SAN FRANCISCO, Sept. 21, 2021 /PRNewswire/ -- KeyBanc
Capital Markets (KBCM), the corporate and investment banking unit
of KeyCorp (NYSE: KEY), today released results from its Technology
Group's 12th annual Private SaaS Company Survey
(formerly known as the Pacific Crest Securities Private SaaS
Company Survey), the benchmarking report by which the
Software-as-a-Service industry (SaaS) measures financial and
operating performance. This year's survey, which includes responses
from senior executives at more than 350 companies, found a
reacceleration of growth as companies recovered from the economic
disruptions caused by COVID-19.
Survey respondent forecasts for 2021 show growth levels
increasing back to a median of 36% for companies with more than
$5 million dollars in annual
recurring revenue (ARR), as the disruptions from COVID-19 become
less severe. Like many industries, the global private SaaS sector
experienced a slowdown in growth during 2020. Median growth slowed
to 28%, notably below the pre-pandemic range of 35-40% which the
survey has historically polled.
"A new component of the KBCM Private SaaS Company Survey
includes data on recent valuations, which can be very difficult to
come by for private companies," says Adam
Noily, Managing Director of Software Investment Banking at
KBCM. "While the survey reveals a median enterprise value of 8.4x
ARR at the time of transaction, there's quite a bit of variation
and a very strong relationship between valuations and top-line
growth."
The KBCM Private SaaS Company Survey establishes operational and
financial benchmarking data for executives and investors in SaaS
companies, from go-to-market selling strategies, churn and net
retention rates and customer acquisition costs, to operational
management, growth and margin structures, as well as data on
valuation and exit expectations. To view the full survey results
and to hear a deeper analysis of the findings, visit us at
www.key.com/saassurvey .
About the KBCM Technology Group Private SaaS Company
Survey
More than 350 senior executives from SaaS companies
around the world participated anonymously and confidentially in the
2021 survey. Responses were submitted online between June and
July 2021. KBCM cannot verify
accuracy of responses. Observations and commentary contained herein
relate solely to the survey results and cannot necessarily be
applied elsewhere. For more information about the KBCM Technology
Group, please visit us online.
About KeyBanc Capital Markets
KeyBanc Capital Markets is a leading corporate and investment bank
providing capital markets and advisory solutions to dynamic
companies capitalizing on opportunities in changing industries. Our
deep industry expertise, broad capabilities and unique ideas are
seamlessly delivered to companies across the Consumer & Retail,
Diversified Industries, Healthcare, Industrial, Oil & Gas, Real
Estate, Utilities, Power & Renewables, and Technology
verticals. With over 800 professionals across a national platform,
KeyBanc Capital Markets has more than $32
billion of capital committed to clients and an award-winning
Equity Research team that provides coverage on over 600
publicly-traded companies. Securities products and services are
offered by KeyBanc Capital Markets Inc. and its licensed securities
representatives, who may also be employees of KeyBank N.A. Banking
products and services, are offered by KeyBank N.A.
About KeyCorp
KeyCorp's roots trace back nearly 200
years to Albany, New York.
Headquartered in Cleveland, Ohio,
Key is one of the nation's largest bank-based financial services
companies, with assets of approximately $181.1 billion at June 30,
2021. Key provides deposit, lending, cash management, and
investment services to individuals and businesses in 15 states
under the name KeyBank National Association through a network of
more than 1,000 branches and approximately 1,300 ATMs. Key also
provides a broad range of sophisticated corporate and investment
banking products, such as merger and acquisition advice, public and
private debt and equity, syndications, and derivatives to middle
market companies in selected industries throughout the United States under the KeyBanc Capital
Markets trade name. For more information, visit
https://www.key.com/. KeyBank is Member FDIC.
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SOURCE KeyCorp