Despite the funding downturn in the global SaaS arena, B2B SaaS venture capital investment is making a comeback

  • SaaS deals dropped to 2,764, down 32% compared to 4,052 in 2022. 
  • The value of these transactions decreased to $72.9B, down 33.3% compared to $109.2B in 2022. 

However, the total dollars invested in enterprise SaaS startups perked up in the last months of 2023. Enterprise SaaS deals grew from $12.5B in Q3 2023 to $14B in Q4. A 12% gain just in one quarter—no mean feat. 

The positive trend in the enterprise SaaS sector signals a bright future for the SaaS industry. To capitalize on this upswing, we’ve spotted key VC firms specializing in SaaS in a curated list with their investment focus and contact details for easy reach.

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1. Founders Fund

➡️ Founders Fund, an industry, geography, and stage-agnostic fund, counts the famous investor Peter Thiel among its partners. The firm prefers funding difficult engineering or scientific projects. 

Location: San Francisco, CA

Funding stage: Early Stage, Late Stage

Total funds raised: $13.1B

Number of investments: 888

Number of exits: 144

Notable portfolio companies: Playbook, Pieta, Stripe

Contacts: LinkedIn

2. Sequoia Capital

➡️ Sequoia Capital is more than just a SaaS investor; this Silicon Valley giant has helped build legendary ventures from idea to IPO and beyond for over 50 years. With $35B in assets and a flexible investment approach, it has made over 1915 investments with 382 successful exits.

Location: Menlo Park, California

Funding stage: Early Stage, Late Stage

Average check size: $500K-$10M

Total funds raised: $35.1B

Number of investments: 1915

Number of exits: 382

Value-added beyond money:

  • Arc—a 7-week program for pre-seed and seed-stage founders with practical business insights and skills.

Notable portfolio companies: Capitalos, Increff

Contacts: LinkedIn

3. Kleiner Perkins

➡️ Kleiner Perkins steers software venture capital into startups worldwide through its extensive network of 20 venture and four growth funds. The firm partners with ventures from inception to IPO and beyond to maximize their ideas’ potential and shape the future of technology.  

Location: Menlo Park, California

Funding stage: Early Stage, Late Stage

Total funds raised: $9.2B

Number of investments: 1410

Number of exits: 336

Notable portfolio companies: Spotify, Coursera, InMobi

Contacts: LinkedIn

4. Lightspeed Venture Partners

➡️ Lightspeed, a multi-stage VC, has already backed over 500 companies worldwide. With a solid international footprint and over $25B in AUM, it mainly funds disruptive consumer, health, enterprise, and fintech projects. 

Location: Menlo Park, California

Funding stage: Seed to Series F and beyond

Average check size: $1M-50M

Total funds raised: $18.9B

Number of investments: 1338

Number of exits: 230

Notable portfolio companies: Payhawk, Descope, Stripe

Contacts: LinkedIn

5. Index Ventures

➡️ Index Ventures assists in raising capital for SaaS startups. With feet firmly on both sides of the Atlantic and supported by an extensive global network of investors and strategists, it funds stellar teams across every sector at every stage. 

Location: London, UK

Funding stage: Early Stage

Average check size: $1M-$10M

Total funds raised: $12.7B

Number of investments: 1128

Number of exits: 243

Value-added beyond money:

  • Index Press—a hub for startups seeking actionable insights and tips.

Notable portfolio companies: Zendesk, Lithic

Contacts: LinkedIn

6. FJ Labs

➡️ FJ Labs boasts the world’s largest portfolio of marketplace startups, with 30 becoming unicorns. As a stage-agnostic VC fund that operates with an angel investor approach, it eyes early-stage marketplaces globally, with a primary focus on the USA market. 

Location: New York, US

Funding stage: Early Stage, Late Stage

Number of investments: 1376

Number of exits: 91

Notable portfolio companies: Cleverea, Draft, Bennie

Contacts: LinkedIn

7. Greycroft Partners

➡️ Greycroft, a SaaS private equity investor with offices spanning 30 US states and 19 countries. The fund manages over $1B in assets and has made over 800 investments across various Internet sectors since 2006. 

Location: New York, US

Funding stage: Early Stage

Average check size: $1M-$10M

Total funds raised: $2.9B

Number of investments: 801

Number of exits: 133

Value-added beyond money:

  • Greylock Edge—a 3-month program for pre-idea, pre-seed, and seed founders.

Notable portfolio companies: Extreme Reach, Huffington Post, Icertis

Contacts: LinkedIn

8. True Ventures

➡️ True Ventures has been investing in early-stage tech companies since 2005. With more than 350 companies under its belt, the fund allocates seed and Series A funding into wellness, robotics, climatetech, and more ventures.

Location: Palo Alto, CA

Funding stage: Early Stage

Average check size: $1M-$3M

Total funds raised: $2.4B

Number of investments: 707

Number of exits: 114

Value-added beyond money:

  • Trueventures.org—a social impact initiative backed by True partnership’s personal funds and created to support founders tackling major societal and environmental issues.

Notable portfolio companies: Hashicorp, Sweetgreen

Contacts: LinkedIn

9. Charles River Ventures

➡️ Charles River Ventures has invested in over 600 early-stage tech companies since 1970.

Location: Palo Alto, CA

Funding stage: Early Stage

Average check size: $10M-$20M

Total funds raised: $4.1B

Number of investments: 668

Number of exits: 162

Notable portfolio companies: Zendesk, Ring

Contacts: LinkedIn

10. Craft Ventures

➡️ Craft Ventures is a SaaS startup funding firm focused on early-stage and growth investment.

Location: San Francisco, California

Funding stage: Early Stage

Total funds raised: $2B

Number of investments: 278

Number of exits: 22

Notable portfolio companies: ThriveCash, Returnly, Glide Labs

Contacts: LinkedIn

11. Scale Venture Partners

Scale, based in the Bay Area, focuses on enterprise software startups leveraging AI. With a track record of SaaS leaders like Hubspot and DocuSign, Scale supports founders in transitioning to scalable market strategies. 

Location: Foster City, CA

Funding stage: Early Stage, Late Stage

Average check size: $5M-$25M

Total funds raised: $3.7B

Number of investments: 299

Number of exits: 81

Notable portfolio companies: DocuSign, Hubspot, WalkMe

Contacts: LinkedIn

Despite the funding dip, enterprise SaaS startups see green shoots 

2024 can be a successful fundraising year if you have:

If you’re feeling overwhelmed with all the work ahead, outsource it—our team is here to help!

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Ruslana

CONTENT WRITER

Hello! I'm Ruslana, a Content Writer at Waveup. Based on my background in marketing research and business analytics, and my current collaboration with the savvy team at Waveup, I'm excited to share my insights and learnings with you.