After analyzing 750+ B2B VC pitch decks through our new AI analyzer, the patterns are clear: 95% of decks are unfundable not because the businesses are bad, but because founders make the same preventable mistakes. Here’s what the data shows and what actually gets funded.
The Average VC Pitch is a B-
We built an AI that thinks like a VC, and includes all of the learnings from SaaStr data on 4,000+ recent VC rounds, our 800+ VCs sessions and Workshop Wednesdays, and so much more.
The results from our first 750+ analyzed pitch decks and 287.7K data points? Sobering.
Here’s what the real data shows:
95% of pitch decks that land in VC inboxes are unfundable. The grade distribution from our analyzer tells the brutal story:
- A+ grades: Only 9 decks (1.3%)
- A grades: Just 26 decks (3.8%)
- B+ through B-: 161 decks (23.6%)
- C+ and below: 487 decks (71.3%)
That means less than 5% of all pitch decks analyzed earned A-level grades, and nearly three-quarters are fundamentally unfundable — for now.
The Three Critical Scores That Actually Matter
Our AI evaluates every deck across three dimensions that VCs actually care about:
1. Traction Score (0-100)
What it measures: Growth metrics strength, customer validation, and market momentum
What we’re seeing: The average Traction Score across our 700+ decks is disappointingly low. Most founders are hiding their best metrics or burying them in appendices.
The pattern: Winners lead with numbers. The highest-scoring decks put all key metrics on one transparent slide — ARR, growth rate, customer count, churn, everything. No hiding, no “we’ll share that in diligence.”
2. Deck Quality Score (0-100)
What it measures: Story flow, slide effectiveness, and investor-readiness
The brutal truth: Most decks suffer from what I call “cloud intro syndrome” — rambling 5-10 slide intros about “how the cloud is changing everything” instead of getting straight to the point.
What works: The best decks hook investors by slide 3. They start with the problem, immediately show their solution, and prove traction fast.
3. Fundability Score (0-100)
What it measures: Overall investment attractiveness and likelihood of raising capital
The data: Less than 15% of analyzed decks score above 70. The gap between fundable and unfundable isn’t subtle — it’s a chasm.
The Patterns That Predict Success (And Failure)
After analyzing 700+ decks, certain patterns emerge with mathematical precision:
The Fatal Flaws (Why 95% Fail)
The 10-Slide Throat Clearing Problem
- What we see: Founders spend 8-12 slides on market size, trends, and “the opportunity” before showing their actual product
- Why it kills funding: VCs make go/no-go decisions by slide 5. If you haven’t shown traction by then, you’re done
- The fix: Lead with metrics. Show your product. Prove customers want it.
The Metrics Hide-and-Seek Game
- The pattern: Critical numbers buried on slide 47 or missing entirely
- Reality check: If you’re afraid to show your metrics upfront, your metrics aren’t good enough to raise
- What winners do: Everything on one slide — ARR, growth rate, customers, churn, CAC, LTV. Full transparency.
The “We’ll Talk About Competition Later” Trap
- The mistake: Pretending competition doesn’t exist or dismissing it as “different”
- Why it backfires: VCs know your space better than you think. Claiming “no competition” signals naivety
- The solution: Acknowledge competition honestly, show differentiation clearly
The Success Patterns (The 5% That Get Funded)
Metric Transparency From Slide 1 The highest-scoring decks follow what we call “radical transparency.” They put every meaningful metric on one comprehensive slide:
- Current ARR and growth trajectory
- Customer acquisition metrics
- Retention and churn data
- Unit economics (CAC, LTV, payback period)
- Pipeline and forecasts
The 12-18 Month Precision Test Fundable decks show precise understanding of the next 12-18 months:
- Exact hiring plan with names and roles
- Specific ARR targets with month-by-month breakdown
- Product roadmap tied to customer demands
- Clear milestone progression
The $200M ARR Path This separates seed-stage companies from real venture opportunities. The best decks explain, with bottom-up data, exactly how they’ll reach $200M+ ARR. Not TAM hand-waving — actual customer expansion math.
The Funding Stage Reality Check: The Data Gets Worse as Stakes Get Higher
Here’s where the data gets really interesting. Our analysis breaks down performance by funding stage, and the patterns are striking:
Seed Stage: The Wild West
- Total decks analyzed: 594
- Median valuation: $9.2M – $11.5M
- Typical funding range: $4.2M – $32.8M
- Average growth rate: 121.0%
- Median ARR: $500K
The Seed Reality: Traditional SaaS companies at seed show 60% median growth, while AI-Enhanced companies are hitting 85%, and AI-Native startups are crushing it at 100%. If you’re building traditional SaaS without AI, you’re starting from a massive disadvantage.
Series A: Where Dreams Go to Die
- Total A-Grade decks: 86 companies
- The bar: Exceptional execution required
Series B: The Elite Club
- Total decks analyzed: 248
- Median valuation: $126.9M – $158.6M
- Typical funding range: $870M – $254.6M
- Average growth rate: 118.6%
- Median ARR: $8.5M
The Series B Truth: AI-Enhanced companies are maintaining 65% growth rates while traditional SaaS drops to 40%. AI-Native companies? Still hitting 100%+.
Series C: The Unicorn Pipeline
- Median valuation: $375.2 – $469M
- Typical range: $273.7 – $940.68M
- Average growth rate: 112.6%
- Median ARR: $45.5M
The Million-Dollar Pattern: Traditional SaaS companies at Series C are growing at 60%, AI-Enhanced at 65%, but AI-Native companies are still maintaining 100%+ growth. This isn’t a coincidence — it’s the new reality of venture capital.
What VCs Actually Want to See (The Insider View)
After analyzing patterns from 4,000+ funding rounds and 222+ successful pitch decks, here’s what actually gets funded:
Slide 1: Hook Them Immediately
- Company name + one killer stat
- Example: “The #1 AI Platform for Customer Success — 300% ARR growth, 47 enterprise customers”
Slides 2-3: Problem + Solution (No Fluff)
- Specific, data-driven pain point
- Your solution in one clear sentence
- Visual proof it works
Slide 4: Traction (The Make-or-Break Moment)
This is where 80% of funding decisions happen. Show:
- Revenue numbers and growth trajectory
- Customer logos and expansion metrics
- Usage data that proves product-market fit
Slide 5: Market Timing
Why now? What’s changed that makes this the perfect moment for your solution?
Slides 6-8: Business Model + Go-to-Market
- Clear pricing and unit economics
- Proven customer acquisition channels
- Sales process that scales
Slide 9: Competition (The Honesty Test)
- Acknowledge real competitors
- Show clear differentiation
- Prove you understand the landscape
Slide 10: Team (Why You’ll Win)
- Relevant experience for this specific challenge
- Key hires made or planned
- Domain expertise that matters
The Hard Truths Our Data Reveals
Truth #1: Most founders think their deck is better than it is
- Average self-assessment: 7.8/10
- Average AI score: 4.1/10
- Only 5.1% of all analyzed decks earned A-level grades
Truth #2: The funding stage pyramid is brutal
- Seed: 583 decks analyzed — the largest pool where most dreams start
- Series A: 86 decks — already an 85% elimination rate
- Series B: 248 decks — but only the exceptional survive
- Series C: Advanced analytics available — the unicorn pipeline
Truth #3: AI categorization predicts success From our 287.7K data points, the growth rate differences are stark:
- Traditional SaaS: 60% median growth (struggling to get funded)
- AI-Enhanced: 85% median growth (getting attention)
- AI-Native: 100%+ median growth (getting term sheets)
Truth #4: The competition slide reveals more than you think How you handle competition signals market understanding, strategic thinking, and coachability. With 700+ decks analyzed, the pattern is clear: honest competitive analysis correlates with higher grades.
Truth #5: Valuation expectations vs. reality Our data shows massive gaps between founder expectations and market reality:
- Seed median: $9.2M-$11.5M (founders often expect $15M+)
- Series B median: $126.9M-$158.6M (founders often expect $200M+)
- Series C median: $375.2M-$469M (the unicorn threshold)
The Tool That Changes Everything
Here’s why we built this: bad pitch decks waste everyone’s time. VCs spend countless hours on decks that never should have been sent. Founders waste months in fundraising cycles doomed from slide one.
Our AI solves the efficiency problem on both sides:
For Founders:
- Get instant, brutally honest feedback based on what VCs actually think
- Fix obvious problems before hitting send
- Understand exactly where your deck ranks against fundable companies
For VCs:
- Focus time on genuinely promising opportunities
- Reduce analyst hours spent on obviously broken pitches
- See more companies that actually meet investment criteria
How to Use This Data to Fix Your Deck
Based on 700+ analyzed decks, here’s your action plan:
Step 1: The Honesty Audit
Upload your real deck — not a “perfect” version. Use your actual working presentation. This might be the biggest win of all.
Step 2: Face the Scores
If you’re getting B- grades (or lower), you’re not ready to fundraise yet. Just don’t send that deck to VCs. Don’t waste your shot.
Step 3: Fix Priority Improvements First
The AI ranks issues by impact. Tackle high-impact changes before minor tweaks.
Step 4: Iterate Until You’re Consistently B+ or Better
Re-run analysis after each major revision. Aim for consistent B+ scores before scheduling VC meetings. Our VC Deck Analyzer is free and powerful. Take advantage of that to use it as many times as you need it.
The Fundraising Reality Check
The funding environment is brutal for all but the hottest. Series A rounds are down 81% from peak levels. Every conversation matters. You cannot afford to walk into VC meetings with a broken deck.
But while 95% of decks are unfundable, that means being in the top 5% isn’t that hard if you know what you’re doing — and you have the numbers to back it up.
The startups that understand this — that fix their decks based on data rather than gut feel — are the ones getting term sheets while everyone else gets ghosted.
What This Means for the Future of Fundraising
We’re seeing a fundamental shift in how fundraising works, backed by 750+ analyzed decks and 287.7K start-up valuations:
- The AI Divide Is Real and Growing The data doesn’t lie: AI-Native companies maintain 100%+ growth rates across all funding stages while traditional SaaS companies drop to 60% by Series B. This isn’t a temporary trend — it’s a permanent shift in what VCs expect.
- Pattern Recognition at Scale With 565 pitch deck evaluations and growing, AI can now identify the subtle patterns that separate fundable from unfundable faster than any human. The best founders will use this to their advantage.
- The Death of “Spray and Pray” Mass-sending mediocre decks to 100 VCs is dead. When 71.3% of all decks score C+ or below, the future belongs to founders who send great decks to the right 10 VCs.
- Metrics Transparency Becomes Table Stakes With 18.0% AI accuracy in prediction models, hiding key metrics will become impossible as AI tools make pattern recognition trivial. Radical transparency becomes the only viable strategy.
We’ll Can Help You Increase The Odds
After analyzing 750+ pitch decks with 287.7K data points, the data is clear: many fundraising failures aren’t about “bad” businesses — they’re about bad presentations, and misunderstanding how strong their traction and positioning are.
The math is brutal but simple:
- Only 1.3% earn A+ grades
- Only 3.8% earn A grades
- 71.3% score C+ or below
But here’s the opportunity: AI-Native companies are maintaining 100%+ growth rates across all stages while traditional SaaS drops to 60%. The companies that understand this shift — that build AI into their core product and fix their decks based on what actually works rather than what feels good — are the ones closing rounds while competitors struggle.
The Data-Driven Advantage With 290,000+ valuations and 1,000+ evaluations completed and climbing, founders now have access to the same pattern recognition that VCs use internally. The question isn’t whether you should use this data — it’s whether you’ll be part of the 5.1% that earn A-level grades or the 71.3% that stay unfundable.
Ready to find out if your pitch deck is actually investor-ready?
Try the SaaStr.ai VC Pitch Deck Analyzer at saastr.ai/pitch-deck-analyzer
Upload your deck. Get your scores. Start fixing the problems that are killing your fundraising efforts.
Because in fundraising, you don’t get points for effort. You get points for results.
Want more insights like this? The SaaStr AI Pitch Deck Analyzer is trained on 4,000+ funding rounds and delivers the brutally honest feedback VCs think but rarely share. Try it free and see where your deck really stands.
