series A
Company profile
See full breakdown
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Arthur Ventures
Founded
2008
Investments
67
Exits
12
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
See full breakdown
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Artiman Ventures
Founded
2000
Investments
100
Exits
18
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
See full breakdown
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Ascend Venture Capital
Founded
2018
Investments
34
Exits
0
Investment stage
Pre-Seed
Seed
Series A
Company profile
See full breakdown
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Ascension
Founded
2012
Investments
277
Exits
12
Investment stage
Seed
Series A
Company profile
See full breakdown
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Ascent Biomedical Ventures
Founded
2004
Investments
17
Exits
7
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
See full breakdown
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Ascent Venture Partners
Founded
1985
Investments
107
Exits
45
Investment stage
Pre-Seed
Seed
Series A
Company profile
See full breakdown
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Aspect Ventures
Founded
2014
Investments
117
Exits
20
Investment stage
Pre-Seed
Seed
Series A
Company profile
See full breakdown
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Asset Management Ventures
Founded
1965
Investments
152
Exits
29
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
See full breakdown
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Asterion Ventures
Founded
2021
Investments
12
Exits
0
Investment stage
Seed
Series A
Company profile
See full breakdown
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Asymmetric Capital Partners
Founded
2021
Investments
17
Exits
0
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Asymmetry Ventures
Founded
1899
Investments
187
Exits
2
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Atlantic Labs
Founded
2008
Investments
185
Exits
18
Investment stage
Pre-Seed
Company profile
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Atlas Venture
Founded
1980
Investments
569
Exits
171
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
See full breakdown
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Atomico
Founded
2006
Investments
204
Exits
38
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Atreides Management
Founded
2019
Investments
35
Exits
2
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Audacious Ventures
Founded
2020
Investments
11
Exits
0
Investment stage
Seed
Company profile
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August Capital
Founded
1984
Investments
282
Exits
78
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
See full breakdown
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Austin Ventures
Founded
1984
Investments
393
Exits
117
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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Authentic Ventures
Founded
2016
Investments
15
Exits
1
Investment stage
Seed
Series A
Series B
Company profile
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Avalanche (Avalabs)
Founded
2018
Investments
9
Exits
0
Investment stage
Pre-Seed
Seed
Series A
Company profile
See full breakdown
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Avalon Ventures
Founded
1983
Investments
181
Exits
49
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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Axon Ventures
Founded
2014
Investments
7
Exits
0
Investment stage
Seed
Series A
Series B
Company profile
See full breakdown
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Azafran Capital Partners
Founded
2017
Investments
2
Exits
0
Investment stage
Seed
Series A
Series B
Company profile
See full breakdown
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Azure Capital Partners
Founded
2000
Investments
167
Exits
39
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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B&Y Venture Partners
Founded
2015
Investments
35
Exits
4
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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BBQ Capital
Founded
2019
Investments
21
Exits
0
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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BEENEXT
Founded
2015
Investments
264
Exits
9
Investment stage
Seed
Series A
Series B
Company profile
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BIP Capital
Founded
2007
Investments
71
Exits
13
Investment stage
Seed
Series A
Company profile
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BRC Innovation
Founded
2016
Investments
20
Exits
6
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Backend Capital
Founded
2019
Investments
44
Exits
0
Investment stage
Seed
Series A
Series B
Company profile
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Backing Minds
Founded
2016
Investments
14
Exits
0
Investment stage
Pre-Seed
Seed
Company profile
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Backstage Capital
Founded
2015
Investments
146
Exits
3
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Baillie Gifford
Founded
1908
Investments
148
Exits
39
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Bain Capital
Founded
1984
Investments
126
Exits
57
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Bain Capital Ventures
Founded
1984
Investments
564
Exits
114
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
See full breakdown
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Baird Capital
Founded
2019
Investments
163
Exits
45
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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Balance Point Capital Partners
Founded
2011
Investments
32
Exits
11
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Balderton Capital
Founded
2000
Investments
376
Exits
73
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Baltic Sandbox Ventures
Founded
2018
Investments
18
Exits
Investment stage
Pre-Seed
Seed
Company profile
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Bank of Montreal
Founded
1817
Investments
54
Exits
23
Investment stage
Series B
Series C
Series D
Company profile
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Barclays
Founded
2018
Investments
9
Exits
1
Investment stage
Series A
Series B
Series C
Series D
Company profile
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Baroda Ventures
Founded
1998
Investments
58
Exits
14
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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Base10 Partners
Founded
2017
Investments
80
Exits
1
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Basis Set Ventures
Founded
2017
Investments
54
Exits
3
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Battery Ventures
Founded
1983
Investments
803
Exits
196
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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Bay Partners
Founded
1978
Investments
190
Exits
67
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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BayBG
Founded
1972
Investments
104
Exits
11
Investment stage
Seed
Series A
Series B
Series C
Company profile
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Bayern Capital
Founded
2011
Investments
78
Exits
12
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Bedrock Capital
Founded
2017
Investments
55
Exits
1
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Bee Partners
Founded
2008
Investments
107
Exits
13
Investment stage
Pre-Seed
Seed
Company profile
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Ben Franklin Technology Partners
Founded
1983
Investments
33
Exits
2
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Benchmark
Founded
1995
Investments
653
Exits
177
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Benhamou Global Ventures
Founded
2004
Investments
94
Exits
20
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
See full breakdown
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Beringea
Founded
1988
Investments
149
Exits
27
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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Bessemer Venture Partners
Founded
2011
Investments
1257
Exits
281
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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Betaspring
Founded
2009
Investments
74
Exits
7
Investment stage
Seed
Company profile
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Betaworks
Founded
2007
Investments
210
Exits
68
Investment stage
Seed
Series A
Series B
Company profile
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Betaworks Ventures
Founded
2008
Investments
37
Exits
5
Investment stage
Seed
Company profile
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Big Basin Capital
Founded
2013
Investments
19
Exits
1
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Bigfoot Capital
Founded
2017
Investments
41
Exits
5
Investment stage
Seed
Company profile
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Bioventures Investors
Founded
1998
Investments
37
Exits
8
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
See full breakdown
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Blackbird Ventures
Founded
2012
Investments
195
Exits
10
Investment stage
Seed
Series A
Series B
Company profile
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Blackhorn Ventures
Founded
2016
Investments
73
Exits
4
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Blackstone Group
Founded
1985
Investments
182
Exits
59
Investment stage
Series B
Series C
Series D
Company profile
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Blazar Capital
Founded
2017
Investments
9
Exits
0
Investment stage
Seed
Company profile
See full breakdown
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Blisce
Founded
2012
Investments
52
Exits
13
Investment stage
Series B
Series C
Series D
Company profile
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Blockchange Ventures
Founded
2017
Investments
36
Exits
2
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Bloomberg Beta
Founded
2013
Investments
239
Exits
33
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Blu Venture Investors
Founded
2010
Investments
82
Exits
5
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Blue Cloud Ventures
Founded
2012
Investments
49
Exits
21
Investment stage
Series B
Series C
Series D
Company profile
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Blue Heron Capital
Founded
2006
Investments
26
Exits
3
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
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Blue Star Innovation Partners
Founded
2017
Investments
3
Exits
1
Investment stage
Series B
Series C
Series D
Company profile
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Blue Startups
Founded
2012
Investments
115
Exits
5
Investment stage
Seed
Company profile
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BluePointe Ventures
Founded
2014
Investments
14
Exits
4
Investment stage
Seed
Series A
Series B
Company profile
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BlueRun Ventures
Founded
1998
Investments
297
Exits
38
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Blueprint Equity
Founded
2018
Investments
8
Exits
0
Investment stage
Series C
Series D
Company profile
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Bluestein Ventures
Founded
2009
Investments
26
Exits
2
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Blumberg Capital
Founded
1991
Investments
218
Exits
44
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
See full breakdown
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Blume Ventures
Founded
2011
Investments
283
Exits
25
Investment stage
Seed
Series A
Series B
Company profile
See full breakdown
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Boathouse Capital
Founded
2009
Investments
23
Exits
2
Investment stage
Series C
Series D
Company profile
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Boldstart Ventures
Founded
2010
Investments
157
Exits
23
Investment stage
Seed
Company profile
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Bolt
Founded
2013
Investments
105
Exits
13
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Bond
Founded
2018
Investments
71
Exits
4
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Bonfire Ventures
Founded
2005
Investments
87
Exits
3
Investment stage
Seed
Company profile
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Bonnier Ventures
Founded
2013
Investments
49
Exits
8
Investment stage
Pre-Seed
Seed
Company profile
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Boost VC
Founded
2012
Investments
271
Exits
29
Investment stage
Seed
Company profile
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Borealis Ventures
Founded
2002
Investments
53
Exits
13
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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Boro Capital
Founded
2017
Investments
22
Exits
2
Investment stage
Pre-Seed
Seed
Company profile
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Boston Millennia Partners
Founded
1984
Investments
133
Exits
58
Investment stage
Seed
Series A
Series B
Series C
Series D
Company profile
See full breakdown
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Boulder Food Group ('BFG')
Founded
2014
Investments
16
Exits
0
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Bowery Capital
Founded
2013
Investments
83
Exits
13
Investment stage
Pre-Seed
Seed
Series A
Company profile
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BoxGroup
Founded
2009
Investments
559
Exits
103
Investment stage
Pre-Seed
Seed
Series A
Series B
Series C
Company profile
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Bragiel Brothers
Founded
2016
Investments
60
Exits
3
Investment stage
Pre-Seed
Seed
Series A
Company profile
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BrandProject
Founded
2013
Investments
33
Exits
8
Investment stage
Seed
Company profile
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Branded Hospitality Ventures
Founded
2019
Investments
43
Exits
2
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Bread and Butter Ventures (fka The Syndicate Fund)
Founded
2017
Investments
59
Exits
1
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Break Trail Ventures
Founded
2018
Investments
31
Exits
1
Investment stage
Pre-Seed
Seed
Series A
Company profile
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Who are the investors and VC firms usually investing in SaaS companies?

The investors and venture capitalists (VCs) investing in SaaS companies typically come from a variety of backgrounds, ranging from large venture capital firms to angel investors.

Large VC firms like Andreessen Horowitz, Founders Fund, Sequoia Capital, Kleiner Perkins Caufield & Byers, Accel Partners, Lightspeed Venture Partners, and Benchmark have invested in some of the largest SaaS companies in the market today. In addition to large venture capital firms, there are also many angel investors that have made investments into early-stage SaaS startups. These include AngelList, 500 Startups, Techstars, Mucker Capital, Y Combinator, and many more. Many of these venture capitalists and angel investors are focused on specific areas of the SaaS market such as enterprise software, mobile applications, cloud computing, data analytics, artificial intelligence, machine learning, etc.

There are also a number of corporate venture capital (CVC) funds that invest in SaaS companies. Examples of these include Google Ventures, IBM Ventures, Salesforce Ventures, Microsoft Ventures, and Amazon Alexa Fund. These CVCs typically invest in startups that can help further their core business interests or allow them to access new markets and technologies.

What are the benefits of SaaS in the eyes of an investor or venture capitalist?

Investors and venture capitalists tend to be attracted to SaaS companies due to the potential for high returns on investment. The subscription-based nature of these businesses allows them to generate steady recurring income, which can lead to higher profits down the line.

Since most SaaS companies are cloud-based, they require minimal up-front capital and can scale quickly, which further reduces the risk associated with investing in them.

What are some tips for pitching to VC firms as a SaaS company?

When pitching to VC firms as a SaaS company, it's important to focus on the value your product or service can bring to potential customers. Be sure to explain how your solution solves the customer's problem in an efficient and cost-effective way. Additionally, be prepared to demonstrate that you have a clear understanding of the competitive landscape and what sets your product apart from others. Summarize the key points of your pitch (including expected return on investment) clearly and concisely so that investors understand why they should invest in your company.