Clouded Judgement

SEPTEMBER 15, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Subscribe now Software Setup Currently, interest rates seem to be the primary driver of software valuations. So until we get that data, we’ll see short term moves more tied to rates. Follow along to stay up to date!

Software Review 130

Software Review Cloud Software AWS 130

SaaStr

MAY 6, 2024

So long time friend of SaaStr Tomasz Tunguz, now heading his own VC fund Theory Ventures, has again summarized a lot of data into a few great charts. My biggest take-away: there are barely more than 50 acquisitions of $50,000,000 or more, at least disclosed one, in software of U.S.-based This time, on Mergers & Acquisitions.

Acquisition 217

Acquisition Software Review Software Cloud 217

Tom Tunguz

APRIL 1, 2024

Rubrik, a Palo Alto-based data security company, filed their S-1 yesterday. At $784m in ARR, growing 47% with 130% net revenue retention across 6100 customers, the company should be one of top 10 fastest growing software companies alongside Klaviyo, ZScaler, & Crowdstrike - in ARR terms. But overall revenue is growing 4.5%

Data 194

Data Subscription Payment Features Cloud 194

Clouded Judgement

JANUARY 12, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. I pulled some data from Pitchbook that you can see below (screen was for US based companies that they categorize as “software”). Subscribe now Share Clouded Judgement Leave a comment Follow along to stay up to date!

Cloud 284

Cloud Venture Capital Acquisition Metrics 284

Clouded Judgement

JULY 21, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Subscribe now Are Software Companies Bad Businesses? There was some talk last week on the All-In podcast about software companies. Does the data support it? Follow along to stay up to date! ” Quite the claim! .”

Cloud 130

Cloud Software Sales Hiring Scale 130

Tom Tunguz

NOVEMBER 14, 2022

My laptop is faster than your cloud. For the last ten years, the data ecosystem has focused on big data - the bigger the data set, the more exciting. Instead of requiring a scale-out database in the sky, most analyses are faster with an optimized database on your computer that can leverage the cloud when needed.

Cloud 339

Cloud AWS Data Analysis Benchmarks 339

Tom Tunguz

FEBRUARY 2, 2023

I’m watching public company earnings to identify early weaknesses in the software market. Google: [We] are pushing Google Cloud to Profitability. One surprising nuance from the Google call: Revenue growth in GCP was again greater than Google Cloud, reflecting strength in both infrastructure and platform services.

GCP(Google Cloud Platform) 289

GCP(Google Cloud Platform) Cloud AWS Sales Hiring 289

Clouded Judgement

OCTOBER 27, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. I believe one of the bigger reasons software has held up despite the run up in the 10Y to 5% is the expectation for re-acceleration (ie numbers / forecasts going up). Quite different then the expectation for acceleration in software in 2024.

Cost optimization & reporting 152

Cost optimization & reporting Cloud Azure AWS 152

Clouded Judgement

SEPTEMBER 12, 2023

Q2 earnings season for cloud businesses is now behind us. In this post, I’ll take a data-driven approach in evaluating the overall group’s performance, and highlight individual standouts along the way. ” Source: company filings Let’s get into some high level data.

Cloud 169

Cloud Software Benchmarks Retention 169

Clouded Judgement

JUNE 20, 2023

Q1 earnings season for cloud businesses is now behind us. In this post, I’ll take a data-driven approach in evaluating the overall group’s performance, and highlight individual standouts along the way. The question on everyone’s mind - when will we see software re-accelerate? How do we make sense of it all?

Cloud 161

Cloud Software Benchmarks Scale 161

Clouded Judgement

DECEMBER 1, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. General purpose GenAI tools dominate the market today, but the tooling layer is starting to emerge to allow enterprises to fine tune models to their specific data. A strong data foundation is critical for an effective AI strategy!

AWS 293

AWS Cloud AI Search Cost optimization & reporting 293

Clouded Judgement

FEBRUARY 23, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. And as we know, this fluctuates Bessemer and Meritech both looked at historical data (images below) to see what that multiplier has been in the past. Meritech analysis Bessemer analysis So what if we look at the data today?

Cloud 152

Cloud Metrics Subscription Payment Features 152

Clouded Judgement

APRIL 12, 2023

Q4 earnings season for cloud businesses is now behind us. In this post, I’ll take a data-driven approach in evaluating the overall group’s performance, and highlight individual standouts along the way. Less than half of the software universe is guiding above consensus, and the median guide has gone from ~2.5%

Cloud 161

Cloud Software Benchmarks Retention 161

Clouded Judgement

MARCH 10, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Growth Deceleration of Consumption Companies So far, 2023 guides have not been pretty for consumption software companies. Subscribe now Share Clouded Judgement Leave a comment Follow along to stay up to date!

Cloud 244

Cloud Trends Subscription Payment Features 244

Clouded Judgement

FEBRUARY 9, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. After a few software companies have reported we can start to look at the data behind “are numbers going up.” The chart below shows the data for the companies to report so far (those who give full year guidance).

Cloud 195

Cloud Pricing Startup Revenue 195

Clouded Judgement

FEBRUARY 10, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. ” Were 2023 Software Estimates Already De-Risked To Start The Year? Another topic I’ve discussed at length here is the question of “are forward estimates too high” for software companies. Hard Landing?

Cloud 268

Cloud Software Review Technical Review Systems Review 268

Clouded Judgement

APRIL 14, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. CPI / Fed Update March CPI data came in this week. Net New ARR Slowdown It’s no secret that cloud software businesses have seen headwinds over the last couple quarters. Follow along to stay up to date! Their takeaway?

Cloud 169

Cloud Subscription Payment Features Trends 169

Clouded Judgement

OCTOBER 20, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. In general economic data has continued to come in strong (a data point suggesting inflation could stay sticky, and the economy can absorb rates staying higher for longer). Subscribe now Share Clouded Judgement Leave a comment

Cloud 161

Cloud Azure AWS Software Review 161

Clouded Judgement

AUGUST 18, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. I wanted to do a quick review of results so far to see what the data is showing us. I wanted to do a quick review of results so far to see what the data is showing us. Before some Q2 data, some quick market analysis.

Cloud 243

Cloud Software Review Subscription Payment Features 243

Tom Tunguz

OCTOBER 27, 2022

I’m watching public company earnings to identify early weaknesses in the software market. Google Cloud Platform. The data suggests a broader slowdown in software spending as these companies are indices of software buyers’ behavior. Public software multiples - 4.9x Microsoft Azure.

Cloud 228

Cloud GCP(Google Cloud Platform) Azure AWS 228

Clouded Judgement

DECEMBER 20, 2022

Q3 earnings season for cloud businesses is now behind us. In this post, I’ll take a data-driven approach in evaluating the overall group’s performance, and highlight individual standouts along the way. As you can see from the data below most cloud businesses beat the consensus estimates for Q3.

Cloud 130

Cloud Software Review Software Benchmarks 130

Clouded Judgement

DECEMBER 15, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Here’s a quick recap on some of the data CPI: Nov CPI YoY was +3.1% Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against.

Cloud 183

Cloud Subscription Payment Features Metrics 183

Tom Tunguz

FEBRUARY 13, 2023

I’m watching public company earnings to identify early trends in the software market to inform startups’ plans for 2023. The surge in pipeline is notable given the uncertainty in the market but the close rates are low & sales cycles slow : another confirmatory data point for startups to plan cautiously in 2023.

Cloud 231

Cloud Azure Headcount Software Review 231

Clouded Judgement

FEBRUARY 16, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. Subscribe now January Green Shoots A couple key software players have given us commentary in their Q4 earnings report (quarter ending December) that January (the first month of Q1) saw some green-shoots. Follow along to stay up to date!

Cloud 161

Cloud AWS Metrics Subscription 161

Clouded Judgement

SEPTEMBER 29, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. What’s been most surprising to me is how resilient software valuations have been in the face of pretty massive moves in rates. Given those two data points alone I’d expect the median multiple today to be closer to 4x!

Cloud 183

Cloud Government Banking Software Review 183

Clouded Judgement

FEBRUARY 24, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. This week Walmart and Home Depot reported earnings (I know, not the usual cloud software suspects!). All of this data gave those arguing for the soft-landing more ammo. Follow along to stay up to date!

Cloud 130

Cloud Subscription Payment Features Revenue 130

Clouded Judgement

APRIL 21, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Morgan Stanley released a report yesterday suggesting “cloud optimizations [were] an intensifying headwind in Q1.” This may be a data point to suggest we’re hitting the trough (or close to it).

Cloud 130

Cloud Azure AWS GCP(Google Cloud Platform) 130

Clouded Judgement

APRIL 28, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. AWS (Amazon), Azure (Microsoft), and Google Cloud (Google) all reported this week. Everyone is hoping to find a glimmer of data to suggest that the headwinds are abating and easing. Follow along to stay up to date! They grew 16%!!

Cloud 130

Cloud Azure AWS AI Search 130

SaaStr

JANUARY 30, 2023

I know things can be tough out there but Gartner last week still predicted enterprise software would grow 9.3% But — the cuts aren’t really coming in enterprise software budgets. Gartner is predicting enterprise software spend will grow a stunning 9.3% No data says that. But Software? in 2023 to $4.5

Software 284

Software Enterprise Cloud Trends 284

Tom Tunguz

SEPTEMBER 26, 2022

2020 is the decade of data. Look no further than the massive companies pushing the public & the private market forward: Snowflake, Databricks, Amazon, Azure, Google Cloud. It’s quite possible that data products have created more market cap than any other subsegment of SaaS in the last five years.

Data 241

Data Azure Machine Learning Artificial Intelligence 241

How To Buy Saas

APRIL 29, 2024

Software as a Service (SaaS) solutions are becoming increasingly popular among businesses as a means of streamlining operations and increasing productivity. To ensure a smooth integration of software as a service (SaaS) solutions with preexisting systems, we will discuss eight different strategies in this post.

Systems Review 52

Systems Review Software Review Cloud Software 52

Clouded Judgement

MAY 26, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. As many of you know, the data points I’m looking for are any signs of consumption trends starting to tick back up. ie instead of storing 5 years of data they store 3 years. Follow along to stay up to date! What did we learn?

Cloud 141

Cloud Azure Trends Retention 141

Clouded Judgement

NOVEMBER 10, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. There are many limiters here - data security and compliance are big ones. The counter argument to this is will we be able to find enough high quality long context training data. Datadog Gives Software the All Clear?

Cloud 183

Cloud Artificial Intelligence AI GCP(Google Cloud Platform) 183

User Pilot

MAY 13, 2024

In this article, we’ll take a look at a few powerful marketing analytics software, focusing on their features and pricing. You can use marketing analytics tools to aggregate and analyze data from different channels to identify top-performing channels. You can use these reports to extract actionable insights from marketing data.

Software 105

Software Marketing Scale Social Media 105

Clouded Judgement

MAY 5, 2023

Every week I’ll provide updates on the latest trends in cloud software companies. Early Learnings from Q1 Reports Another big week of software learnings. I think it’s fairly consensus that consumption software will be the first to rebound. Follow along to stay up to date! We’re getting closer!

Cloud 130

Cloud Construction Trends Revenue 130

Clouded Judgement

JANUARY 19, 2024

Every week I’ll provide updates on the latest trends in cloud software companies. It starts with understanding what type of profile is attractive to public market investors, and I hope the weekly data I share helps give folks an understanding for what these types of metrics are. Follow along to stay up to date!

Cloud 177

Cloud Scale Compensation Metrics 177

Clouded Judgement

OCTOBER 21, 2022

Every week I’ll provide updates on the latest trends in cloud software companies. Data Engineering Survey The folks at Airbyte are running a survey of data engineers. Please consider completing it if your profession is in the data space. Link : [link] Are Software Companies Cheap or Fairly Valued?

Cloud 130

Cloud Software Review Subscription Payment Features 130