21 SaaS IPOs (2017 2H – 2019)

	B	C	D	E	F	G	H	I	O
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2	SaaS Capital Efficiency
3	See individual tabs for revenue ramp vs capital ramp visualizations
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5		D3	D4		D5			D6
6	Company	ARR @ IPO ($M)	Cum. Capital Raised @ IPO ($M)	Capital Raised / ARR	Cum. Cash Burned @ IPO ($M)	Cash Burned / ARR	Cash @ IPO	Rule of 40	Years to IPO
7	Domo	$128	$690	5.40x	$618	4.83x	0.56x	-98%	8.0
8	MongoDB	$142	$311	2.18x	$219	1.53x	0.65x	-3%	10.0
9	Tenable	$236	$310	1.31x	$283	1.20x	0.11x	29%	15.9
10	Dropbox	$1,222	$1,707	1.40x	$1,277	1.05x	0.35x	36%	10.8
11	Slack	$539	$1,390	2.58x	$549	1.02x	1.56x	52%	10.5
12	Zuora	$199	$248	1.24x	$199	1.00x	0.24x	26%	10.8
13	Sprout Social	$106	$112	1.06x	$99	0.94x	0.12x	16%	9.5
14	Crowdstrike	$313	$481	1.54x	$289	0.92x	0.61x	119%	8.0
15	Anaplan	$231	$300	1.30x	$213	0.92x	0.38x	18%	12.3
16	Bill.com	$141	$280	1.99x	$122	0.87x	1.12x	56%	13.4
17	Cloudflare	$270	$332	1.23x	$207	0.77x	0.46x	13%	10.3
18	Medallia	$287	$325	1.13x	$192	0.67x	0.46x	15%	17.8
19	Qualtrics	$421	$400	0.95x	$262	0.62x	0.33x	44%	16.4
20	Zscaler	$146	$148	1.01x	$77	0.53x	0.48x	33%	9.7
21	Smartsheet	$132	$113	0.86x	$55	0.42x	0.44x	39%	12.9
22	Docusign	$668	$536	0.80x	$279	0.42x	0.38x	35%	14.8
23	Sendgrid	$108	$80	0.74x	$43	0.40x	0.35x	41%	8.4
24	PagerDuty	$135	$174	1.28x	$46	0.34x	0.94x	28%	10.2
25	Elastic	$322	$162	0.50x	$109	0.34x	0.17x	55%	6.7
26	Datadog	$333	$148	0.44x	$96	0.29x	0.16x	76%	9.2
27	Zoom	$423	$161	0.38x	-$15	-0.04x	0.42x	123%	7.9
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29	Median			1.23x		0.77x	0.42x	35%	10.3
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