Sectors · Software & IT

SaaS / Software

Private financing across SaaS / Software, aggregated from public sources.

SaaS / Software is a subsector of Software & IT. Zoom out to read the whole macro sector — $182.9B raised across 8,264 companies.

Software / Tech$101.3BAI / ML$56.4BComputers$23.3BData / Analytics$208.0MDeveloper Tools$122.6MTechnology / Media—
$1.6B
Capital raised
381
Companies
94
Rounds
2013
First on record
2025-06-17
Latest round

Cooling SaaS / Software drew — over the last 12 months, down 100% versus the prior 12 ($133.9M). Of 16 companies rankable against same-niche peers, 19% model over-valued and 19% under-valued.

Capital flow over time

Quarterly capital raised across SaaS / Software.

2013-Q1 · $10.7M2013-Q12013-Q2 · $6.7M2015-Q1 · $505K2015-Q4 · $38.1M2016-Q1 · $917K2016-Q12016-Q2 · $200K2016-Q3 · $500K2016-Q4 · $2.9M2017-Q1 · $12.5M2017-Q12017-Q2 · $84.6M2017-Q3 · $20.8M2018-Q1 · $8.5M2018-Q2 · $13.7M2018-Q22018-Q3 · $93.6M2019-Q1 · $13.3M2019-Q2 · $19.7M2019-Q3 · $27.6M2019-Q32019-Q4 · $15.8M2020-Q1 · $100K2020-Q2 · $11.6M2020-Q3 · $81.9M2020-Q32020-Q4 · $14.6M2021-Q1 · $18.3M2021-Q2 · $161.7M2021-Q3 · $42.4M2021-Q32021-Q4 · $419.1M2022-Q1 · $71.9M2022-Q2 · $64.8M2022-Q3 · $17.8M2022-Q32022-Q4 · $44.0M2023-Q1 · $500K2023-Q3 · $8.0M2023-Q4 · $145.1M2023-Q42024-Q3 · $91.5M2024-Q4 · $185K2025-Q1 · $7.0M2025-Q2 · $35.3M2025-Q2
Median round size by stage
StageMedian roundRounds
Series D+$141.7M4
Series C$75.0M7
Series B$18.5M14
Series A$9.4M26
Seed$2.6M25
Pre-Seed$500K18
Top-funded companies
CompanyStageRaisedModeled value
Snapdocs, Inc.
SAN FRANCISCO
Series D+$265.0M$4.3B
Auto Saas Holdings Llc
CHICAGO
Series D+$152.5M$3.9B
PagerDuty, Inc.
SAN FRANCISCO
Series C$144.5M$3.2B
Heap Inc.
San Francisco
Series D+$148.7M$2.8B
Bitrise, Inc.
BUDAPEST
Series C$118.3M$2.2B
Cortex, Inc.
MENLO PARK
Series D+$133.4M$1.9B
SaaS Labs US, Inc.
PALO ALTO
Series C$54.7M$946.8M
Submittable Holdings, Inc.
MISSOULA
Series C$150.4M$875.3M
Coursedog, Inc.
NEW YORK
Series B$22.2M$497.2M
Thunkable, Inc.
SAN FRANCISCO
Series B$25.3M$483.2M
Nimble, Inc.
SANTA MONICA
Series A$12.5M$395.3M
GitPrime, Inc.
DURANGO
Series A$13.8M$385.0M
Ramani Corp
EAST PALO ALTO
Series A$42.1M$366.8M
Berbix Inc.
SAN FRANCISCO
Series A$14.0M$364.5M
PopSQL, Inc.
SAN FRANCISCO
Series B$17.4M$352.5M
SimpleLegal, Inc.
MOUNTAIN VIEW
Series A$11.7M$318.1M
SaaS Optics, LLC
PEACHTREE CORNERS
Series A$13.7M$285.1M
Fable, Inc.
NEW YORK
Series A$15.0M$280.1M
GetAccept Inc.
SAN FRANCISCO
Series A$8.9M$279.8M
Okteto Inc.
SAN FRANCISCO
Series A$17.9M$248.8M
Related sectors
Sports & Fitness$2.0BTourism and Travel Services$1.2BHospitality / Travel$883.6MLegaltech$772.8MEnergy$2.5BProptech / Real Estate$2.6BEdtech$2.8BData / Analytics$208.0M

Browse all sectors or the full company rankings.

Frequently asked
How much venture funding has the SaaS / Software sector raised?
Companies in SaaS / Software have raised approximately $1.6B across 94 recorded financing rounds among 381 companies, aggregated from public sources.
Is SaaS / Software venture funding growing?
SaaS / Software funding is currently cooling: capital raised over the last 12 months was down 100% versus the prior 12 months.
What is the typical round size in SaaS / Software?
Median disclosed round sizes in SaaS / Software by stage are: Series D+ $141.7M, Series C $75.0M, Series B $18.5M, Series A $9.4M. These are medians across recorded rounds, not averages.
Which are the most-funded SaaS / Software companies?
The most-funded SaaS / Software companies in our coverage include Snapdocs, Inc., Auto Saas Holdings Llc, PagerDuty, Inc., Heap Inc., Bitrise, Inc.. See the full ranked table for disclosed capital and modeled valuations.
When did SaaS / Software funding activity begin in this data?
The earliest recorded SaaS / Software financing in our coverage dates to 2013, with the most recent round around 2025-06-17.
SaaS / Software venture funding — $1.6B raised · Provath