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How SaaStr Fund-Backed RevenueCat Went from a $1.5M Round at $7M Valuation in 2018 to $500M+ Today

SaaStr

When SaaStr Fund made the first investment in RevenueCat back in 2018, nobody could have predicted that this “simple API for managing in-app subscriptions” would become the infrastructure powering 33% of all mobile subscription apps and reach a $500M valuation in 2025. ” required weeks of developer time to answer.

Payments 281
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How Anthropic Rocketed to $4B ARR — And Why Your B2B Playbook May Already Be Obsolete

SaaStr

API-First Revenue Model Unlike the subscription-heavy models of traditional SaaS, 70-75% of Anthropic’s revenue comes from API calls through pay-per-token pricing. Anthropic’s “customers” can go from $0 to $100K+ monthly usage without ever talking to a salesperson.

B2B 248
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M&A Is Back! Melio’s $2.5B Exit to Xero — In Just 7 Years!

SaaStr

In the latest billion+ acquisition, Xero just acquired Israeli-founded, NYC-based Melio for $2.5B The deal shows acquirers are hungry for revenue acceleration—Xero expects to more than double group revenue by 2028 with this acquisition. This B2B2B model generated 35% of revenue while dramatically reducing customer acquisition costs.

Payments 224
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From $10M to $100M ARR in 5.5 Months: Inside Replit’s AI Coding Rocketship

SaaStr

Valuation The Metrics : Fastest to $100M ARR in SaaS history (12 months) The Edge : AI-native IDE that doubles developer productivity The Model : $20-40/month per developer, 360K+ paying users Recent News : Revenue doubling every 2 months, unsolicited acquisition offers GitHub Copilot – $400M ARR The Metrics : 1.8M

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A Look Back at Q1 '25 Public Cloud Software Earnings

Clouded Judgement

Their ongoing revenue can “fund” new logo acquisition and allow the business to operate profitably at paybacks much larger than what private companies (with smaller ARR bases) can afford. To calculate implied ARR I take the subscription revenue in a quarter and multiply it by 4.

Cloud 277
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Usage-Based Revenue Models: Successes and Pitfalls from Checkr COO Lindsey Scrase on CRO Confidential

SaaStr

As Checkr follows usage-based pricing, it’s a transactional business that needs to be managed differently than a typical subscription SaaS model since they only earn revenue when the customer is using the product. The SMB sales team was incentivized purely on logo acquisition rather than revenue.

Revenue 293
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The Rise of Mobile App Monetization: Building a Case for Direct Web Subscriptions

FastSpring

TL;DR: More mobile apps are monetizing by selling subscriptions on their websites to drive user acquisition, keep more revenue, and own their user relationship, especially now that steering iOS users to your site is allowed in the US. What are Web Subscriptions? Why Should Mobile App Companies Offer Web Subscriptions?

Payments 107