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This Week in SaaS Nov 18 - 24, 2025

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

By
Ryan Allis
November 24, 2025

📚 New Blog Posts

  1. Outbound Email Domains & Inbox Setup Using Instantly
  2. CEO Mastermind Recaps for the Week of November 16-20, 2025

💸 Big SaaS VC Rounds 

  1. Luma AI (multimodal/3D AI platform; SaaS) – raised a $900 M Series C on Nov 19, 2025; funds will scale its AI super-cluster infrastructure, expand production of 3D-scene generation tools and support enterprise adoption across media & interactive industries.

  2. Genspark (AI workspace / “busy-work autopilot”; SaaS) – raised a $275 M Series B on Nov 20, 2025; capital to accelerate development of its automation workspace, scale enterprise sales and build AI features to remove repetitive tasks from knowledge workers.

  3. Suno (AI music-creation platform; SaaS) – raised a $250 M Series C on Nov 19, 2025; proceeds are earmarked to grow their content-creation ecosystem, deepen integrations with creative tools and broaden licensing partnerships.

  4. Doppel (AI-driven social-engineering defense platform; SaaS) – raised a $70 M Series C on Nov 19, 2025; funds will fuel expansion of its enterprise security solution, deepen AI detection for phishing/impersonation risks and expand into new geographies.

  5. Numeric (AI accounting automation / finance-operations platform; SaaS) – raised a $51 M Series B on Nov 19, 2025; these funds aim to broaden the platform beyond close-management into full finance operations, enhance AI capabilities for accounting teams and expand into mid-market enterprises.

  6. Agentio (creator-ads platform; SaaS) – raised a $40 M Series B on Nov 18, 2025; funds will help scale their creator-led advertising marketplace, strengthen integrations with major social platforms and grow analytics tools for brand/creator collaborations.

  7. Twenty (cyber-operations platform; SaaS) – raised a $38 M Series A on Nov 20, 2025; proceeds to transform industrial-scale cyber-warfare readiness, build autonomous defense tools and expand their enterprise clientele in critical infrastructure sectors.

  8. Chargeflow (chargeback-automation SaaS for merchants; B2B SaaS) – raised a $35 M Series A on Nov 18, 2025; capital to scale their AI-powered chargeback resolution platform for global merchants, improve dispute-management workflows and enhance fraud-prevention capabilities.

  9. Point One Navigation (precise-location APIs / “physical AI” platform; SaaS) – raised a $35 M Series C on Nov 20, 2025; the funds will fuel development of high-precision location services, build hardware/firmware partnerships and commercialise in automotive, logistics & AR markets.

  10. GetVocal (enterprise conversational-agent platform; SaaS) – raised a $26 M Series A on Nov 18, 2025; proceeds to scale trustworthy conversational agents across enterprises, enhance multilingual NLP and expand into global enterprise deployments.

  11. Nudge Security (AI security-governance for workforce & SaaS applications; enterprise SaaS) – raised a $22.5 M Series A on Nov 18, 2025; funds will support securing workforce AI & SaaS environments, build governance frameworks for AI adoption and expand into enterprise compliance markets.

  12. Tidalwave (mortgage-tech platform; SaaS) – raised a $22 M Series A on Nov 21, 2025; funds to drive growth across the U.S. mortgage market, build end-to-end workflow automation for lenders and integrate AI-driven underwriting features.

  13. OpenHands (open cloud-coding-agents platform; SaaS) – raised a $18.8 M Series A on Nov 18, 2025; capital to build open-source cloud-coding agents for enterprises, expand integrations with developer tools and grow their enterprise engineering user base.

  14. Infracost (cloud-cost-visibility for engineers; FinOps / SaaS) – raised a $15 M Series A on Nov 18, 2025; funds to shift FinOps earlier into engineering workflows, provide cost-visibility directly to developers and scale usage across cloud-native organizations.

  15. Jiga (AI-driven sourcing platform for custom parts; SaaS-adjacent) – raised a $12 M Series A on Nov 19, 2025; funds will support building their AI sourcing marketplace, expand partner integrations and scale into industrial/manufacturing supply-chain operations.

🤝 SaaS M&A Deals 

🚀 SaaS IPOs & S-1 Filings 

  • Capillary Technologies India (customer-loyalty & engagement SaaS; India) – launched an IPO valued at ≈ $106 million; final subscription day was Nov 18 2025. The offering strengthened its AI-driven marketing automation suite and global expansion.

  • Excelsoft Technologies (vertical SaaS for learning & assessment; India) – opened its ≈ $60 million IPO on Nov 19 2025 and closed Nov 21 2025; proceeds will fund platform R&D, AI-enabled products, and debt repayment.

  • Workmates Core2Cloud Solutions (cloud & DevOps services with managed-cloud SaaS offerings; India) – completed an IPO and debuted on the BSE SME exchange on Nov 18 2025, with a market capitalization near $20 million; shares opened about 90% above issue price.

🧠 Key Takeaways

  • Embed AI as a strategic foundation, not a feature. AI is now the defining layer of competitiveness for SaaS. Founders who integrate AI into product, go-to-market, and internal operations outperform those who treat it as an add-on. The November 2025 Founders Advisors SaaS Industry Update notes that companies embedding AI at their core widen performance gaps, achieve stronger retention, and command premium valuations.

  • Systematize growth — process beats heroics. Sustainable SaaS scale doesn’t come from superstar sellers; it comes from repeatable go-to-market systems. The GTM Intelligence Report (Nov 2025) highlights that teams with structured qualification frameworks, consistent deal execution, and SDR/BDR alignment saw ~30% win rates, versus ~23% for unstructured teams. Founders should codify motion, measurement, and feedback loops early to compound efficiency.

  • Prioritize defensibility over hype. M&A is increasingly surpassing IPOs as the preferred SaaS exit route; founders who build recurring, high-quality revenue streams, solid contracts, and clear unit economics find smoother paths to acquisition and stronger valuations. The Development Corporate SaaS Exit Crisis Report (Nov 2025) notes that multiples have compressed—from ~25× EBITDA to ~15×—rewarding operational readiness, not just growth velocity.

📈 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