Reference / 03
Benchmarks. By stage, by model.
Operating ranges drawn from our own engagement set, cross-checked against public indexes. Top-quartile thresholds are the only column worth memorising.
Top quartilen = 12 · last 24 months
| Metric | Seed | Series A | Series B | Top quartile |
|---|---|---|---|---|
| Monthly growth rate (%)% | 15-20% | 10-15% | 5-10% | 15%+ |
| Gross margin (%)% | 60-70% | 65-75% | 70-80% | 75%+ |
| CAC payback (months)months | 12-18 | 6-12 | 6-9 | <12 |
| Net revenue retention (%)% | 100-110% | 110-130% | 120-140% | 120%+ |
| LTV:CAC ratio× | 2-3x | 3-5x | 4-6x | 3x+ |
| Activation rate (%)% | 20-35% | 30-50% | 40-60% | 40%+ |
| Monthly churn rate (%)% | 3-7% | 2-5% | 1-3% | <3% |
| Viral coefficientk | 0.1-0.3 | 0.2-0.5 | 0.3-0.7 | 0.5+ |
Ranges represent typical operating performance by stage for B2B SaaS companies. Top quartile marks the threshold above which a metric typically warrants further investment rather than further measurement. Cross-checked against the OpenView SaaS Benchmarks (2025), Bessemer Cloud Index, and a16z Growth Benchmarking.