Software/IT has been the bright spot for investments in the economy through 2020. The SaaS Capital Index’s over-performance relative to the broader indices has accelerated, with the median public SaaS company valuation multiple standing at 15.6 times TTM ARR as of November 30th, the highest ever.
To date, we have not seen the public run-up cause a similar rise in private company valuations. For the record, private valuations remain in their historical range of 3x to 8x TTM ARR.
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