SaaS companies have been an increasingly popular choice for investors over the past few years, with VCs pouring billions into the industry. Recent IPO filings from SaaS startups like Cloudera, Okta and MuleSoft suggest that backing companies using the model is a good bet.
Since the beginning of 2016, 4,513 investors have backed a SaaS company, according to the PitchBook Platform, with deals totaling nearly $30.4 billion. The plurality of that capital (36.8%) has gone to Series B rounds, followed by 21.7% and 14.6% for Series C and Series A financings, respectively. About a third of the 10 busiest investors are corporate VC arms of larger companies.
And who are those firms? Here are the 10 most active VC investors in the SaaS industry since the beginning of 2016, along with their deal counts (not including accelerator rounds):