These 101 companies buy growth stage software businesses ($1M-$10M ARR)

What They Pay

• Typically ~4-8x annual revenue
• Usually $5M-$80M deal sizes
• Mix of cash and earn-outs
• Some offer equity rolls

What They Look For

• ~$100k-$800k monthly revenue
• Usually 20%+ annual growth
• 90%+ net revenue retention
• Diversified customer base
* Estimates based on market data - actual terms vary by company and deal

Cuadrilla Capital

Enterprise software investment firm focused on control-oriented SaaS investments, specializing in analytics companies with strong product-market fit and strategic value.

Santa Barbara, USA
Founded 2021
Industries B2B Software
Target ~$8M - $28M ARR
Deal structure All cash

saas.group

Founded by serial entrepreneurs, acquires bootstrapped SaaS companies with a founder-friendly approach to elevate products and organizations. Built by founders and product enthusiasts.

Seattle, USA
Founded 2017
Industries B2B Software, Tech Services
Target ~$1M - $10M ARR
Response time 24 hours
Deal structure All cash, Flexible

IgniteTech

AI-first enterprise software company and business unit of ESW Capital Group. Specializes in acquiring undercapitalized enterprise software companies that have failed to reach potential, then revitalizing them with AI capabilities and the IgniteTech Unlimited program.

Austin, Texas
Founded 2010
Industries B2B Software
Response time 10 days
Deal structure All cash

Think3

$1B fund designed to enable SaaS founders to take more shots on goal by acquiring lower middle-market SaaS companies and helping founders transition to new ventures.

Austin, USA
Founded 2017
Industries B2B Software, Tech Services
Target ~$3M+ ARR
Close time 4 weeks
Deal structure All cash

The Brydon Group

Combat veteran-led private equity firm that partners with mid-career operators to acquire small businesses in B2B, B2G, and healthcare software and services. Focuses on CEO-in-Residence programs and provides committed capital with operational support.

Washington, D.C.
Founded 2020
Industries B2B Software
Deal structure Stock + cash

AppHub

E-commerce enablement platform serving merchants across Shopify, WooCommerce, and BigCommerce. Strategic acquirer building comprehensive suite of e-commerce applications through M&A.

New York, USA
Founded 2021
Industries E-commerce & Payments

iTrinity

SaaS portfolio operator running fast-growing portfolio of highly profitable businesses. Started with bootstrapping KWFinder in 2014, now operates 8 SaaS products with over 7.5 million users.

Bratislava, Slovakia
Founded 2014
Industries B2B Software
Response time 24 hours
Deal structure All cash

WestView Capital

Boston-based private equity firm focused on growth-oriented companies. Partners with exceptional entrepreneurs in minority and majority recapitalizations, growth capital and buyout transactions.

Boston, USA
Founded 2004
Industries B2B Software, Tech Services
Deal structure Stock + cash, Flexible

Calm Capital

Holding company that acquires profitable businesses with simple models that require little operational effort and have established customer bases.

North Carolina, USA
Founded 2018
Industries B2B Software
Deal structure All cash

Big Band Software

B2B SaaS software holding company committed to harmonizing capital, culture and teams. Buys companies to run long-term without pressure to quickly extract or flip. Focuses on growing and profitable B2B SaaS businesses that serve other businesses.

Minneapolis, USA
Founded 2023
Industries B2B Software
Target ~$1M - $10M ARR
Deal structure All cash

SpringSt Capital

Private equity firm that buys and scales vertical software businesses, providing deep operating expertise and long-term commitment to serving founders' people, customers, and legacy. Focuses on Energy, Healthcare, and Real Estate sectors.

United States
Industries B2B Software
Target ~$2M - $10M ARR
Deal structure 100% acquisition, Majority ownership

ETA Equity

Search fund investor that invests in and supports entrepreneurs seeking to acquire and operate established small businesses through the Entrepreneurship Through Acquisition (ETA) model

Dallas, USA
Founded 2020
Industries B2B Software

Mosaic Software Group

Permanent capital investment firm that acquires and grows B2B software companies. Founded by former enterprise software entrepreneurs who wanted to be 'the buyer that we wish had existed when we were selling our companies – one without any trade-offs.'

San Francisco, USA
Founded 2023
Industries B2B Software
Target ~$1M - $10M ARR
Deal structure Majority ownership, 100% acquisition

Jaan Capital

Operator-led search fund dedicated to acquiring a single small to medium-sized SaaS business. Led by Raj Mahajan, former CEO who acquired, ran, and sold SuperSalon.

Austin, USA
Industries B2B Software
Target ~$5M - $15M ARR
Deal structure All cash, Flexible

LTV SaaS Growth Fund

U.S. investment fund focused on SaaS and software investments in privately held businesses, with over 50 years combined SaaS M&A experience and access to exclusive private acquisition data.

Denver, USA
Founded 2018
Industries B2B Software
Target ~$1M - $50M ARR
Deal structure Flexible

Pantastic Apps

E-commerce platform and acquirer that provides enterprise-grade application tools for independent brands to power their ecommerce operations, including AI-powered personalization, post-purchase offers, and affiliate marketing solutions

Palo Alto, USA
Founded 2020
Industries E-commerce & Payments

Saltwater

Holding company founded by former Uber CEO Ryan Graves, focused on acquiring and operating small, profitable technology businesses through a partner equity model with long-term ownership.

Honolulu, USA
Founded 2017
Industries B2B Software, Tech Services
Deal structure Flexible

Susquehanna Growth Equity

Growth equity investor backed by entrepreneurs (Susquehanna International Group), providing the most flexible capital for software and information services companies with no fixed time horizons.

Philadelphia, USA
Founded 2006
Industries B2B Software, Tech Services
Target ~$5M - $100M ARR
Deal structure Stock + cash, Flexible

Dura Software

Specialists in acquiring and operating hyperniche software products that fit narrow but mission-critical use cases for business customers. They buy software companies from owners looking for a long-term home and operate them with no intention to sell.

San Antonio, USA
Founded 2018
Industries B2B Software
Target ~$2M - $15M ARR
Close time 60 days
Deal structure All cash

CSI Perseus

Operating group of Constellation Software Inc. that acquires vertical market software businesses. Forever acquirer blending global strength of parent company with focus and agility of small, dedicated team to preserve legacies and fuel lasting growth.

Markham, Canada
Founded 1995
Industries B2B Software
Target ~$1M+ ARR
Deal structure All cash

Tiny Capital

Canadian technology holding company that acquires wonderful businesses for the long term. Focuses on internet and technology businesses with a buy-and-hold strategy.

Victoria, Canada
Founded 2006
Industries E-commerce & Payments, B2B Software
Target ~$1M - $50M ARR
Response time 7 days

Alicorn Venture Partners

European venture capital firm specializing in growth-stage frontier technology companies through secondaries and bespoke primary transactions, with strong focus on Israel and UK markets.

London, UK
Founded 2017
Industries B2B Software
Deal structure Stock + cash, Flexible

CVC Groups

Computer Ventures in Canada (CVC) Groups acquires, develops, and boosts IT, Telco, VARs, MSPs, and MSSPs. Self-funded with over $1 billion in transactions and 150+ years of combined board experience.

Toronto, Canada
Industries B2B Software, Tech Services
Close time 90 days
Deal structure All cash, Flexible

Alpine Investors

People-driven private equity firm specializing in software and services businesses undergoing transitions. Known for their CEO-in-Training program and focus on exceptional talent.

San Francisco, USA
Founded 2000
Industries B2B Software
Target ~$1M+ ARR
Deal structure Flexible

Related Categories