So most of you can probably infer from funding posts and press releases just how much B2B funding is going into GenAI startups.

But exactly how much?

Sapphire Ventures has the latest data. In 2023:

  • GenAI funding was up a stunning +271% (!)
  • But overall, B2B VC funding was down -36%

2024 seems to be pretty much the same.  Top SaaS VCs are investing 80%+ in AI-first startups:

This is where the VC frenzy is right now.  With public SaaS multiples frozen around 6x, there just isn’t a ton of later-stage excitement outside of AI.

The full Sapphire report here:

The State of the SaaS Capital Markets: A Look Back at 2023 and Look Forward to 2024


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