# SaaS Capital: Alternative growth financing for SaaS

> SaaS Capital offers debt\-based growth financing as alternative, non\-dilutive capital for SaaS Companies versus venture debt, venture capital, and term loans\.

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## Pages
- [The SaaS Capital Index](https://www.saas-capital.com/the-saas-capital-index/)
- [Working with SaaS Capital](https://www.saas-capital.com/our-approach/)
- [Join the SaaS Capital Network](https://www.saas-capital.com/join-the-saas-capital-network/)
- [Home](https://www.saas-capital.com/)
- [Guides](https://www.saas-capital.com/guides/)

## Blog Posts
- [Trust is the True Moat: What AI is Actually Changing for SaaS](https://www.saas-capital.com/blog-posts/trust-is-the-true-moat-what-ai-is-actually-changing-for-saas/): We don’t agree with the simplistic formulation of “AI is eating SaaS,” and we’ve consistently written about that\. SaaS companies get paid to solve business problems, and SaaS companies – or at least the healthiest and most adaptable among them – will incorporate AI into their solutions and continue to get paid to solve business problems\.
- [2026 Spending Benchmarks for Private B2B SaaS Companies](https://www.saas-capital.com/blog-posts/spending-benchmarks-for-private-b2b-saas-companies/): How much do SaaS companies spend on customer support or marketing? In day\-to\-day SaaS company operations, questions like the above are common\. So, we asked survey takers what percentage of revenue is spent on cost of goods sold, customer support/success, selling costs, marketing costs, research \& development, and general and administrative\. This post summarizes the benchmarking data\. 
- [2026 Benchmarking Metrics for Bootstrapped SaaS Companies](https://www.saas-capital.com/blog-posts/benchmarking-metrics-for-bootstrapped-saas-companies/): SaaS Capital works with both VC\-backed and bootstrapped SaaS companies and has seen the advantages of both approaches\. However, one situation that is especially interesting is bootstrapped SaaS companies with $3M to $20M in Annualized Run Rate Revenue \(ARR\)\. Growing from a pre\-revenue startup to $3M \(scale\-up phase\) marks a significant shift and bootstrapping from $3M to $20M creates enormous value for owners\. To help support bootstrappers during their scale\-up, we wanted to focus on 2026benchmarking metrics for scale\-up stage bootstrapped SaaS companies\.
- [Four early 2026 SaaS trends](https://www.saas-capital.com/blog-posts/four-early-2026-saas-trends/): SaaS valuations hit decade\-plus lows in Q1 as markets priced in AI as an existential threat\. But the picture is more nuanced than the headline numbers suggest\. Here are four metrics that cut through the noise\.
- [An Evolution in SaaS: The Median Company has a Positive Operating Margin](https://www.saas-capital.com/blog-posts/an-evolution-in-saas-the-median-company-has-a-positive-operating-margin/): For the first time in over a decade, the median publicly traded SaaS company is generating a positive operating margin\. This post examines the trend, its relationship to interest rates, and what it means for evaluating which companies are best positioned to navigate an uncertain environment\.

## Research
- [What's Your SaaS Company Worth?](https://www.saas-capital.com/research/whats-your-saas-company-worth/): Private B2B SaaS companies are typically valued using a multiple of annualized recurring revenue \(ARR\), but determining the correct multiple to apply is difficult\. Updated for 2026, we provide a data\-driven, statistically backed methodology specifically designed for private B2B SaaS companies\. A full formula, as well as an Excel spreadsheet and summary table, are provided for your convenience\.
- [2025 Private B2B SaaS Company Growth Rate Benchmarks](https://www.saas-capital.com/research/private-saas-company-growth-rate-benchmarks/): The median growth rate for all companies in the survey registered 25%\. This is down from a population median of 30% in 2023 and puts growth closer to the pandemic levels seen in 2020\. Overall, 6\.9% of the companies reported flat or negative growth in 2024, which is up from 5\.3% last year but still well below the peak of 13% reported in 2020\.
- [2021 Private SaaS Company Growth Rate Benchmarks](https://www.saas-capital.com/research/2022-private-saas-company-growth-rate-benchmarks/): It’s not difficult to benchmark your SaaS company’s performance against that of public SaaS companies, but it’s also only slightly useful\. The sheer scale of public companies makes for an apples\-to\-oranges comparison to smaller, private companies that do not reveal actionable performance insights\. This Research Brief provides growth rate data from our survey of more than 1,500 private, B2B, SaaS companies\.
- [Comparison Guide of Debt Options for SaaS Companies](https://www.saas-capital.com/research/comparison-guide-of-debt-options-for-saas-companies/): Using debt to fund a SaaS company is widely accepted and there is now a vibrant market of lenders\. However, each lender has their own specific criteria, use cases, and non\-trivial nuances in structure which makes it difficult to know which one is best for your company\. 
- [2020 SaaS Retention Benchmarks for B2B Companies](https://www.saas-capital.com/research/2022-saas-retention-benchmarks-for-private-b2b-companies/): Because of its compounding effect on growth, revenue retention is now well established as the most important metric for ensuring medium\- to long\-term business health\. This research brief provides current retention benchmarks based on data from SaaS Capital's 9th annual survey of 1,400 private B2B SaaS companies\.

## Case Studies
- [$400K in interest expense finances a $10 million increase in net equity value](https://www.saas-capital.com/case-study/caw/): “Working with SaaS Capital we were able to very quickly put together a credit facility that leveraged our existing market success and strong customer relationships to further optimize our business\.The fact that the facility grew along with the business ensured the long\-term flexibility that we needed\.”
- [SaaS Capital funding supports growth and strategic acquisition, while creating $28\.8 million in net equity value](https://www.saas-capital.com/case-study/create-28million-value/): "SaaS Capital’s approach was truly unique\. It allows us access to the greatest amount of capital with a line\-of\-credit that provides us flexibility on when we borrow and when we re\-pay\.”
- [Reeher leverages SaaS Capital funding to drive growth, increase net equity by $20\.3 million, and position for acquisition](https://www.saas-capital.com/case-study/reeher/): “The SaaS Capital team just gets the SaaS model\. Bank financing wasn’t really an option at the time we were looking for funding and when I met the SaaS Capital team it was my sense that because they had figured out this financing model early, they offered a great partnership and helpful expertise\.”
- [ClearCompany calls SaaS Capital the "just right" partner to grow their SaaS business](https://www.saas-capital.com/case-study/clearcompany/): “No thoughtful SaaS entrepreneur who has worked so hard to create wealth would take venture capital once they are past 3 million in ARR\. They would be crazy not to grow their business on debt until they couldn't do it anymore\. It just doesn't make financial sense to do it otherwise\.”

## News and Events
- [SaaS Capital Portfolio Company, Instaleap, Acquired by Instacart](https://www.saas-capital.com/news-events/saas-capital-portfolio-company-instaleap-acquired-by-instacart/): CINCINNATI, SEATTLE, June 24, 2026 – SaaS Capital, the leading provider of growth debt to software\-as\-a\-service \(SaaS\) and subscription AI application companies, congratulates portfolio company Instaleap on its acquisition by Instacart\.
- [SaaS Capital Portfolio Company, Move This World, Acquired by Riverside Insights](https://www.saas-capital.com/news-events/saas-capital-portfolio-company-move-this-world-acquired-by-riverside-insights/): CINCINNATI, SEATTLE, March 24, 2026 – SaaS Capital, the leading provider of growth debt to software\-as\-a\-service \(SaaS\) and subscription AI application companies, congratulates portfolio company Move This World on its acquisition by Riverside Insights\.
- [SaaS Capital Raises $100 Million Fifth Fund to Support B2B SaaS and Subscription AI Application Companies](https://www.saas-capital.com/news-events/saas-capital-raises-100-million-fifth-fund-to-support-b2b-saas-and-subscription-ai-application-companies/): CINCINNATI, OH and SEATTLE, WA \(October 16, 2025\) \- SaaS Capital, the leading provider of growth debt for recurring\-revenue software businesses, today announced the closing of SaaS Capital Fund V, LP, totaling $100 million\. The new fund enables SaaS Capital to expand its support for “Subscription AI and Software” \(SaaS\) businesses with non\-dilutive, flexible capital\.
- [Two SaaS Capital Portfolio Companies Acquired](https://www.saas-capital.com/news-events/two-saas-capital-portfolio-companies-acquired/): CINCINNATI, SEATTLE, September 10, 2025 – SaaS Capital, the leading provider of growth debt to software\-as\-a\-service \(SaaS\) and subscription AI application companies, congratulates portfolio companies TitanHQ and eVideon on their recent acquisitions\.
- [SaaS Capital Provides Growth Funding to Care Solace, Cinematic Health, and Agent IQ](https://www.saas-capital.com/news-events/saas-capital-provides-growth-funding-to-care-solace-cinematic-health-and-agent-iq/): CINCINNATI, SEATTLE, April 24, 2025 – SaaS Capital, the leading provider of growth debt to software\-as\-a\-service \(SaaS\) companies, welcomes Care Solace, Cinematic Health, and Agent IQ to its portfolio\.

## Categories
- [SaaS Fundamentals](https://www.saas-capital.com/category/saas-fundamentals/)
- [Benchmarking Data](https://www.saas-capital.com/category/benchmarking-data/)
- [SaaS Funding](https://www.saas-capital.com/category/saas-funding/)
- [SaaS Events](https://www.saas-capital.com/category/saas-events/)
- [SaaS Valuations](https://www.saas-capital.com/category/saas-valuations/)

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