Braze is a software company that just went public. Below are some of the highlights and learnings from their prospectus.

What they do. “Braze is a leading comprehensive customer engagement platform” and “empowers brands to listen to their customers better, understand them more deeply and act on that understanding in…

Weave is a software company that just went public. Below are some of the highlights and learnings from their prospectus.

What they do. “We are a leading all-in-one customer communications and engagement software platform for small and medium-sized businesses. Our cloud-based software platform streamlines the day-to-day operations of running a…

Expensify is a software company that just went public. Below are some of the highlights and learnings from their prospectus.

What they do. “Expensify is a cloud-based expense management software platform that helps the smallest to the largest businesses simplify the way they manage money. Every day, people from all…

How fast do you need to grow prior to exit? We looked at the last 67 SaaS IPO’s going back to MongoDB’s IPO in October 2017. The data is below.

On median, these companies grew revenue 42% from the prior year, while the average was 50%. Median overall revenue was…

A very important but often overshadowed metric in SaaS is gross dollar retention. Gross dollar retention measures how much of your customer revenue has remained with you a year later. Formulaically, it’s beginning ARR — downgrades — churn all divided by beginning ARR. It excludes upgrades.

While 91 SaaS companies…

BackBlaze is a software company that is about to go public. Below are some of the highlights and learnings from their prospectus.

What they do. “We are a leading storage cloud platform, providing businesses and consumers cloud services to store, use, and protect their data in an easy and affordable…

NerdWallet is a tech company that just went public. Below are some of the highlights and learnings from their prospectus.

What they do. “At NerdWallet, we empower consumers — both individual consumers and small and mid-sized businesses (SMBs) — to make smarter financial decisions with confidence. …

Net dollar retention is the most important measure in SaaS. Formulaically when measured over a 12 month period, it’s ARR 12 months ago + upgrades — downgrades — churn that occurred over the following 12 months, all divided by that beginning ARR. A healthy SaaS business has net dollar retention…

Fast growing SaaS businesses are usually unprofitable, but what is level of operating loss or burn is acceptable? We looked at the last 66 software IPOs to answer the question, going back to MongoDB in 2017. The data is below and observations follow.

Revenue to burn is 3.58x to 1…

Sammy Abdullah

co-founder at Blossom Street Ventures. Email me at sammy@blossomstreetventures.com

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