The State of Enterprise Software
2026
Key Takeaways
The State of Enterprise Software Report is Silicon Valley Bank’s annual analysis of venture capital investment, fundraising, exits and startup trends across the enterprise software sector. Backed by SVB survey data and our unique vantage point in the innovation economy, the report explores a pivotal moment for the sector: The enterprise software industry is entering a new phase, one where AI adoption is expected and teams are making increasingly informed decisions based on the value offered by AI tools. The question now is not whether companies are using AI, but how are companies using it to boost productivity among their workforce and grow revenue. Call it RO(AI).
65% Of US enterprise software venture capital went to AI startups in 2025.
Rising capital needs and AI enthusiasm drove an outsized share of VC, with investors wanting to bet on the next wave of innovation.
356 US VC-backed enterprise software unicorns now exist.
More than 75 new unicorns have entered the stable since 2025, as record capital has poured in targeting AI-native companies.
46% Of enterprise software M&A deals had a US VC-backed buyer.
Accelerating disruption and the need to become AI-native have pushed sellers to seek earlier exits and (previously non-AI-native) buyers to add new AI talent and capabilities.









