River Cities SaaS Operating Metrics & Valuation Benchmarking Study
River Cities first encountered the SaaS model with its EVault investment in 2001. The concept of delivering software as a hosted, subscription service introduced new possibilities for entrepreneurs, customers and investors. The first wave of SaaS was typified by horizontal solutions and applications. River Cities benefited from recognizing the value of this model early and gained a competitive advantage by developing a track record of success and thought leadership at the onset. We have invested roughly $100M across 16 SaaS portfolio companies and have had six successful liquidity events, including two IPOs. Today, the Firm is focused on what we consider to be the second wave of the SaaS and tech-enabled business services model, which is characterized by vertical solutionsfor niche markets with a services approach.
As a firm, River Cities invests in world-class management teams − backing progressive, proven leaders in the markets of information technology and healthcare. A consistent, cohesive team has honed its strategy over six funds with compelling performance. River Cities seeks to be a business partner first and a capital provider second, investing significant human capital to leverage its domain expertise and a network of thought leaders assembled over the last 23 years. With more than $600M of capital raised and a consistent track record of success, River Cities has established itself as a preferred source of growth capital. We are actively seeking new investments in the $5 million – $30 million range, River Cities offers entrepreneurs the flexibility to raise an appropriate amount of growth capital for the company’s respective stage of development.