SaaS Napkin Evolution 2016-2022 - Matthew O'Riordan

	A	B	C	D	E	F	G	H
1	SaaS Napkin Evolution from 2016 - 2022
2	Created by Matthew O'Riordan, Founder & CEO at Ably Realtime, the global leader in serverless websockets.
3	Referenced from blog post "A look at what it has taken to raise capital, in SaaS, from 2016 to 2022"
4	SaaS Napkins created each year by Christoph Janz, Founding Partner at Point 9 Capital.
5
6	ARR (in millions)
7			2016	2017	2018	2019	2021	2022
8	Pre-seed	min
9	Pre-seed	max
10	Seed	min	0	0	0.1	0	0	0
11	Seed	max	0.6	0.6	0.1	0.2	0.6	1
12	Series A	min	1.2	1.2	1	1	0.5	0.5
13	Series A	max	3	3	1.5	1.5	4	2.5
14	Series B	min	4.2	4.8	5	3	3.5	3
15	Series B	max	9.6	14.4	5	5	12	5
16	Series C	min	12	12			5
17	Series C	max					50
18
19
20	Round size amount (in millions)
21			2016	2017	2018	2019	2021	2022
22	Pre-seed	min	0.2	0.2			0.3	1
23	Pre-seed	max	0.5	0.5			1	2
24	Seed	min	0.5	0.5	1	1	2	1
25	Seed	max	2.5	2.5	2	4	5	4
26	Series A	min	3	5	5	5	5	6
27	Series A	max	12	12	10	14	12	18
28	Series B	min	10	10	10	15	18	10
29	Series B	max	25	40	30	40	50	40
30	Series C	min	20	20			35
31	Series C	max					120
32
33	Valuation (in millions)
34			2016	2017	2018	2019	2021	2022
35	Pre-seed	min	1	1			2.5	3
36	Pre-seed	max	3	3			4.5	12
37	Seed	min	2	2	5	4	8	5
38	Seed	max	6	6	7	11	12	15
39	Series A	min	10	10	15	15	18	25
40	Series A	max	40	40	25	40	50	75
41	Series B	min	30	30	40	50	65	60
42	Series B	max	100	200	100	140	270	180
43	Series C	min	80	80			100
44	Series C	max					900
45
46	Growth y/y
47			2016	2017	2018	2019	2021	2022
48	Series A		3.0x	3.0x	3.0x	3.0x	3.0x	2.5x
49	Series B		2.5x	2.5x	2.5x	2.5x	2.5x	2.5x
50	Series C		2.0x	2.0x				2.3x
51
52	Capital efficiency
53			2016	2017	2018	2019	2021	2022
54	Series A							3.5x
55	Series B							2.0x
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68	Source data
69
70	- 2022 Napkin
71	- 2021 Napkin data from podcast
72	- 2019 Napkin
73	- 2018 Napkin
74	- 2017 Napkin
75	- 2016 Napkin (original)
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