Silverpeak Q3 2022 benchmark report: Declining valuations – have we hit the bottom?

Welcome to the latest edition of the Silverpeak B&C Rounds report – a review of Series B&C investment rounds into European technology companies. The dataset covers total capital invested, average deal sizes, frequent investors, investments by country, among other statistics. The aim of this report is to provide readers with a good understanding of the fundraising environment for technology companies in Europe.

Report highlights

  • Q3 has seen inflation reach record highs, driven by various macroeconomic trends, including continued geopolitical instability, rising energy prices, and supply chain disruptions.
  • EV/revenue multiples are beginning to stabilise across the board. We can see the rate of decline this quarter (-9%) is much lower than in Q1 (-23%) and Q2 (-21%) of this year.
  • In 2022, the IPO market for software companies was particularly barren, only witnessing 9 IPOs, which, compared to a record 107 IPOs in 2021, is extremely low.
  • There are even more postive signs in the US where SaaS is starting to see a return to growth.

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