Key SaaS trends
Softening valuations: Which areas are shielded?
The early-stage remains resilient as the later-stage sees softening given its stronger connection to public comparables.
Subsectors such as cyber as well as startups located on the urban coasts are continuing to command a premium, with median valuation step-ups well above the rest.
Will down rounds see an upturn?
While our analysis has yet to register a major uptick in the number of down rounds, market chatter reflects a growing number of startups discussing flat or down-round financing.
Debt financing requests are on the rise as startups begin to hedge against a tougher equity market heading into 2023.
Written and researched by SVB experts
Our deep relationships with top entrepreneurs and investors inform our insights and give us a vantage point unlike any other bank.