Welcome. This is a list of venture capitalists, funds, and other SaaS investors actively writing checks to tech companies in 2024.
Whether you’re looking for pre-seed capital, early-stage investors, or some cash to help you expand, you'll find investors on this list that may be a good match.
Browse the list of 30 venture capital firms and other investors that partner with SaaS businesses below. You’ll find details including some information about the firm and what types of investments they tend to make.
The Current State of SaaS
It’s important to know what's happening in the broader SaaS industry - and its subsequent funding - before diving into the list in your search for potential partnerships.
Here are some of the most prominent trends you'll want to keep in mind when you go looking for funding:
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Less Money To Go Around
First: the bad news. SaaS investments, according to Dealroom, were down 53% in 2023 compared to 2022 - from $207.2B down to $108B - continuing the downward trend we've been seeing since 2021.
With that being said, though investors are being more cautious than they used to, SaaS is still the favorite, with 47% of 2023's total recorded investments going toward SaaS firms.
B2B SaaS is More Attractive
If you're a B2B SaaS company, you're in luck. 90% of the $108B invested in SaaS went toward B2B companies.
That being said, SaaS businesses can be difficult to categorize, and many straddle the line between B2C and B2B.
Slack, for example, is both a B2B and B2C solution, and DocuSign is a B2B service that provides numerous benefits for its consumer end users, so it lives in a sort of gray area.
Lower Multiples
SaaS company valuation multiples have trended down over the last couple of years, especially in comparison to valuations from 2015 to 2020. In 2022, Bessemer reported that SaaS multiples had dropped by 75% year-over-year.
Unfortunately, while most VCs think we're nearing the bottom of valuations, no one wants to be the one caught holding the bag if things continue to slip.
This doesn’t mean it’s impossible to find an investor, but you may need to do a bit more research and legwork. Investors may also be more willing to jump on companies benefiting from current SaaS growth trends, including companies focused on:
- Automation
- Artificial intelligence
- Cybersecurity
- Health tech
Clear Plans & Experience Win
With all of that said, you can still find growth capital from the right people - you just need to show them why you’re the right one to support.
How to prove you're legit
Unfortunately, “because I had the idea” doesn’t cut it in this kind of market.
SaaS businesses and startups with experienced operators at the helm and/or a clear, compelling plan for execution are more likely to connect with investors.
Clear plans don’t simply mean knowing your market; they mean having proof of execution and budgets that have withstood pressure tests to back up your words.
After all, they're not just investing in the company, they're investing in you as the right person to run it.
AI Concentration
I have to call out the elephant in the room: a lot of money is flowing toward AI.
Watch out though - unless you’re truly building a long-term AI business (and have proof of concept to back that claim up), following this lead will cause you to put a lot of effort into checks that will never come.
I used to work in venture capital and trust me, the trend chasers never make it out in the end.
With offices located in San Francisco and Palo Alto, Accel is a well-known VC funding firm with an interest in the SaaS and technical markets.
It was founded in 1983 and has been instrumental in Silicon Valley and beyond, funding rounds for notables such as Facebook, Slack, and Spotify.
Accel offers partnership opportunities on many different levels, including seed-round funding, and has invested more than $19 billion across over 500 different companies.
A Canadian venture capital firm based out of Victoria, Tiny Capital is primarily engaged in seed-stage funding in amounts ranging from $100,000 to $50 million.
While this VC firm does sometimes support growing businesses with larger investments, expect most opportunities to fall on the lower side of that range.
Tiny Capital most commonly invests in startup or growth-stage businesses.
Costanoa Ventures, founded in 2012 and located in San Francisco, primarily invests in early-stage development for market disrupters, with a specialization in enterprise and fintech services.
This firm’s strategy targets seed and Series A rounds, priding itself on only making a limited number of investments a year to best serve its business partners.
Bessemer is an established name in venture capital, founded by Henry Phillips in 1911.
A recognized expert in the niche, Bessemer invests at all stages, including pre-seed, seed, Series A, Series B, and growth phases. The business also has more than 100 successful IPOs in its history and was an early investor in numerous significant market players, like Pinterest and Canva.
Preseed Ventures is interested in early-stage—pre-seed and (ironically) seed—investment opportunities, with total investments exceeding $450 million.
This Danish firm has a heart for startups that go beyond metrics, though potential profitability obviously does matter.
Location counts, too; most investments are limited to Denmark and Southern Sweden.
Point Nine Capital is based in Berlin but invests in SaaS businesses across the globe, and is most interested in early-stage B2B businesses.
Firms that specialize in SaaS solutions, as well as crypto-adjacent technology, may have the best chance with this VC firm.
Point Nine partners with “entrepreneurs that demonstrate passion and capability within their niche”, and has been known to cut checks ranging from $500,000 to $5 million.
Emergence Capital was started in 2003 by co-founders Brian Jacobs, Gordon Ritter, and Jacob Green.
The firm mostly funds enterprise SaaS companies in early and growth stages and has previously supported prominent brands like Salesforce and Zoom.
Another firm based out of San Francisco, Precursor Ventures focuses on seed-stage investing in the $100,000 to $300,000 range. In 2023, however, the firm made investments of up to $10 million in various early-stage technical projects.
Precursor specializes in market sectors like AI, e-commerce, marketplaces, and fintech.
I’d be crazy to leave Andreessen Horowitz out.
a12z is an esteemed name in venture capital pretty much since the firm’s launch in 2009 and has become well known for its foothold in investments in the technology sector.
Andreessen Horowitz has billions of dollars for funding and tends to follow—or perhaps create—trends in the market. In 2024, the firm seems most interested in capitalizing on opportunities related to machine learning and AI, as well as data science.
SaaStr started out as in 2012 as a community of entrepreneurs in the SaaS space with nothing more than a WordPress blog, sharing stories of Jason Lemkin’s success at EchoSign.
Accordingly, its development efforts are concentrated on helping SaaS businesses grow and succeed, with an affiliated $90 million venture fund that targets seed-stage investors.
Located in Buenos Aires, NXTP Ventures concentrates on pre-seed, seed, and Series A stage venture funding for businesses throughout Latin America.
The firm offers funding ranging from $500,000 to $2 million and has a wide market focus that includes AI, automation, blockchain, crypto, e-commerce, healthcare, logistics, and cybersecurity.
Another one of the industry giants, Sequoia Capital is a global venture capital firm out of Menlo Park, California, known for backing giants like LinkedIn early on. It focuses primarily on early-stage funding and provides investment capital for seed, Series A, Series B, and growth stages.
Sequoia made a number of major tech investments in 2023, focused on sectors like healthcare, energy, financial, and mobile startups.
Just like Sequoia, DN Capital is also located in Menlo Park. It makes investments in North America and Europe with concentrations in technology-related sectors, including – you guessed it – SaaS.
An early-stage investor, this firm is more likely to be interested in pre-seed, seed, Series A, and Series B opportunities.
Like many other venture capital firms interested in tech, Matrix Partners is based out of San Francisco.
It funds projects and businesses in the United States, India, and China, and has been known to make investments ranging from around $5 million to $20 million.
This firm is interested in funding SaaS solutions across fintech, consumer and B2B services, security, and enterprise tools.
With a home office in New York City, Boldstart Ventures has positioned themselves as a first-check investor.
Boldstart’s model seeks entrepreneurs and fledgling startups with promising concepts and disruptive ideas, making pre-seed and seed investments most often ranging from $250,000 to $2.5 million.
New Enterprise Associates is located in Menlo Park, California, and boasts a large team of partners, including Aaron Jacobson, Blake Wu, Andrew Schoen, and Melissa Taunton.
This firm is involved in investment rounds ranging from pre-seed to Series C and growth stages, with a focus on data and AI as growth tools.
Notion Capital was founded in 2009 with the purpose of providing support services to entrepreneurs in technical sectors.
In addition to offering networking opportunities, the firm funds endeavours in fintech, cloud computing, and enterprise services.
Notion Capital is based in London and primarily partners with businesses in Europe.
With a name like that, you’d probably guess that Kickstart Fund invests in early-stage opportunities… and you’d be right.
Kickstart primarily invests in tech startups in the pre-seed and seed stages, though they occasionally go for some Series A opportunities.
Investments range from $200,000 to $2 million on average, with a focus on businesses in the American West, including Utah, California, and Colorado.
Founded in 1996, Northzone has invested in, and worked long-term with more than 100 partners including Spotify.
In 2024, Northzone’s focus appears to be broad-based, funding companies in banking, finance, e-commerce, and food science across both North America and Europe.
Scale Venture Partners seems to have a tighter investment focus than most others on this list, concentrating on enterprise and digital health solutions.
In 2020, Scale led a $40M Series B round for Papaya Global, a cloud-based platform for payroll management. Since 2022, it has invested heavily in tech such as robotics and AI.https://www.scalevp.com/
Located in New York City, 2048 Ventures is a VC firm that works primarily with businesses in the pre-seed stage.
This firm seeks out entrepreneurs that are championing disruptive start-up concepts backed by technology and data. Some areas 2048 Ventures is likely to invest in include API and data platforms, marketplaces, networks, B2B, and consumer subscription platforms—especially those related to science and tech.
Easter egg: On a completely unrelated note, does anyone else remember the 2048 game that was super popular on early smartphones?
I loved that game and writing this made me want to go play it. I got to 1028 on my first try… so if you hit 2048, email me with proof for a special reward.
As you’d guess from the name, 500 Global invests in companies all over the world, focusing on technology related to education, financial services, and entertainment.
500 funds in the seed and Series A rounds, with average investments ranging from $250,000 to $3 million.
AngelPad is, as many others are, interested specifically in seeing product-market fit.
To win with this VC firm’s attention, you need a strong understanding of your target market and the unique impact of your solution.
This firm invests globally as an angel investor in seed stages, with individual investments historically going as high as $40 million.
Based out of San Francisco, 1517 Fund works primarily with U.S.-based startups in technology sectors, including in the mobile app, healthcare, enterprise, and IT spaces.
Recent investments from this firm range from $1.5 to $40 million.
Battery Ventures is a large firm with 30 individual VCs and a history of success with investments in 160 tech startups and growth companies.
It works with businesses across the globe and has funded ventures with $75 million or more, though its sweet spot is less than that… because that’s a lot of cash.
Based out of – you guessed it – Atlanta, Georgia, Atlanta Ventures concentrates on pre-seed, seed, and Series A stages, with funding ranging from $250,000 to $5 million on average.
If you don’t meet their original investment requirements, including >$1 million ARR, you may be better off checking out their Studio, which works to build ventures from the ground up together with you.
Frontline Ventures funds businesses in the United States and Europe, focusing specifically on B2B SaaS companies with international ambition.
It funds at all stages, from pre-seed to growth, with a wide range of investment strategies – including revenue-based financing, depending on your business’ current needs.
Ventech Capital has offices around the world, including in France, Germany, Hong Kong, and the United States.
It funds globally, with recent concentrations in Europe and China, and has made more than 200 investments since it was founded in 1998.
Ventech Capital’s current focus is wide-ranging and includes digital media, marketplaces, entertainment, B2B, and hardware. Funding is focused on, but not limited to, seed and Series A rounds.
Prime Ventures is a firm in the Netherlands on the lookout for upcoming global leaders in security, deep tech, infrastructure, digital health, and enterprise software niches.
The company primarily invests in Series A, Series B, and Series C stages, and looks for partners that are already generating revenue and posting strong KPI metrics.
Located in London, Eight Roads has provided VC funding to startups and growing businesses for more than five decades. This firm looks for companies that are in Series A or B rounds with a product fit to market and a need to scale.
This firm invests in businesses across the globe in a wide range of B2B and B2C tech sectors, including digital health, cybersecurity, and insurance.
Fun fact: Eight Roads was one of Chinese e-comm giant Alibaba’s first investors in 1999.
Be Sure to Be Ready
Before you reach out and ask any of these companies for money, you'll want to ensure you've figured out your company and ironed out a few of the kinks.
I talked with an experienced tech founder about how you can do exactly that, which I highly recommend reviewing before you move forward.
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