SaaS Historical Benchmarks 2024 Benchmarkit Update
RESEARCH SERIES BY
SaaS Historical Benchmarks - Executive Summary
2010 to 2021 Benchmarks:
‘10-’21 Change
‘10-’21 CAGR 2022 2023
‘10-’23 Change
'10-’23 CAGR
‘10-’23 Heatmap
2010 2021
Net Revenue Retention 106% 109% 3% Gross Revenue Churn 5% 14% 9% % Revenue From Expansion 19% 46% 27%
103% 101% (5%) 11% 11% 6% 33% 35% 16%
New Logo CAC $0.93 $1.78 91% 6% $1.76 $1.76
89% 5%
Expansion CAC $0.28 $0.61
118% 7% $0.69 $1.00 257% 11%
Field Sales CAC $1.00 $2.07 107% 7% Inside Sales CAC $0.90 $1.40 56% 4%
Revenue Per Employee ($k) * $142 $143
1% 0%
$156
10% 1%
2022 to 2023 Benchmarks:
Margins: Gross Margin 71% 73% 2% Sales + Marketing 32% 40% 8%
72% 74% 3% 34% 34% 2% 30% 30% 7% 24% 23% 9%
R+D 23% 25% 2% G+A 14% 19% 5%
EBITDA 1% (10%)
(11%)
(10%) (10%)
(10%)
Revenue Growth 45% 28% (17%) Rule of 40 ** 46% 18% (28%)
30% 27% (18%) 14% 14% (32%)
Source: Pacific Crest / Key Banc / Benchmarkit Surveys. *: Rev/FTE starts 2014 **: 2022 + 2023: Derived from P&L, differs from report median. Social Attribution: @CloudRatings + @SaaSlette.r
Cumulative SaaS Funding History - 2008 - 2024
Early Stage
Late Stage
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$0
Source: Crunchbase Hubs Social Attribution: @CloudRatings + @SaaSletter
SaaS Funding History - 2008 - 2024
Early Stage
Late Stage
$14,000
$12,000
$10,000
Stripe - Series I: $6.5b - Mar’23
$8,000
$6,000
$4,000
$2,000
$0
Source: Crunchbase Hubs Social Attribution: @CloudRatings + @SaaSletter
% of Revenue From Expansion - 2010-2023
50%
40%
30%
20%
10%
2010 2011 2012 2013 2014 2015 2016 2017 2018 2020 2021 2021 2022 2023 19% 14% 13% 14% 16% 15% 19% 34% 37% 36% 46% 30% 33% 35%
0%
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
$2.00 New Logo CAC - 2009-2023
$1.50
$1.00
$0.50
$0.73 $0.93 $0.90 $0.92 $1.07 $1.18 $1.13 $1.15 $1.32 $1.34 $1.62 $1.67 $1.78 $1.58 $1.76 $1.76
$0.00
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
Expansion CAC - 2009-2023
$1.00
$0.80
$0.60
$0.40
$0.20
$0.28 $0.18 $0.17 $0.18 $0.28 $0.27 $0.57 $0.66 $0.61 $0.61 $0.69 $0.61 $0.69 $1.00
$0.00
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
Net Revenue Retention - 2010-2023
120%
100%
80%
60%
40%
20%
106% 106% 101% 103% 104% 102% 101% 102% 103% 102% 109% 105% 103% 101%
0%
2010 2011 2012 2013 2014 2015 2016 2017 2018 2020 2021 2021 2022 2023
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
10% 12% 14% Gross Revenue Churn - 2009-2023
0% 2% 4% 6% 8%
8% 5% 5% 9% 6% 7% 8% 8% 13% 13% 14% 13% 14% 13% 11% 11%
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
P&L Summary - 2009-2023
Gross Margin Sales + Marketing R+D G+A EBITDA
-40% -20% 0% 20% 40% 60% 80%
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
Rule of 40 = Growth + Margins - 2009-2023
Rule of 40 Revenue Growth EBITDA Margins
60%
40%
20%
0%
-20%
-40%
Source: Pacific Crest / Key Banc / Benchmarkit Surveys Social Attribution: @CloudRatings + @SaaSletter
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