Top SaaS Venture Capital Firms 2024

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Worth over $195 billion, the software-as-a-service (SaaS) industry has grown an estimated 500% in the last decade. This growth has sparked interest in the venture capital market, with many investors shifting their focus to SaaS startups. In fact, SaaS is now considered the most important tool for operating a successful business. 

With more and more SaaS companies entering the scene, venture capital firms are on the hunt for the industry’s most talented entrepreneurs to back. To help you find the perfect fit, we’ve identified the top VC firms that are currently investing in SaaS startups, along with details regarding the support they offer. 

We also recommend checking out our main list of the top venture capital firms.

Best VC Firms Investing in SaaS Startups

Whether you’re in the idea phase, mapping out a business plan, or looking to scale an existing business, a venture capital firm might be precisely what you need to take your business to the next level. 

With over 1,000 venture capital firms in the US alone, it can be difficult to choose which ones might be the best fit for you and your SaaS startup goals. Let’s take a look at the top VC firms currently investing in SaaS innovations and what makes them unique.

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1. Matrix

Founded in 1977, Matrix is a significant player in SaaS investment. Based out of Boston and San Francisco, Matrix focuses its investments on B2B SaaS, digital health, applied AI, software-defined hardware, and other technological innovations. 

As entrepreneurs themselves, the Matrix team has faced all of the challenges that come with launching a new business. With over 40 years of experience, Matrix has seen and done it all and is committed to helping tech entrepreneurs turn their ideas into reality. 

Overall, they have invested over $4 billion and helped hundreds of companies from pre-seed to Series A rounds. Their portfolio includes SaaS giants HubSpot, Canva, and Zendesk.

2. Accel

  • Location: Palo Alto, California
  • Stage: Early-Stage Venture, Late-Stage Venture, Seed
  • Notable Portfolio Companies: SigTuple, Beek, Chronicle 

A household name in SaaS investments, Accel began in Palo Alto, California, in 1983. Utilizing the firm’s “Prepared Mind” investment philosophy, the VC provides funding in the seed, early, and growth stages of development. Their focus is in the technology sector, with a focus on SaaS, media, infrastructure, eCommerce, and enterprise software.

Since its inception over 40 years ago, the Accel team has worked with some of today’s most recognized names in the tech industry. Its seed and early-stage investments include Facebook, Slack, and Dropbox. The firm’s growth capital investments include, Atlassian, and DJI. In March of 2022, Accel made news with its $650 million investment fund for Southeast Asian and Indian start-ups.

3. Bessemer Venture Partners

  • Location: Redwood City, California
  • Stage: Early-Stage Venture, Late-Stage Venture
  • Notable Portfolio Companies: Pinterest, Shopify, Wix

Ranked the eighth-largest venture capital firm by Venture Capital Journal, Bessemer Venture Partners is an entrepreneur-focused VC company headquartered in San Francisco. Founded by Carnegie Steel’s Henry Phipps Jr., the firm first got its start in 1911. Despite its foundation in the steel industry, BVP’s primary focus is in the enterprise, healthcare, and consumer industries.

Some of Bessemer Venture Partners’ most recent SaaS investments include Shopify, the leading eCommerce platform for online stores; Twilio, a customer engagement platform used by businesses across the globe; and DocuSign, an electronic document signing platform. To date, BVP has invested over $4 billion in over 130 companies.

4. SaaStr Fund

  • Location: Palo Alto, California
  • Stage: Early-Stage Venture, Seed
  • Notable Portfolio Companies: Mapistry, 

When Jason Lemkin first blogged about the challenges he faced going from $0 to $100 million ARR, he had no idea what an impact his words would have on the SaaS community. Out of that blog, the SaaStf Fund and the SaaStr Annual were born. Launched in 2012, SaaStr Fund pools its resources and experience to help entrepreneurs launch and scale their SaaS startups. 

The $90 million venture fund directs all of its energy at SaaS/B2B/enterprise startups. In addition to the $500,000 and $6 million the SaaStf Fund invests per startup, the fund’s participants also offer their support and expertise through every stage of development. 

SaaS startups that SaaStr Fund has been involved with include RevenueCat, which offers in-app subscription support; Algolia, an AI-powered search engine platform; and Talkdesk, a leading call center software solution.

5. Sequoia Capital

  • Location: Menlo Park, California
  • Stage: Early-Stage Venture, Late-Stage Venture
  • Notable Portfolio Companies: TipLink, Elyn

A California-based venture capital company, Sequoia Capital funnels its funding toward SaaS startups, as well as healthcare, finance, and energy. Founded in 1972 by Dona Valentine, the firm supports entrepreneurs through every stage of their journey, from pre-seed to growth. 

Utilizing the firm’s “Company Design” discipline, Sequoia Capital has raised over $35 billion and invested in over 1,220 companies. Their SaaS portfolio includes DoorDash, the on-demand food delivery company; Zoom, the cloud-based communication platform used by over 300 million participants worldwide, and Freshworks (formerly known as Zarget), a marketing and web optimization platform.

6. Point Nine

  • Location: Berlin, Germany
  • Stage: Early-Stage Venture, Late-Stage Venture, Seed
  • Notable Portfolio Companies: Figures, Solarize, Vev

Founded in 2008, this Berlin-based venture capital firm focuses on B2B SaaS, B2B marketplaces, and mobile apps. While the Point Nine team is smaller than other VC firms, their work is powerful, providing seed-stage investment capital to companies across Europe, Canada, and the US. 

When you partner with Point Nine, you can rest easy, knowing that the team will live, eat, and breathe your business. They offer a straightforward approach and mentor in everything from branding to employment and acquisitions. 

Over 65% of the startups Point Nine has backed at the seed stage raised a Series A. Some of the SaaS campaigns they’ve led to success include Factorial, an HR software tool for small- and medium-sized businesses, Container xChange, a German container logistics platform, and NexHealth, a patient experience platform based in Utah.

7. Costanoa Ventures

  • Location: Palo Alto, California
  • Stage: Early-Stage Venture, Seed
  • Notable Portfolio Companies: Alation, Quizlet

Costanoa Ventures is a California-based VC company founded in 2012. Since its inception, the firm has raised over $890 million and made 165 investments. With a primary focus on early-stage investments, the Costanoa Ventures team of experts offers its expertise to help guide you through every stage of development. Their primary goal is to help you accelerate your goals and get to market faster. 

Investing predominantly in cloud-based startups, 90% of Costanoa Ventures’ seed-stage startups raise a Series A within two years. Some of their greatest SaaS startups include ACME Technologies, a ticketing management platform, Quizlet, an online learning platform, and Alation, an industry leader in data cataloging.

8. Boldstart Ventures

Boldstart Ventures is a New York-based VC company that provides seed funding in the tech marketplace. With a focus on the cloud computing, mobile, and Internet sectors, Boldstart Ventures seeks to collaborate with entrepreneurs with the passion and drive to build something powerful. 

As founders themselves, Boldstart Ventures matches founders with its network of Fortune 500 executives and customers. Boldstart Ventures’ advisory board helps entrepreneurs identify pain points and offer targeted advice based on their findings. With the BV network on their side, the founder timeline is accelerated, with most ‘fit to market’ in a fraction of the average time. 

Boldstart Ventures has invested over $360 million in over 60 enterprise startups. Several of these investments went on to be acquired by corporate giants such as LinkedIn, Google, and Salesforce. A few of their top SaaS investments include employee scheduling and planning software Sling, business process management software Catalytic, and sales automation platform WorkRails.

9. Index Ventures

  • Location: San Francisco, California
  • Stage: Early-Stage Venture, Late-Stage Venture, Seed
  • Notable Portfolio Companies: Etsy, Dropbox, Deliveroo

Index Ventures was established in 1996 by Neil Rimer, David Rimer, and Giuseppe Zocco. Since its inception, the company has made almost 1,100 investments and raised $12.7 billion. With dual headquarters in London and San Francisco, this European venture capital firm invests in tech organizations with a focus on ecommerce, security, gaming, mobility, and infrastructure/AI. 

Index Ventures doesn’t just invest in ideas; it invests in the innovators behind the ideas. They take a more personal approach, forging powerful relationships with the people they back. Through collaboration, they’ve taken companies from seed to IPO and turned entrepreneurs into global industry leaders. 

In its almost 30 years in business, Index Ventures has built an impressive portfolio. The firm has backed some of the biggest names in the industry, including Dropbox, Discord, and Slack.

10. Insight Partners

  • Location: New York, New York
  • Stage: Debt, Early-Stage Venture, Late-Stage Venture, Private Equity, Seed
  • Notable Portfolio Companies:, OpenEyes, Portside

Founders Jeff Horing and Jerry Murdock recognized early on that software would reshape every aspect of our personal and professional lives. In 1995, they founded Insight Partners (formerly Insight Venture Partners) in an effort to accelerate growth and profits in software companies. Since then, the firm has raised over $7.6 billion and made over 1,000 investments, exits, and acquisitions. 

As a growth-stage VC firm, Insight Partners focuses on helping software and technology companies bring their innovations to market. They have an impressive team of investors, analysts, and executives, who provide invaluable insight into what it takes to take your project to the next level.

In its 28 years in business, Insight Partners has built a remarkable portfolio spanning every sector. Its SaaS investments include Turing, which uses AI to vet and hire developers; Appriss, a data analytics solution for the retail and healthcare sectors, and ComplianceQuest, a compliance and processes automation platform.

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11. Atlanta Ventures

  • Location: Atlanta, Georgia
  • Stage: Seed
  • Notable Portfolio Companies: Salesloft, TeamWorks

Founded in 2012, this Atlanta-based company focuses on helping entrepreneurs with three things - start, grow, and learn. While their focus is on SaaS-based business models, they provide much more than investment capital. Atlanta Ventures partners with driven, innovative entrepreneurs to launch business ideas, provide early-stage funding for companies in the Southeast, and empower the entrepreneurial community through educational resources and events.

With an extensive catalog of investments, some of the standout SaaS companies include Calendly, a scheduling software solution for businesses, and SalesLoft, a leader in the sales engagement software sector.

12. Frontline Ventures

  • Location: United Kingdom
  • Stage: Early-Stage Venture, Late-Stage Venture, Seed
  • Notable Portfolio Companies: Vanta, Advisable, Signal AI

With home offices in London and Dublin, Frontline Ventures focuses on SaaS companies with global ambitions. Its goal is to bridge the gap between humans and technology by investing in the industry’s top innovators and entrepreneurs.

Frontline Ventures’ focus is twofold. They invest in US-based, growth-stage SaaS companies looking to expand into Europe and European innovators at the pre-product, pre-seed, and seed stages whose long-term goals include a US presence. Its team, comprised of industry experts and ex-business operators, has raised more than $293 million and led over 100 companies to success. 

The firm’s extensive portfolio includes a number of SaaS companies, including Vanta, a security and compliance solution provider; Localistico, an analytics and marketing tool for retail businesses; and Lattice, an HR software tool designed to help boost employee engagement and performance.

13. OpenView

  • Location: Boston, Massachusetts
  • Stage: Debt, Early-Stage Venture, Late-Stage Venture
  • Notable Portfolio Companies: Cypress, Kolide, Jumpcloud

OpenView is an expansion-stage venture firm based in Boston. Since its formation in 2006, the enterprise has raised almost $2.5 billion across its seven funds. The firm targets seven to nine new investments each year. By limiting their efforts, the team can provide concentrated support, ensuring each investment results in success.

When backed by OpenView, entrepreneurs have access to the firm’s comprehensive team and its wealth of knowledge and experience. But, the support doesn’t stop there. Investment also comes with access to OpenView’s Expansion Platform, which assists companies in hiring their industry’s top talent, expanding their customer base, and networking.

With a focus on expanding existing SaaS companies, OpenView’s portfolio is quite impressive. Standouts include Cypress, an automated testing platform designed for developers and QA engineers; and JumpCloud, a platform designed to unify a company’s users, without sacrificing security or functionality.

14. Battery Ventures

  • Location: Boston, Massachusetts
  • Stage: Debt, Early-Stage Venture, Late-Stage Venture, Private Equity, Seed
  • Notable Portfolio Companies: Amplitude, belong, Bionic

Formed in 1983, Battery Ventures is an authority in the tech VC industry. With six offices across the US and Israel, Battery Ventures focuses on funding tech companies in early-stage development and late-stage business growth. The BV team is comprised of driven, innovative entrepreneurs who are looking to collaborate with like-minded business leaders. With over $13 billion raised since its inception, it’s clear that Battery Ventures has what it takes to lead a business to global success. 

While Battery Ventures focuses on industrial tech, consumer technology, infrastructure software, and application software, they are open to promoting talent spanning all sectors of the tech industry. Noteworthy SaaS projects include Amplitude, a user-behavior analytics software; and Bionic, a leading application intelligence platform used by enterprises across the globe.

15. Eight Roads Ventures

  • Location: London, United Kingdom
  • Stage: Early-Stage Venture, Late-Stage Venture, Venture
  • Notable Portfolio Companies: Alternative Bio, Coho AI

First launched as Fidelity Ventures in 1969, Eight Roads Ventures is the godfather of venture capital firms. The firm, which started in Boston, backed early tech innovators ATARI, MCI, and Continental Cablevision. Eight Roads Ventures is the proprietary branch of Fidelity, which has offices across the US, India, China, Japan, and the UK. The global company has over $2 billion in assets and eight funds, primarily backing the tech and healthcare industries. 

The Eight Roads team knows the hard work and dedication it takes to successfully launch a startup. To ensure each entrepreneur they partner with gets the comprehensive attention they deserve, each company selected undergoes a rigorous selection process. Those chosen don’t just receive funding; they are also mentored on everything from marketing to talent recruitment. 

While healthcare has been a primary focus for Eight Roads Ventures for over 25 years, they have made some significant SaaS investments, including Amenitiz, a property management software solution for hotels and B&Bs, and ForceClouds, a cloud solution designed for the healthcare industry.

16. SOSV

  • Location: Princeton, New Jersey
  • Stage: Early-Stage Venture, Seed
  • Notable Portfolio Companies: Atiom, Betagged

Founded in 1995 by Sean O’Sullivan, SOSV is a VC firm that focuses on pre-seed, seed, venture, and growth-stage funding for tech startups. With offices in the US, Ireland, and China, this global VC enterprise has made over 2,500 investments and has over $1.5 billion in assets.

SOSV primarily invests in deep tech innovations, with climate and human health as its focus. The firm has developed three programs, HAX, IndieBio, and Orbit Startups. While each program has a focus, they all have one thing in common - helping startups break through barriers and tap into emerging markets.

SOSV’s extensive SaaS portfolio includes a number of impressive names, including the influencer marketing platform BeTagged, and Atiom, behavioral technology used by businesses to help increase employee performance.

17. Active Capital

  • Location: San Antonio, Texas
  • Stage: Early-Stage Venture, Seed
  • Notable Portfolio Companies:, Cliently, Cloud Campaign

Active Capital is a venture capital firm based in San Antonio, Texas. The company, which was founded in 2017, focuses on seed-stage B2B SaaS startups located outside of Silicon Valley. Its portfolio includes 91 companies, for which it has raised over $70.5 million.

The team, which boasts over 20 years of experience investing in cloud infrastructure and B2B SaaS, has founded and scaled multiple successful businesses. The firm is a culmination of their life’s work and they are passionate about helping other entrepreneurs achieve their business goals.

Active Capital’s portfolio includes a number of unicorn investments. Among the most noteworthy are ZenBusiness, a platform that helps small businesses maintain compliance, and, the world’s largest startup acquisition marketplace.

18. Northzone

  • Location: London, United Kingdom
  • Stage: Early-Stage Venture, Seed
  • Notable Portfolio Companies: Spotify, Kahoot, Trustpilot

A multi-stage venture capital firm, Northzone is based out of London. This team of experienced business operators understands the intricacies of launching a startup. They invest in the entrepreneurs as much as the business and are always on the hunt for leaders that have broken the mold and are leading the change. 

With noteworthy investments in companies like Spotify, the favored music streaming service, and Trustpilot, a customer review management system, Northzone is now expanding its reach to more disruptive technologies.

19. Harlem Capital Partners

  • Location: New York, New York
  • Stage: Early-Stage Venture, Seed
  • Notable Portfolio Companies: Portabl, Lami

Harlem Capital Partners is a micro-venture capital firm based in Harlem. This minority-led VC firm is on a mission to diversify the business ecosystem. With a goal to invest in 1,000 minority entrepreneurs over the next twenty years, HCP has already raised almost $175 million across two funds and made 58 investments. By addressing the disparities in business, the company has given a voice to innovative founders that would otherwise have remained silent. 

Like the founders it invests in, HCP has a diverse portfolio spanning many industries. Notable SaaS investments include Gander, a black, female-owned software company that provides video-enabled marketing solutions, and Lami, a digital insurance platform designed to connect insurance carriers with residents of Africa.

20. 1517 Fund

  • Location: San Francisco, California
  • Stage: Early-Stage Venture, Seed
  • Notable Portfolio Companies: Astrus, Commenda

1517 Fund is a venture capital firm that invests in early-stage startups in technology and science-related fields. 

The firm is known for its focus on investing in companies at the very early stages of development, often before they have a finished product or significant revenue. 1517 Fund seeks out founders who are passionate about their ideas and have a deep understanding of their industry.

Overall, 1517 Fund is a unique and innovative VC firm that aims to support and invest in early-stage startups with transformative ideas and passionate founders.

21. Forum Ventures

  • Location: New York, New York
  • Stage: Early-Stage Venture, Seed
  • Notable Portfolio Companies: answerable, Bbot, Ascendo

Formally named Acceleprise, Forum Ventures is led by a team of entrepreneurs who have built their own successful SaaS startups. Through their work with over 450 SaaS startups, Forum Ventures has built an international community of experts who are there to lend support and guidance through every stage of your journey.

Recognizing the challenges many SaaS founders face, Forum Ventures invests in their entrepreneurs first and foremost. To help ensure every SaaS startup realizes success, Forum offers both investment options and an accelerator program. Its pre-seed program, Forum for Founders, provides $100,000 in pre-seed funding, along with three weeks of extensive guidance, mentoring, networking, and events. The company’s seed fund, Forum Seed, backs SaaS startups at their seed stage of development.

Forum’s portfolio standouts include Ascendo, which uses AI technology to help businesses enhance the customer and employee experience; and Answerable, the platform that helps companies boost sales and engagement through crowdsourced information.

22. High Alpha

  • Location: Indianapolis, Indiana
  • Stage: Early-Stage Venture, Seed, Venture
  • Notable Portfolio Companies: Pimly, Humankind,

High Alpha is a B2B venture studio located in the Bottleworks District of Indianapolis. SaaS founders have two ways to partner with High Alpha. The High Alpha Studio offers founders the support and resources to take new ideas to market and grow existing businesses. The High Alpha Capital Studio is a seed and Series A venture fund that provides capital, mentoring, and support. 

Putting the founder first, High Alpha has backed close to 100 SaaS founders and co-founded over 35 new organizations. Its portfolio includes Humankind, the platform that connects consumers with human experts via SMS; Pimly, the product experience management platform for Salesforce; and, an integration platform used by logistics companies to ensure a seamless supply chain.

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