For Founders
Investor database
Access the ultimate investor list with 12,000+ VCs, angels, and more.
Fundraising CRM
Keep your raise organized with a smart CRM that keeps you on track.
Pitch deck tracking
Securely share, track & manage your pitch deck with investors
For Investors
Startup deal flow
Access top 1% rounds before they close - no commission, no equity.
LP database
Search our private base of 10,000+ HNWI, FoF, FOs, and more
LP/GP Events
Meet your next LPs at 400+ curated events
All investor lists > SaaS
Browse OpenVC's database of investors funding startups in vertical SaaS, enterprise SaaS, cloud solutions, and subscription software.
Last update: June 9, 2026
List author: Lucas Roquilly
Shortlist investors, submit pitch decks, and get replies
Use code "OpenVC". Conditions apply.
Fundraising in SaaS is a game of metrics, momentum, and investor fit—and most founders play it wrong.
Venture capitalists love SaaS because of recurring revenue, scalability, and high margins. But loving SaaS as a concept doesn’t mean they’ll fund just any software startup. If your metrics are weak, your positioning is vague, or your go-to-market isn’t working, good luck getting past the first meeting.
This guide will cut through the fluff and show you exactly what SaaS investors want, how to find the right ones, and how to pitch them without wasting time.
SaaS funding is back on the upswing. According to Sapphire Ventures, global investment in SaaS increased 7% YoY, reaching $159B in 2024. SV is also optimistic for 2025 — predicting double-digit growth for VC funding for the first time since 2021.
The market is healthier, but SaaS VC firms and angel investors are more selective than ever. For founders, this means rounds are possible, but demonstrating efficiency, retention, and clear growth potential is critical to stand out.
Enterprise-focused SaaS continues to attract the bulk of funding, with roughly 90% of investment going to B2B companies. Investors favor solutions that deliver measurable business value, like workflow automation, cost savings, or revenue generation. If your SaaS addresses a tangible pain point for businesses, you’re more likely to capture investor attention (even in a cautious market).
Within B2B, investors are increasingly betting on Vertical SaaS. Software tailored to specific industries rather than general-purpose solutions.
Products like Toast (restaurants), Veeva (life sciences), and Procore (construction) exemplify the appeal: deeper integrations, stickier customers, and higher retention rates. For founders, targeting a vertical can help differentiate your company and create defensibility against broad horizontal competitors.
SaaS valuations are no longer at their peak. According to the BVP Nasdaq Emerging Cloud Index, multiples averaged \~7x revenue in 2024, down from 15–20x in 2021. While 2024 saw a modest rebound, investors are prioritizing efficiency over explosive growth. For founders, this is a signal to be realistic in pricing and emphasize metrics like CAC payback, net revenue retention, and unit economics.
AI remains a headline driver for SaaS business investment, but investors are quickly filtering out “AI-wrapped” products that lack defensibility or proven adoption.
Companies that stand out combine proprietary data, a strong retention story, and real business impact. Founders should think carefully before branding their SaaS as “AI-powered” — without proof of concept, traction, or defensibility, funding will be limited.
Capital is no longer concentrated in Silicon Valley. Founders around the world are attracting meaningful investment from global SaaS investors, from Europe to LatAm and APAC. Examples include Mews (hospitality, Europe), AgriDigital (Australia), and Nuvemshop (LatAm e-commerce SaaS). Remote-first models and distributed teams make location less of a barrier, giving founders worldwide access to the same funding opportunities.
Not all SaaS startups are VC-backable. Here’s what top SaaS venture funds actually care about:
1. Annual Recurring Revenue (ARR): If you’re post-revenue, ARR growth rate is your #1 selling point. Investors love to see 100%+ YoY growth, but benchmarks vary by stage.
2. Net Revenue Retention (NRR): The best SaaS companies make more money from existing customers over time. Anything below 100% NRR is a red flag. If you're at 120%+, you're golden.
3. Customer Acquisition Cost (CAC) & Lifetime Value (LTV): If it costs you $3,000 to acquire a customer who only pays you $2,500 over their lifetime, you’re in trouble. SaaS VC firms want to see LTV at least 3x CAC.
4. Burn Rate & Capital Efficiency: SaaS is no longer about "grow at all costs." If you’re burning too much cash without a clear path to profitability, expect hard-hitting questions.
đźš© Biggest Red Flags for SaaS Investors:
Before reaching out to investors, make sure your SaaS metrics are solid. If your numbers don’t hold up, investors won’t either.
SaaS Angel Investors: Individual investors who fund very early-stage startups, often at the pre-seed level, providing capital, mentorship, and connections to help founders validate their idea and build an MVP.
SaaS-Focused VC Funds: Venture capital firms that specialize in SaaS startups, investing across seed to Series A and beyond. They bring expertise in scaling recurring revenue models, optimizing go-to-market strategies, and preparing for larger funding rounds.
SaaS Accelerators & Incubators: Programs like Y Combinator, Techstars, and other SaaS-specific accelerators provide seed round funding, mentorship, and resources to help early-stage companies refine their product, achieve early traction, and prepare for seed or Series A rounds.
Micro-VCs: Smaller early-stage funds focused on SaaS or B2B software companies. They often make concentrated bets and provide hands-on support, making them ideal for first-time founders seeking guidance.
Corporate Venture Arms (CVCs): Large SaaS or tech companies that invest in startups complementary to their product ecosystem. They often bring industry expertise, distribution channels, and potential partnership opportunities.
Private Equity (PE) Firms: Later-stage investors who focus on revenue-generating SaaS companies, helping them scale operations, expand into new markets, or prepare for an exit.
Pre-seed: Idea-stage, often pre-revenue, validating a concept, building an MVP. Seed: Early traction, MVP in market, initial revenue ($0–$1M ARR). Series A: \~$1M+ ARR, predictable sales motion, solid retention. Series B & Beyond: Rapid scaling, proven GTM, strong NRR & CAC efficiency.
Based on the latest data, here are 10 of the most notable SaaS venture capital firms actively investing in 2025:
Sequoia Capital is a leading SaaS venture capital firm based in Silicon Valley, specializing in seed, early, and growth-stage investments across enterprise software and fintech. The firm is highly selective, typically making only a few new early-stage investments per year, which allows it to dedicate significant support to each company. Sequoia emphasizes backing companies with clear market differentiation and long-term scaling potential.
Key Details:
Andreessen Horowitz invests across all stages with a founder-first, platform-based model, providing startups with operational support, expert networks, and talent resources. The firm is particularly active in vertical SaaS, including companies leveraging AI to improve efficiency and scalability. It also runs the a16z START accelerator, offering early-stage companies funding and mentorship to refine product-market fit.
Benchmark Capital operates with a lean team, dedicating significant time and focus to each early-stage investment. This selective approach means partners are deeply involved in strategic decisions, board meetings, and growth planning. Over the years, Benchmark has become known for backing transformative startups that set industry standards.
Union Square Ventures specializes in internet services that leverage network effects, helping companies create platforms that scale efficiently. The firm emphasizes long-term potential and seeks founders who can define new markets rather than compete in existing ones. USV has developed a reputation for supporting transformative companies while maintaining a disciplined investment pace.
Index Ventures invests globally in technology startups with high growth potential, balancing early-stage bets with later-stage opportunities. They prioritize founders with deep market insight and innovative products capable of shaping entire sectors. The firm is known for combining cross-continental perspectives with operational support for portfolio companies.
NEA supports companies across technology and healthcare, investing from seed to late-stage growth. Its global presence allows for expansion guidance and strategic introductions that help startups scale internationally. NEA’s approach emphasizes hands-on involvement while respecting the founder’s vision.
Greylock Partners focuses on early-stage technology companies, pairing capital with strategic mentorship to accelerate growth. They emphasize operational guidance, product strategy, and network-building to help founders navigate competitive markets. Over decades, Greylock has partnered with teams that have gone on to define entire categories.
Accel is a global SaaS venture capital firm that has invested in over 300 companies, including Facebook, Slack, and Dropbox. The firm focuses on early-stage investments, particularly in technology sectors such as SaaS, cloud, and consumer internet. Accel's approach involves partnering with exceptional teams to build category-defining companies.
Bessemer Venture Partners is one of the oldest venture capital firms in the U.S., with a rich history of supporting innovative companies. The firm invests across multiple stages, from seed to growth, and has a diverse portfolio spanning various industries, including SaaS, healthcare, and consumer products. Bessemer's approach emphasizes long-term partnerships and a commitment to helping entrepreneurs build lasting companies.
Tiger Global Management is a New York-based investment firm known for its aggressive investment strategy and deep focus on technology companies. The firm invests across both public and private markets, with a particular emphasis on internet and software companies. Tiger Global's approach combines rigorous research with a willingness to make large, concentrated bets on companies with strong growth potential.
When building your startup pitch deck, take these things into account:
💡 Before pitching, make sure your numbers hold up. Need a solid pitch deck? Download OpenVC’s free SaaS pitch template.
Explore OpenVC’s related investor lists to find VCs and funding sources that align with your SaaS startup’s market and growth stage.
Not all SaaS investors are the same. Some specialize in B2B SaaS, others in vertical SaaS (healthtech, fintech, AI), and some only do PLG models.
Let’s face it, finding the right investor is very difficult in traditional strategies like mass-emailing 100+ VCs. There are more effective approaches that allow you to target the ones who actually invest in startups like yours.
On OpenVC, you can filter SaaS investors by: ✅ Check size – From angel rounds to $50M growth-stage checks. ✅ Industries – Generalist VC vs. SaaS-specific investors. ✅ Investor Type – VCs, PE firms, family offices, angels, and more. ✅ Geography – US-based, EU-focused, global, etc.
🚀 Ready to start raising? Here’s how OpenVC helps SaaS founders like you:
🔥 Join OpenVC today for FREE and start connecting with top SaaS investors instantly.
Save investors, manage outreach, and run your fundraising in one platform.
OpenVC is a free startup fundraising platform that helps founders find the right investors and manage their entire raise. Search 20,000+ verified investors, including venture capitalists, angel investors, family offices, accelerators, and more. Build your target list, send your pitch deck, and track your pipeline all in one place.
Founders raise with OpenVC because it is designed to cut through the noise and get founders in front of the right investors, fast. With built-in tools for CRM, analytics, and warm intros, it helps you stay organized and improve your chances of getting a reply.
OpenVC is for early-stage startup founders who want to raise capital efficiently. Find investors from dozens of industries including SaaS, AI, fintech, biotech, and more. Whether you’re pre-seed, seed, or Series A, OpenVC helps you find and pitch aligned investors without paying intro fees, aimlessly cold-emailing, or scraping databases.
To start pitching investors on OpenVC, create a free account and submit your pitch deck directly through our startup funding platform. Investors receive a unique link to view your deck, and you get analytics on who opens it and how long they spend on it. No cold emails, no guesswork. For more info, check out our complete guide to fundraising on OpenVC.
Absolutely, OpenVC is designed for early-stage fundraising. You’ll find thousands of angel investors, pre-seed VCs, accelerators, incubators, and family offices who are actively backing startups across sectors and geographies. Use OpenVC’s filters to narrow your search and find the right investors for your startup.
Some examples of startups that successfully secured funding through OpenVC include Mobly (2.5M seed), Paxum ($1.2M seed), and Laennec AI ($400k pre-seed). OpenVC startups have gone on to raise more than $1 billion from top venture capital firms like YC, Sequoia, Google Ventures, and M12.
OpenVC was created by Stephane Nasser and Lucas Roquilly—two founders building tools to make startup fundraising more transparent and accessible. We launched OpenVC to help founders find investors, get replies, and raise smarter. The platform is bootstrapped, community-driven, and built with a lot of heart.
Are you a VC firm, angel, or accelerator?
Join OpenVC's database to increase your visibility with startup founders, or update your profile to keep your information current.