PitchBoo-k-2024年二季度基礎(chǔ)設(shè)施SaaS報告（英）-2024-11正式版WN8

EMERGINGTECHRESEARCHInfrastructureSaaSReportVCtrendsandinnovationspotlightsQ2REPORTPREVIEWThefullreportisavailablethroughthePitchBookPlatform.2024ContentsVerticalupdate3InstitutionalResearchGroupAnalysisQ22024timeline5DerekHernandezSeniorAnalyst,EmergingTechnologyInfrastructureSaaSlandscapeInfrastructureSaaSVCecosystemmarketmapVCactivity6derek.hernandez@7pbinstitutionalresearch@8DataMatthewNacionalesSeniorDataAnalystInnovationspotlightDataobservability17182021PublishingSelectcompanyhighlightMonteCarloReportdesignedbyDrewSandersandJoeySchafferPublishedonAugust2,2024Q22024InfrastructureSaaSReportCONFIDENTIAL.NOTFORREDISTRIBUTION.PG2Q22024timelineQ2VCdealcountsummary100totaldeals-8.3%May1June4June26QoQgrowthCoreWeave,acloudinfrastructureplatformprovidingcomputingresourcesthroughaspecializedgraphicsprocessingunitcloudsystem,raisesa$1.1billionSeriesCequityata$17.9billionpre-moneyvaluation.ThedealisledbyCoatueManagement

andnotablyincludes$7.5billionofdebtfinancing.Tabular,thedeveloperofadataautomationplatform,isacquiredbyDatabricks

for$1.0billion.Thecompanywasfoundedin2021andhas39employees.Databricks

statesthatitintendstousethisacquisitiontoevolve“towardasingle,open,andcommonCData,developerofdataintegrationsoftware,raisesa$350.0millionlate-stageVCfundingatanundisclosedvaluationinadealledbyWarburgPincus.CData

willcontinueitsmissionofdataconnectivitythroughinvestmentinoperations,productdevelopment,andgo-to-marketstrategies.-16.7%YoYgrowth-21.0%TTMgrowthstandardofinteroperability.”1Q2VCdealvaluesummary$3.4BtotaldealvalueMay16May16June26Vercel,aproviderofdevelopertoolsandcloudinfrastructure,raisesa$250.0millionSeriesEata$3.0billionpre-moneyvaluationinadealledbyAccel.Thecompanyintendstobuildoutitsv0product,whichwillleveragegenerativeAI(GenAI)tobuilduserinterface.MarketingforceManagement,developerofaSaaSintelligententerprisecloudplatform,exitsviaIPOontheHongKongStockExchange,raising$34.2millionatapre-moneyvaluationof$1.3billion.ThisisthethirdIPOin2024globallyandtheonlyoneexecutedinQ22024.Qwak,developerofanend-to-endproductionmachinelearning(ML)platform,isacquiredbyJFrog

for$230.0million,animpressive3.6xstep-upfromitspriorvaluationinMarch2023.JFrog

intendstoacceleratethecreationofAI-poweredapplicationsbysimplifyingprocessesandensuringmodelsecurity.15.4%QoQgrowth-18.9%YoYgrowth-

47.1%TTMgrowth1:"DatabricksAgreestoAcquireTabular,theCompanyFoundedbytheOriginalCreatorsofApacheIceberg,"Databricks,June4,2024.Q22024InfrastructureSaaSReportCONFIDENTIAL.NOTFORREDISTRIBUTION.PG5InfrastructureSaaSlandscapeDevOpsApplicationinfrastructureDatasoftware&systemsITOpsQ22024InfrastructureSaaSReportVCactivityInfrastructureSaaSVCdealactivitybyquarter25020015010050ForinfrastructureSaaS,Q22024wasthethirdquarterinarowofsteadyandsustaineddealvaluegrowth,withupto$3.4billionfromthelowof$1.7billioninQ32023.ThiswasbolsteredbyCoreWeave’sQ2outsizedraiseof$1.1billioninequity—furthersupportedbyanother$7.5billionindebtinthesametransaction.ExcludingCoreWeave

inQ22024,dealvaluewouldhavedecreased22.4%QoQ.Additionally,quarterlydealcountdippedslightlyto100VCdeals,downfrom109inthepriorquarter.YoYdealvalueanddealcountwerestilllower,down18.9%invalueand16.7%incountfromQ22023,whichisnotanespeciallystrongcomparison,asQ22023wasaweakerquarter.$10$8$6$4$2Includes$6.9BStripecontribution$00Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q22019202020212022Dealcount20232024*Dealvalue($B)ExcludingtheimpactofCoreWeave’sdeal,averagevalueperdealdecreasedslightlyto$22.6million,downfrom$26.7millioninQ12024butstilldecentcomparedwithrecentquarters.Altogether,bothdealcountsandvaluescontinuetorecover.Sofar,H12024istrendingtowardafull-yeardealvalueofabout$12.5billionacrossroughly418deals,whichwouldnearlymatch2023ondealcountandsurpassfull-year2023dealvalue—excludingasinglemegadealof$6.5billionbyStripe

inQ12023.Source:PitchBook?Geography:Global?*AsofJune30,2024InfrastructureSaaSVCdealactivity714636IncludesBrokendownbysegments,investmentswereconcentratedwithinthedigitalinfrastructureofmodernenterprises,particularlyapplicationinfrastructureanddatasoftware&systems.DealcountinQ22024hadaclearprogression,ledbyapplicationinfrastructureat37deals(37.0%ofthetotal),thenDevOpsat31deals(31.0%ofthetotal),datasoftware&systemsat25deals(25.0%ofthetotal),andITOpsonceagainbringinguptherearatsevendeals(7.0%ofthetotal).506$6.9BStripe440contribution399315166$2.5267130$2.0209194$4.8$2.8$3.0$6.3$10.2$24.12021$18.82022$16.92023$6.320142015201620172018201920202024*Dealvalue($B)DealcountSource:PitchBook?Geography:Global?*AsofJune30,2024Q22024InfrastructureSaaSReportVCACTIVITYKeyinfrastructureSaaSearly-stageVCdealsinQ22024*Post-moneyvaluation($M)CompanyClosedate(2024)SegmentCategoryDealvalue($M)Leadinvestor(s)TwelveLabsCoalesceConduitJune4April4June26June26May17May23May29June25June6ApplicationinfrastructureDatasoftware&systemsApplicationinfrastructureDatasoftware&systemsDevOpsApplicationinfrastructureDatamanagementsoftwareApplicationinfrastructureDatamanagementsoftwareFull-serviceDevOpsITOpsmanagementCreate$50.0$50.0$37.0$35.0$26.7$26.3$23.0$21.6$20.1$20.0N/ANVentures,NewEnterpriseAssociatesEmergence,IndustryVenturesHaunVentures,ParadigmCraftVenturesN/A$220.0N/AOnehouseCodesphereFinoutN/ACreandumITOps$71.9N/ARedDotCapitalPartnersVertexVenturesIsraelN/AFireflyDevOpsAirOpsDevOpsFull-serviceDevOpsCreate$60.0N/APatronusAISurrealDBDevOpsN/AJune18Datasoftware&systemsDatamanagementsoftwareN/AFirstMarkCapital,GeorgianSource:PitchBook?Geography:Global?*AsofJune30,2024Q22024InfrastructureSaaSReportCONFIDENTIAL.NOTFORREDISTRIBUTION.PG12VCACTIVITYKeyinfrastructureSaaSlate-stageVCdealsinQ22024*Post-moneyvaluation($M)CompanyClosedate(2024)SegmentCategoryDealvalue($M)LeadinvestorCoreWeaveCDataMay1ApplicationinfrastructureDatasoftware&systemsDevOpsCloudSaaS$1,100.0$350.0$70.0$19,000.0$800.0$770.0N/ACoatueManagementWarburgPincusMaverickCapitalSilverLakeJune26April4June27May2DatamanagementsoftwareCreateSiMa.aiOdasevaIndiciumHydrolixCoderDatasoftware&systemsDatasoftware&systemsDatasoftware&systemsDevOpsDatabasemanagementsystems$54.0DatamanagementsoftwareDatamanagementsoftwareCreate$40.0$35.0$35.0$30.0N/AColumbiaCapitalS3VenturesMay22June25April30April16May21$180.0$205.0$240.0N/AGeorgianTinybirdLoftLabsSimrDatasoftware&systemsDatasoftware&systemsApplicationinfrastructureDatamanagementsoftwareBaldertonCapitalKhoslaVenturesDatabasemanagementsystems$24.0CloudSaaS$20.0N/AUncorrelatedVenturesSource:PitchBook?Geography:Global?*AsofJune30,2024Q22024InfrastructureSaaSReportCONFIDENTIAL.NOTFORREDISTRIBUTION.PG13SELECTCOMPANYHIGHLIGHTS:MONTECARLOKeycompanyinformationFoundedLastfinancingpost-Leadinvestors2019moneyvaluation$1.6BAccel,GGVCapital,RepointVentures,ICONIQGrowth,IVPOverviewEmployeesLastfinancing199$135.0MMonteCarlo

isdevelopinganAI-drivendataobservabilityplatformwiththemissiontoreduceoreliminatedatadowntimetothegreatestextentpossible.Thecompanyworkstoguaranteedatavaliditythroughtheidentificationandresolutionofdatainfrastructureissuesacrosspipelinesandecosystems.MonteCarlo

incorporatesitsplatformwithanenterprise’smodelandcoderepository,datalakesandlakehouses,transactionaldatabases,modelingandorchestrationtools,datawarehouses,andbusinessintelligencetools.Byprovidingsuchexpansivecoverage,MonteCarlo

canautomateissuedetection,identifyrootcauses,andcreatepreventativeresolutionsthroughcustomrules.Thecompanyhasdevelopedspecializedsolutionsacrossseveralsectors,includingfinancialservices,healthcare,lifesciences,technology,advertising,media,entertainment,retail,andconsumerpackagedgoods.Totalraised$240.3MExitPredictorThelargestchallengestoMonteCarlo

achievinggreatermarketsharewillbestiffcompetitionfromwell-fundedincumbentvendorsaswellasnascentstartupsinthedataobservabilityspace.MonteCarlo

willhavetocontinueswiftdevelopmentofitsAI-poweredsolutions,especiallybyincorporatingrecentadvancementsinthetechnology,whichisalreadymovingatarapidpace.Weexpectthecompany’sfocusedapproachanddynamictrackrecordtobeanintegraldriverofthissuccessgoingforward.

IPO:41%probability

M&A:55%probability

Noexit:4%probabilitySuccess:96%probabilityNote:ProbabilitydataisbasedonPitchBookVCExitPredictormethodology.Q22024InfrastructureSaaSReportSELECTCOMPANYHIGHLIGHTS:MONTECARLOFinancinghistorySeriesAManagementSeriesBThecompanyisledbyco-founderandCEOBarrMosesandco-founderandChiefTechnologyOfficerLiorGavish.MoseswaspreviouslyvicepresidentofcustomersuccessoperationsatGainsight

andaconsultantatBain&Company.GavishwaspreviouslyseniorvicepresidentofengineeringatBarracudaNetworks,havingjoinedthroughtheacquisitionofSookasa,wherehewasaco-founderandvicepresidentofengineering.Bothco-foundersbringafocusoncustomers’dataneedsaswellasthetoolsandsolutionsnecessarytoaddressthem.Inaddition,Gavishbringsexperiencewithsuccessfullyfoundingandexitingacompanythroughanacquisitionin2016.MonteCarlo

hasgrownrapidlytonearly200employees,andweexpectthecompany’strackrecordofproductdevelopmentandsuccessfuldeploymenttocontinuethroughitsefforts.OurPitchBookExitPredictorisparticularlybullishontheopportunityforIPObyMonteCarlo

atroughly41%,andweexpectthatthemanagementteam’ssuccessfuldevelopmentandequityraisesbodewellforthispotentialoutcomeaswell.April6,2020February8,2021TotalraisedTotalraised$16.0M$25.0MPre-moneyvaluationPre-moneyvaluation$30.0M$100.0MLeadinvestorLeadinvestorsGGVCapital,RepointVenturesAccelSeriesCSeriesDCompetitorsAugust17,2021May24,2022Manyestablishedcompetitorsexistwithindataobservability,bothmassive,well-capitalizedincumbentsaswellaslong-standingprovidersofdatasystemssolutions.AmongthelargestplayersareIBM,Microsoft,Datadog,NewRelic,Dynatrace,SumoLogic,Splunk,Informatica,andCollibra.Althoughaunicorn,MonteCarlo

isarelativelysmallercompanybycomparison.OtherstartupsindataobservabilityincludeAcceldata

with$105.6millionraisedtodate,Bigeye

with$65.9millionraised,AcrylData

with$30.0millionraised,LightupData

with$20.7millionraised,Revefi

with$19.8millionraised,andKensu

with$4.6millionraised.WeexpectMonteCarlo

toleverageitsscale—$240.3millionraisedtodate—tocontinuetodevelopcompetitiveproductswithinthissector.TotalraisedTotalraised$135.0M$64.3MPre-moneyvaluationPre-moneyvaluation$420.0M$1.8BLeadinvestorICONIQGrowthLeadinvestorIVPQ22024InfrastructureSaaSReportPitchBookData,Inc.NizarTarhuniExecutiveVicePresidentofResearchandMarketIntelligencePaulCondraHeadofEmergingTechnologyResearchAboutPitchBookAdditionalresearchEricBellomoeric.bellomo@GamingE-CommerceDerekHernandezderek.hernandez@EnterpriseSaaSIndustryandTechnologyInfrastructureSaaSResearchBrendanBurkebrendan.burke@DataAnalyticsInformationSecurityArtificialIntelligence&MachineLearningAliJavaheriali.javaheri@EmergingSpacesRobertLeIndependent,objective,andtimelymarketintelrobert.le@InsurtechAaronDeGagneaaron.degagne@MedtechCryptoAstheprivatemarketscontinuetogrowincomplexityandcompetition,it’sessentialforinvestorstounderstandtheindustries,sectors,andcompaniesdrivingtheasset