Q3 2024
November 13, 2024
AI assists infrastructure SaaS
Generative AI is still pushing infrastructure SaaS forward. While growth slowed in Q3 with deal value down to $3.8 billion from Q2's $4 billion, the AI-driven rebound has pushed YoY deal value up 130.8%. The largest deals were for AI companies: Glean's $260 million Series E and Magic's $320.8 million Series C.
PitchBook’s latest Emerging Tech Research spotlights the segments AI is energizing, such as AI-assisted software development startups—companies using tools like coding assistants to fast-track specific processes. The report examines the growing segment, profiling companies like Codeium that are poised to capitalize on the growing AI excitement.