Hot in Enterprise IT/VC - What's 🔥 in Enterprise IT/VC #298
What's 🔥 in Enterprise IT/VC #298Mid 😎 check in: anecdotal state of VC/startup market, IT Spending data still strong for must-have products
We’re halfway through the summer, and I thought I’d share what I’m seeing based on on a number of conversations with investors and founders. None of this is surprising, but here it is in two tweets. 1/The current cycle:
VCs still waiting for bottom
Slowdown in ARR is coming
Late stage market is dead
VCs triaging portfolio
FOMO is gone
Seed market, still strong...but many still waiting for seed founders to adjust valuation expectations 2/LPs cautioning VCs to slowdown
The Good
Back to Basics for healthier ecosystem
Relationship building vs. Transactional investing
Balanced growth > Growth at all costs
Founders raising right sized rounds
Hiring amazing talent easier
Missionary founders continue starting NewCos Assume things will be quite slow until September and even then this pause could last well into Q4. On the sales side, Gartner just released its latest IT Spending Report and while a downward revision, these are still enormous numbers, particularly driven by software spending which is still projected to increase by almost 10% from last year.
Here’s also more data from Ryan Neu from Vendr: spending trends on SaaS across Q2 - h/t @ETDurbin - lots of security cos on there with Snyk, Okta, Crowdstrike, Sentinelone As always, 🙏🏼 for reading and please share with your friends and colleagues. Scaling Startups
Enterprise Tech
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