SaaStr 799: The Series A Landscape in 2025: Insights from Chemistry VC’s Ethan Kurzweil

SaaStr 799: The Series A Landscape in 2025: Insights from Chemistry VC’s Ethan Kurzweil

SaaStr 799: The Series A Landscape in 2025: Insights from Chemistry VC’s Ethan Kurzweil

SaaStr CEO and Founder Jason Lemkin and Ethan Kurzwiel, previously partner at Bessemer Venture Partners and now founding partner at Chemistry VC, took us through a deep dive of exactly where Series A funding is right now in 2025.

Current State of Early-Stage Venture Market

The early-stage venture landscape has experienced significant shifts since the peaks of 2021. We’re seeing:

  1. Deal activity decline: From the highs of 2021 (around 3.5B raised in Q4 2021), we’re seeing a return to baseline levels but still below pre-zero interest rate era volumes.
  2. Longer funding timelines: Seed to Series A timelines have stretched from approximately 12 months to 25 months on average, requiring founders to plan for longer runways.
  3. More capital into fewer deals: While total capital deployment is returning to pre-2021 levels, it’s being concentrated in fewer companies, making the environment more binary and competitive.
  4. Graduation rates plummeting: The percentage of seed companies successfully raising Series A has dropped significantly across all industries, creating a “crunch” for many startups.

Listen in for more!

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Alright everybody in SaaS, this is it.

The biggest, best, most action-packed SaaS + AI event of the year—SaaStr Annual 2025—is coming this May. Three full days. 10,000+ SaaS and AI leaders and more tactical, no-fluff content than you’ll find anywhere else.

If you want to scale faster—$10M, $50M, $100M ARR and beyond—you need the right playbooks, the right connections and the right people in your corner. And SaaStr Annual is where it all happens.

  • We'll have 100's of Legendary speakers from companies like Snowflake, HubSpot, OpenAI, Canva, and more.
  • More networking than you can handle—meet your next investor, co-founder, or biggest deal.
  • A New AI Demo & Pitch Stage— with your chance to win up to $5M in funding!

So don’t wait—grab your tickets now at SaaStrAnnual.com with my code jason100 to save $100 on tickets before prices go up. That's jason 100 at saastrannual.com

See you in May!

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Episoder(829)

SaaStr 782: The Future of AI in B2B SaaS: Insights from Synthesia's CEO and Theory Ventures. Hosted by SaaStr CEO Jason Lemkin

SaaStr 782: The Future of AI in B2B SaaS: Insights from Synthesia's CEO and Theory Ventures. Hosted by SaaStr CEO Jason Lemkin

SaaStr 782: The Future of AI in B2B SaaS: Insights from Synthesia's CEO and Theory Ventures. Hosted by SaaStr CEO Jason Lemkin As the AI revolution accelerates, it can be hard to keep up with the pace of innovation. SaaStr’s AI Day 2025 brought together the top minds in the SaaS, AI and Cloud to dive deep into the intersection of AI and B2B. Featuring insights from Victor Rippabelli, CEO of Synthesia, and Tomas Tunguz of Theory Ventures, Jason Lemkin leads the discussion that covered everything from enterprise AI adoption to the evolution of video technology and the changing landscape of venture funding.  Learn about the latest advancements in AI video models and how they enhance productivity and innovation. The discussion also explores the evolving landscape of venture funding in AI, the impact of cheaper AI models on enterprise costs, the dynamics of seat-based vs. outcome-based software pricing, and the future of AI agents in business workflows. Don't miss this insightful conversation on the current and future state of AI in the enterprise. -------------------------------------------------------------------------------------------- SaaStr hosts the largest SaaS community events on the planet. Hey everybody - thanks to the 10,000 of you who came out to SaaStr Annual. We had a blast and big news -- we'll be back in MAY of 2025. That's right, the SaaStr Annual will be a bit earlier next year, May 13-15 2025. We'll still be back in the same venue, in the SF bay area at the 40+ acre sprawling san mateo county events center. Grab your tickets at saastrannual.com with code JASON50 for an extra discount on our very best pricing. --------------------------------------------------------------------------------------------

31 Jan 52min

SaaStr 781: The RevOps Playbook: Owner.com CRO’s Secrets to Scaling

SaaStr 781: The RevOps Playbook: Owner.com CRO’s Secrets to Scaling

SaaStr 781: The RevOps Playbook: Owner.com CRO’s Secrets to Scaling Join Kyle Norton, CRO at Owner.com, as he dives into the fundamentals of operating a revenue team with excellence. In this 40-minute session, Kyle outlines his SaaS-focused 'revenue operating system,' inspired by analogies of the Iron Man suit. Learn about the four key components crucial for predictable revenue growth: measuring, managing, planning, and communicating. Kyle shares practical tools, metrics, and rhythms designed to streamline business operations, turning chaos into order and accelerating organizational growth. Gain insights from his extensive experience and take away actionable steps and templates to implement immediately in your own business. -------------------------------------------------------------------------------------------- SaaStr hosts the largest SaaS community events on the planet. Hey everybody - thanks to the 10,000 of you who came out to SaaStr Annual. We had a blast and big news -- we'll be back in MAY of 2025. That's right, the SaaStr Annual will be a bit earlier next year, May 13-15 2025. We'll still be back in the same venue, in the SF bay area at the 40+ acre sprawling san mateo county events center. Grab your tickets at saastrannual.com with code JASON50 for an extra discount on our very best pricing. --------------------------------------------------------------------------------------------

29 Jan 40min

SaaStr 780: 9 Things You Can Do to Grow Faster this Year with SaaStr CEO and Founder Jason Lemkin

SaaStr 780: 9 Things You Can Do to Grow Faster this Year with SaaStr CEO and Founder Jason Lemkin

SaaStr 780: 9 Things You Can Do to Grow Faster this Year with SaaStr CEO and Founder Jason Lemkin Join us for this insightful podcast where SaaStr CEO and Founder Jason Lemkin discusses the key strategies to differentiate a successful year from a mediocre one. Focusing on 9 practical and effective layers to add to your business, this session covers everything from outbound strategy, customer conferences, and going multi-product, to the importance of customer success and global expansion. Learn from real-world examples and actionable advice to drive your growth and add value effectively.  -------------------------------------------------------------------------------------------- SaaStr hosts the largest SaaS community events on the planet. Hey everybody - thanks to the 10,000 of you who came out to SaaStr Annual. We had a blast and big news -- we'll be back in MAY of 2025. That's right, the SaaStr Annual will be a bit earlier next year, May 13-15 2025. We'll still be back in the same venue, in the SF bay area at the 40+ acre sprawling san mateo county events center. Grab your tickets at saastrannual.com with code JASON50 for an extra discount on our very best pricing. --------------------------------------------------------------------------------------------

24 Jan 35min

SaaStr 789: What to Expect from a New CRO with Kathy Lord, CRO at Zensai and Jason Lemkin, SaaStr CEO and Founder

SaaStr 789: What to Expect from a New CRO with Kathy Lord, CRO at Zensai and Jason Lemkin, SaaStr CEO and Founder

SaaStr 789: What to Expect from a New CRO with Kathy Lord, CRO at Zensai and Jason Lemkin, SaaStr CEO and Founder SaaStr CEO and Founder Jason Lemkin sat down with Kathy Lord, CRO of Zensai (and formerly of Intacct), to talk about what CEOs and CROs should really expect from one another, especially in those critical first 90 days. Kathy shares her journey and insights, and together they discuss the critical aspects CEOs and founders should align on when hiring a CRO or VP of Sales, the importance of having a real 90-day plan, and the differences in expectations between a CRO and a VP of Sales. Kathy provides actionable takeaways for ensuring alignment and setting realistic goals while addressing common pitfalls in hiring executive sales roles. This episode is packed with valuable strategies and real-world examples, making it a must-listen for anyone involved in scaling up SaaS companies. -------------------------------------------------------------------------------------------- SaaStr hosts the largest SaaS community events on the planet. Hey everybody - thanks to the 10,000 of you who came out to SaaStr Annual. We had a blast and big news -- we'll be back in MAY of 2025. That's right, the SaaStr Annual will be a bit earlier next year, May 13-15 2025. We'll still be back in the same venue, in the SF bay area at the 40+ acre sprawling san mateo county events center. Grab your tickets at saastrannual.com with code JASON50 for an extra discount on our very best pricing. --------------------------------------------------------------------------------------------

22 Jan 35min

SaaStr 788: Going Multi-Product in the Age of AI with Webflow, Rubrik, Zoom, and ProductBoard

SaaStr 788: Going Multi-Product in the Age of AI with Webflow, Rubrik, Zoom, and ProductBoard

SaaStr 788: Going Multi-Product in the Age of AI with Webflow, Rubrik, Zoom, and ProductBoard At SaaStr Annual's AI Summit, we asked product leaders from some of the fastest-growing SaaS companies to share their insights on navigating the AI revolution while scaling multi-product strategies. This panel of product leaders featured Anneka Gupta, CPO at Rubrik, Mahesh Ram, Head of AI Product at Zoom, Hubert Palan, CEO at Productboard, and Rachel Wolan, CPO at Webflow. -------------------------------------------------------------------------------------------- SaaStr hosts the largest SaaS community events on the planet. Hey everybody - thanks to the 10,000 of you who came out to SaaStr Annual. We had a blast and big news -- we'll be back in MAY of 2025. That's right, the SaaStr Annual will be a bit earlier next year, May 13-15 2025. We'll still be back in the same venue, in the SF bay area at the 40+ acre sprawling san mateo county events center. Grab your tickets at saastrannual.com with code JASON50 for an extra discount on our very best pricing. --------------------------------------------------------------------------------------------

17 Jan 24min

SaaStr 787: 10 Ways Sales is Different in Vertical SaaS with Mangomint’s VP of Sales Marchelle Mooney

SaaStr 787: 10 Ways Sales is Different in Vertical SaaS with Mangomint’s VP of Sales Marchelle Mooney

SaaStr 787: 10 Ways Sales is Different in Vertical SaaS with Mangomint’s VP of Sales Marchelle Mooney While some might dismiss sector-specific vertical SaaS software as ‘too small’ or ‘too niche’, companies like Veeva ($40B), Clio ($3B), Toast ($1.3B), and Slice ($1B) have proven there’s massive value in going deep rather than broad. Mangomint has quietly built an impressive vertical SaaS business in the spa and salon space, growing 100% year-over-year to approach $20M ARR with 110% NRR. So we asked Mangomint’s VP of Sales Marchelle Mooney to share 10 ways sales is different in vertical SaaS. Marchelle’s personal journey took her from early adopter of Mangomint, to 6 years later, VP of Sales over a 25+ person SMB sales team. Here’s some of what she’s learned along the way. -------------------------------------------------------------------------------------------- SaaStr hosts the largest SaaS community events on the planet. Hey everybody - thanks to the 10,000 of you who came out to SaaStr Annual. We had a blast and big news -- we'll be back in MAY of 2025. That's right, the SaaStr Annual will be a bit earlier next year, May 13-15 2025. We'll still be back in the same venue, in the SF bay area at the 40+ acre sprawling san mateo county events center. Grab your tickets at saastrannual.com with code JASON50 for an extra discount on our very best pricing. --------------------------------------------------------------------------------------------

15 Jan 41min

SaaStr 786: Adding AI to SaaS: Inside the AI Product Strategies of Figma, Cloudflare, GitHub and Ramp

SaaStr 786: Adding AI to SaaS: Inside the AI Product Strategies of Figma, Cloudflare, GitHub and Ramp

SaaStr 786: Adding AI to SaaS: Inside the AI Product Strategies of Figma, Cloudflare, GitHub and Ramp At SaaStr Annual's AI Summit, we gathered an all-star panel of product leaders who have built some of the most widely-used AI features in production today. The speakers included Mario Rodriguez, Chief Product Officer at GitHub at GitHub, Diego Zaks, VP of Design at Ramp, Dane Knecht, SVP of Emerging Technologies at Cloudflare, and Vincent van der Meulen, Design Engineer at Figma, and Dani Grant, CEO at Jam.dev. -------------------------------------------------------------------------------------------- SaaStr hosts the largest SaaS community events on the planet. Hey everybody - thanks to the 10,000 of you who came out to SaaStr Annual. We had a blast and big news -- we'll be back in MAY of 2025. That's right, the SaaStr Annual will be a bit earlier next year, May 13-15 2025. We'll still be back in the same venue, in the SF bay area at the 40+ acre sprawling san mateo county events center. Grab your tickets at saastrannual.com with code JASON50 for an extra discount on our very best pricing. --------------------------------------------------------------------------------------------

10 Jan 48min

SaaStr 785: Usage-Based Revenue Models: Successes and Pitfalls from Checkr COO Lindsey Scrase on CRO Confidential

SaaStr 785: Usage-Based Revenue Models: Successes and Pitfalls from Checkr COO Lindsey Scrase on CRO Confidential

SaaStr 785: Usage-Based Revenue Models: Successes and Pitfalls from Checkr COO Lindsey Scrase on CRO Confidential In the latest episode of our SaaStr CRO Confidential podcast, host Sam Blond sat down with Lindsey Scrase, COO of Checkr (and former CRO), to discuss her tactics for driving growth at the background screening unicorn. Lindsey shares valuable lessons on transitioning from a CRO to COO role, how usage-based pricing effected commission structures, leveraging data for operational improvements, aligning incentives to drive company success, and enhancing customer experience to ensure long-term growth. Dive deep into the strategic approaches that have led Checkr to become a $5 billion generational SaaS business. -------------------------------------------------------------------------------------------- SaaStr hosts the largest SaaS community events on the planet. Hey everybody - thanks to the 10,000 of you who came out to SaaStr Annual. We had a blast and big news -- we'll be back in MAY of 2025. That's right, the SaaStr Annual will be a bit earlier next year, May 13-15 2025. We'll still be back in the same venue, in the SF bay area at the 40+ acre sprawling san mateo county events center. Grab your tickets at saastrannual.com with code JASON50 for an extra discount on our very best pricing. --------------------------------------------------------------------------------------------

8 Jan 41min

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