This week, NY Venture capital company work-bench published its State of NYC enterprise tech funding. Surprisingly, this quarter surpassed the first quarter of 2020. Moreover, it set a record for best quarter since work-bench began tracking in 2014. This goes to show VCs are confident tech will bounce back from the financial setbacks due to coronavirus.
Earlier this year, towards the start of the COVID-19 Quarantine, I wrote about the #SafeAtHome to Slow the Spread’s impact on SaaS. As TechCrunch points out, some startups have taken this time to sharpen their teams, product, and pitches. Clearly, business to business (B2B) software is trending. Perhaps VCs consider it more trustworthy. This can be attributed to VCs funding enterprise tech over consumer based services until there are:
- rebounds in consumer confidence
- increases in consumer buying power
- better therapeutics and a vaccine
In that sense, VCs are acting just like everyone else waiting the pandemic out. Whether you currently are at a B2B SaaS company, or reading this inspires you to start one, here is a link to an interesting event next week:
We’re hosting a free digital summit with 20+ hours of content, 2 tracks, 30 speakers designed to provide high-impact and measurable value to companies selling to the enterprise.
Please click on the image above to get your Digital pass, and the SaaStr Team will confirm registration.SaaStr Team
Stay healthy and stream on!