【PitchBook】2024年三季度基础设施SaaS报告-2024_11页_9mb
报告摘要
Infrastructure SaaS Report - Q3 2024 Summary
Core Content
This report provides an overview of the Infrastructure SaaS sector in Q3 2024, focusing on venture capital (VC) activity, market trends, and key company highlights. It outlines the growth trajectory of the sector, investment patterns, and notable developments across different segments.
Main Trends
- Deal Value: Q3 2024 saw a slight decrease in total deal value to $3.8 billion, down from $4 billion in Q2 2024, but up significantly from $1.6 billion in Q3 2023.
- Deal Count: The number of deals dropped to 89, from 118 in the previous quarter, though year-over-year (YoY) deal value increased by 130.8%.
- Average Deal Value: The average value per deal rose to $42.5 million, up from $34.2 million in Q2 2024, representing the highest since Q1 2023.
- Market Recovery: The sector is showing signs of recovery, with both deal counts and values expected to continue improving in the coming quarters.
Key Segments
The investments were primarily concentrated in the following segments:
- DevOps: Led in both deal count and value, with 35 deals (39.3% of total) and $1,978.9 million (52.3% of total).
- Data Software & Systems: Second in deal count with 30 deals (33.7% of total) and $1,277.5 million (33.8% of total) if excluding the three large raises.
- Application Infrastructure: Third with 15 deals (16.9% of total).
- ITOps: Fourth with 9 deals (10.1% of total).
Innovation Spotlight
AI-Assisted Software Development
The sector is increasingly driven by AI-assisted software development tools, which aim to enhance developer productivity through intelligent code generation, auto-completion, and natural language-based coding. These tools are designed to reduce repetitive tasks and facilitate quick code generation.
Select Company Highlight: Codeium
Overview
- Company: Codeium
- Focus: AI-powered coding assistant
- Key Features: Real-time code auto-completion, natural language-based coding, integrated chat
- Support: Over 70 programming languages
- Integration: Compatible with common IDEs
Key Information
- Founded: 2021
- Last Financing Valuation: $1.3 billion
- Lead Investors: Greenoaks Capital Partners, Kleiner Perkins, General Catalyst
- Employees: 80
- Total Raised: $243.0 million
Management
- CEO: Varun Mohan (formerly tech lead at Nuro)
- Co-Founder: Douglas Chen (former machine learning engineer at Meta)
- Leadership: Both co-founders have a strong background in solving complex software development challenges and have developed industry-recognized solutions.
Competitors
- Incumbents: Amazon, Google, Microsoft, OpenAI, GitHub, Atlassian, Dynatrace, ServiceNow, New Relic, IBM, Intel
- Startups: CircleCI ($312.5M), Anyscale ($259.9M), Replit ($227.6M), StormForge ($69M), Sedai ($18.5M), Kubiya ($12M)
Financing History
| Round | Date | Total Raised ($M) | Pre-Money Valuation ($M) | Lead Investor |
|---|---|---|---|---|
| Seed | January 1, 2021 | $3.0 | $23.0 | Greenoaks Capital Partners |
| Series A | April 28, 2022 | $25.0 | $190.0 | Greenoaks Capital Partners |
| Series B | December 12, 2023 | $65.0 | $445.0 | Kleiner Perkins |
| Series C | August 9, 2024 | $150.0 | $1.1B | General Catalyst |
VC Activity
- Total Deal Value: $3.8 billion
- Deal Count: 89
- Deal Value Growth: Despite a slight dip in deal count, the average deal value increased, indicating a shift toward larger, more impactful investments.
- YTD 2024: The year-to-date deal value is trending toward $13.9 billion across 429 deals, which would be close to 2023's total but slightly lower in value.
Key Early-Stage Deals
| Company | Close Date | Segment | Category | Deal Value ($M) | Post-Money Valuation ($M) | Lead Investor(s) |
|---|---|---|---|---|---|---|
| Baichuan AI | July 24 | DevOps | Full-service DevOps | $688.5 | $2,754.0 | N/A |
| Fireworks AI | July 8 | DevOps | Full-service DevOps | $52.0 | $552.0 | Sequoia Capital |
| Sahara AI | August 14 | Application Infrastructure | Application Infrastructure | $43.0 | N/A | Binance Labs, Pantera Capital, Polychain Capital |
| Volumez | July 8 | Data Software & Systems | Storage Management Software | $40.0 | $86.0 | Koch Disruptive Technologies |
| Roboflow | August 23 | DevOps | Create | $37.5 | $295.5 | N/A |
| Raycast | September 25 | DevOps | Create | $30.0 | N/A | Atomico |
Key Late-Stage Deals
| Company | Close Date | Segment | Category | Deal Value ($M) | Post-Money Valuation ($M) | Lead Investor(s) |
|---|---|---|---|---|---|---|
| Magic | September 10 | DevOps | Create | $320.7 | $1,581.7 | Eric Schmidt |
| Supabase | September 25 | Data Software & Systems | Data Management Software | $82.7 | $861.9 | Craft Ventures, Peak XV Partners |
| Cortex | August 30 | DevOps | Create | $60.0 | $470.0 | Scale Venture Partners |
| Laravel | September 5 | DevOps | Create | $57.0 | N/A | Accel |
| Opkey | August 22 | DevOps | Verify | $47.0 | $125.0 | PeakSpan Capital |
| QA Wolf | July 23 | DevOps | Verify | $36.0 | $170.0 | Scale Venture Partners |
| OneData | July 16 | Data Software & Systems | Data Management Software | $34.5 | N/A | HV Capital, Molten Ventures, VSquared Ventures |
| Freshpaint | July 17 | Data Software & Systems | Data Management Software | $30.7 | $245.0 | Threshold Ventures |
| Cherre | September 17 | Data Software & Systems | Data Management Software | $30.0 | $150.0 | HighSage Ventures |
Conclusion
The Infrastructure SaaS sector is showing signs of recovery in Q3 2024, with a focus on AI-assisted development and data management. While deal count decreased slightly, the average deal value increased, indicating a trend toward larger investments. Codeium stands out as a key player in the AI-assisted software development space, with strong backing and a growing team. The market map highlights the dominance of DevOps and data software & systems, with a notable number of large raises and continued innovation.
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