Sapphire Ventures Report: 80+ AI Startups Hit $100M+ ARR, Top 10 Private Companies Now Worth More Than All Public SaaS Combined
SaaStr·medium signal
AI-native companies compress time to $100M ARR from 5+ years to under 18 months, generating 5-10x more revenue per employee. The top 10 private enterprise software companies ($1.93T combined) now exceed the entire Pure SaaS Public Index ($1.88T). Enterprise captured 52% of all VC in 2025; 11 of 20 largest rounds ever occurred in 2025.