All Posts

This Week in SaaS - Nov 25 - Dec 1, 2025

Top exits, deals, news, and blog posts of the week

By
Ryan Allis
December 1, 2025

📚 New Blog Posts

  1. CEO Mastermind Recaps for the Week of November 23-26, 2025

💸 Big SaaS VC Rounds

  1. Model ML (AI workflow automation for financial services; SaaS) – raised a $75M Series A on Nov 25, 2025; funds will accelerate development of its AI-driven financial-operations automation suite, expand reconciliation and reporting capabilities and support international growth in regulated markets.
    ‍
  2. Range (AI-enabled wealth-management & financial-planning platform; SaaS) – raised a $60M Series C around Nov 25, 2025; funding will scale its automated advisory infrastructure, deepen its financial-planning product suite and broaden integrations across fintech and wealth-management ecosystems.
    ‍
  3. Overstory (AI vegetation-intelligence & wildfire-risk analytics for utilities; SaaS) – raised a $43M Series B on Nov 26, 2025; proceeds will expand its satellite-driven risk-modeling engine, strengthen predictive-insights tooling for utilities and accelerate global climate-resilience deployments.
    ‍
  4. Cerrion (AI video-agent platform for industrial operations; SaaS) – raised an $18M Series A on Nov 26, 2025; funding will expand its real-time factory-analytics agents, enhance downtime-prevention and scrap-reduction capabilities and scale deployments across global manufacturing sectors.
    ‍
  5. Sionic AI (enterprise-grade multi-agent AI infrastructure; SaaS/AI platform) – raised a $17M Series A in late November 2025; funds will scale its distributed-compute fabric, expand its autonomous-agent orchestration layer and accelerate enterprise adoption across finance, healthcare and industrial automation.
    ‍
  6. Vijil (AI-agent security & trust infrastructure; SaaS) – raised a $17M Series A on Nov 25, 2025; capital will expand its agent-resilience testing platform, strengthen policy-governance and security capabilities and scale enterprise usage for secure agentic-AI deployments.
    ‍
  7. Automat (AI-driven enterprise workflow automation / RPA replacement; SaaS) – raised a $15.5M Series A on Nov 27, 2025; capital will accelerate development of its “show-the-workflow” automation engine, expand migration tooling off legacy RPA systems and scale enterprise sales and customer success.
    ‍
  8. Rencore (cloud governance platform for Microsoft 365, Power Platform & AI systems; SaaS) – extended its Series A to $15M total on Nov 27, 2025; funds will strengthen governance automation, deepen AI/Copilot oversight modules and support enterprise expansion globally.
    ‍
  9. Momentic (AI-native testing / QA automation; SaaS) – raised a $15M Series A on Nov 25, 2025; capital will expand its autonomous QA engine, deepen developer-centric integrations and scale enterprise go-to-market for software-delivery acceleration.
    ‍
  10. Augmentt (multi-tenant Microsoft 365 security & SaaS-management platform for MSPs; SaaS) – raised a $12.7M Series A on Nov 28, 2025; proceeds will enhance security automation for MSP workflows, extend compliance tooling and grow North American channel partnerships.

🤝 SaaS M&A Deals 

  • S&P Global agreed to acquire With Intelligence (~$1.8B; private-markets data, analytics & workflow SaaS, UK/US) – announced on Nov 25, 2025; this acquisition strengthens S&P’s position in private-markets intelligence by integrating With Intelligence’s cloud-based data, analytics and workflow SaaS into S&P’s global information platform.
  • Cegid agreed to acquire Shine (~$— undisclosed; digital business-banking, invoicing & accounting SaaS, France/EU) – announced on Nov 26, 2025; the deal accelerates Cegid’s strategy to build a unified cloud financial “copilot” for SMBs by integrating Shine’s fintech SaaS suite with Cegid’s large European accountant and SMB software ecosystem.
  • RateGain Travel Technologies agreed to acquire Sojern (~$250M; travel-marketing & revenue-optimization SaaS, US/Global) – announced on Nov 26–27, 2025; this combination creates one of the largest AI-powered travel growth platforms, merging RateGain’s SaaS for pricing/revenue optimization with Sojern’s travel-marketing automation technology.
  • Girnar Finserv agreed to acquire SeedsAI (~$— undisclosed; LLM orchestration & automation SaaS, India) – announced on Nov 25, 2025; the deal brings AI automation and orchestration capabilities into Girnar’s fintech ecosystem by integrating SeedsAI’s SaaS platform and engineering team to power next-generation financial-services workflows.
  • Usio, Inc. agreed to acquire PostCredit Co. (~$— undisclosed; AI-powered expense-management & business-banking SaaS, US) – announced on Nov 25, 2025; this acquisition expands Usio’s digital financial stack by adding PostCredit’s AI-driven spend-management and banking-workflow SaaS into its payments and card-issuing platform.
  • Vyapar agreed to acquire Suvit (~$— undisclosed; AI-powered accounting-automation SaaS, India) – announced on Nov 27, 2025; the combination unifies Vyapar’s SMB accounting software with Suvit’s AI-driven automation engine to create an end-to-end SaaS platform for Indian MSMEs, accountants and tax professionals.

🚀 SaaS IPOs & S-1 Filings

  • Excelsoft Technologies (AI-powered learning, assessments & EdTech SaaS; India) – completed an IPO of $60M and listed on Nov 26, 2025 at a 12.5% premium. The offering supports expansion of its SaaS-based learning platform, upgrades to core IT infrastructure and construction of a new Mysuru facility.

🧠 Key Takeaways

  • Scale through segmentation, not surface-level growth. Sustainable mid-market and enterprise SaaS expansion depends on deep customer segmentation rather than broad acquisition. The November 26, 2025 SaaS Scale Guide emphasizes that founders who define precise ICP tiers, tailor sales motions by segment, and build repeatable operational processes outperform peers who grow horizontally. Companies that segment early, avoid premature scaling, and design workflows around high-value enterprise cohorts achieve stronger LTV, more predictable revenue, and more defensible market positions.

📈 SaaS Key Multiples & Benchmarks

Public SaaS Medians:

  • 6.1x TTM Revenue
  • 5.5x Forward Revenue
  • 38x EBITDA
  • 75% Gross Margin
  • 19.8% Annual Revenue Growth
  • 19% Net Profit/FCF
  • 8% EBITDA margin

Private SaaS M&A Medians:

  • 4.7x TTM Revenue, 22.4x TTM EBITDA

‍📰 Community News

See you next Monday with the next edition of This Week in SaaS.

‍-Ryan Allis, CEO of SaasRise