SaaSletter - Fresh Benchmarks (n=1,880) + Curated Links
Featuring Benchmarkit, Coatue, OnlyCFO, and Dave Yuan
Benchmarkit SaaS Benchmarks
and Benchmarkit (fka RevOps Squared) just released their latest benchmarking study (n = 1,880)Before diving into *partial* excerpts, I wanted to flag the interactive data set here
Now excerpts from the full, ungated report at: https://benchmarkit.ai/benchmarks
Unique for the benchmark genre, historical + trended data:
Good quote on Ro40: "Rule of 40 is often artificially elevated by the higher growth rates found in the < $5M ARR cohort. As such Rule of 40 is not an instructive metric for this cohort."
"Low hanging fruit" dynamic - quick payback opportunities diminish with ARR scale, marginal spend goes to lower return GTM:
Net Revenue Retention: a reminder that public SaaS companies are truly exceptional (median NRR at 115% per Meritech Capital comp table) vs. this "real world" sample of 1,800 SaaS companies at 103% NRR
Great capital efficiency data:
The full report is 51 pages, so I can't highlight all of the interesting charts + data cuts!
Curated Links
Coatue released a strong state of the TMT markets deck at their conference - my excerpts here and the full deck here
- “Closing Sales Deals in 2023 - The state of software sales, how the best sales reps shine, and how to protect the business from bad deals”Dave Yuan’s “A Primer on Vertical Market Software” podcast episode with Invest Like The Best has been wildly popular on SaaSTwitter
A primer (~35-minute read) on the Modern Data Stack - Muji’s work like this is usually paywalled, so take advantage here
Morgan Stanley’s thematic group published an interesting study on the long-term track record of Rule of 40 NASDAQ Stocks - my highlights here
SaaS pricing/inflation benchmarks (n=140) here
Cloud Ratings Content
For new subscribers, we recently published our May 2023 SaaS Demand Index, an industry-wide top-of-funnel proxy based on high-intent search volumes (aka “okta pricing):
Claire Suellentrop (early Director of Marketing at Calendly’s inflection) recently published “Forget The Funnel” and joined our podcast to discuss the book:
