The SaaS apocalypse is a tidy story. AI eats workflows. Seats compress. Systems of record become legacy. Sell the incumbents. The numbers tell a different story — and so does the architecture. The bears are pricing seat compression. They're missing the consumption layer being built on top.

Discusses the significant volume of AI acquihires in 2025, and how and why these are mutually attractive to both big tech and early stage start-ups, as well as why this should only increase in the coming years.

PE Takes Another Rule of 40 SaaS Vendor Private at 6x. We’ve Analyzed the Last 8 SaaS Take Privates, and Predicted Who’s Next!

With Q2 behind us, we have pulled Pitchbook data covering the last five years, encompassing 84,000 US-based transactions. Some trends were expected, others pleasantly surprising.

$330b of 4 year + old dry powder coupled with rate cuts to boost M&A demand starting in Q3 2024

$3 trillion of 5 year + old portfolio companies coupled $300 billion in loan maturities to drive sellers starting in Q3 2024