Looking at VC funding, these investments have been volatile in recent years after peaking in 2021. Companies have instead been encouraged to turn to M&A strategies for growth and liquidity. The median VC funding size was $2.8 million.

During the first three months of 2025, the median disclosed M&A transaction volume was $102M. The average disclosed exit revenue multiples during the first three months of 2025 for companies providing Application Software was 6.8 times, followed by Internet Content & Commerce at 5.7 times, and Payments at 4.4 times. Interstingly, 45% of sellers used a SaaS business model and at least 15% were developing deep tech, such as AI.