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

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

Relay Commerce

E-commerce software holding company that operates & acquires exceptional ecommerce SaaS companies. They buy businesses ready to scale and pair them with their operating team to accelerate growth.

New York, USA
Founded 2021
Industries E-commerce & Payments
Target ~$1M+ ARR
Response time Within 24 hours
Deal structure All cash, Flexible

Tyler Technologies Inc.

Provider of proprietary software to the United States public sector, offering integrated software and technology services for local governments, courts, schools, and other government entities.

Plano, Texas
Founded 1966
Industries B2B Software
Deal structure Stock + cash

Monument MicroCap Partners

Independent private investment firm focused on acquiring companies in the MicroCap Market, targeting businesses with EBITDA of $2-8 million in the United States and Canada. Seeks to partner with management teams to grow and harvest profitable businesses.

Indianapolis, USA
Founded 2018
Industries Tech Services
Deal structure Stock + cash

Performant Capital

Chicago-based lower middle-market private equity firm focused on technology-driven companies with recurring revenue, specializing in software, tech-enabled services, and data intelligence.

Chicago, USA
Founded 2019
Industries B2B Software, Tech Services
Deal structure Flexible

Vertus Group

Rebranded division of Jonas Software and Constellation Software launched in December 2023. Acquires high-performing vertical market software businesses with buy-and-hold forever approach, preserving entrepreneurial culture across 7 distinct verticals.

Toronto, Canada
Founded 2003
Industries B2B Software
Deal structure All cash

TELEO Capital

Lower middle-market private equity firm targeting enterprise software, healthcare IT, and tech-enabled services with focus on empowering management teams to execute business plans.

Los Angeles, USA
Founded 2015
Industries B2B Software, Tech Services
Deal structure Flexible

Scaleworks

Private equity firm that acquires and operates B2B SaaS companies using their 'Venture Equity' model with hands-on operational approach and focus on scaling businesses from $5M-$20M ARR.

San Antonio, USA
Founded 2015
Industries B2B Software
Target ~$1M - $10M ARR
Deal structure All cash

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

Vela Software Group

Subsidiary of Constellation Software that acquires, manages and builds industry-specific software businesses globally. Provides vertical market software expertise, operational support and capital to help businesses grow organically and through acquisitions.

Toronto, Canada
Founded 1995
Industries B2B Software

Arcadea Group

Long-duration investor in typically founder-led vertical software (VSaaS) companies with permanent capital focus. Specializes in high-quality, rapid-growth VSaaS businesses with ultra-long-range potential.

Toronto, Canada
Founded 2020
Industries B2B Software, Tech Services
Target ~$1M - $20M ARR

Vitec Software Group

Leading provider of vertical software solutions that develops and delivers standardized software for various industry niches, growing primarily through acquisitions of well-managed software companies

Umeå, Sweden
Founded 1985
Industries B2B Software

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

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

Threecolts

E-commerce software company that acquires and operates tools for businesses selling on marketplaces like Amazon, Walmart, and eBay. Built through 14+ strategic acquisitions since 2021.

United States
Founded 2021
Industries E-commerce & Payments
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

PartnerOne

Enterprise software conglomerate that acquires and grows enterprise software companies for the long term, focused on companies with proven products and predictable revenue models.

Montreal, Canada
Founded 1995
Industries B2B Software
Close time Under 30 days
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

Staytuned

E-commerce software company building the 'Salesforce suite for e-commerce' by acquiring and developing Shopify apps that drive merchant growth and ROI.

Los Angeles, USA
Founded 2018
Industries E-commerce & Payments
Deal structure All cash

Alpine Software Group

Vertical SaaS acquirer and operator helping industry-specific software businesses become market-leading platforms. Branch of Alpine Investors with 50+ acquisitions since 2016.

Walnut Creek, USA
Founded 2016
Industries B2B Software
Deal structure Flexible

EXA Capital

Strategic operators and investors in growing vertical market software companies. Buy-and-hold forever model focused on preserving founder legacies while enabling growth.

Manchester, USA
Founded 2020
Industries B2B Software

EG A/S

Leading Nordic vertical software company providing industry-specific SaaS solutions across healthcare, construction, public administration, and other vertical markets. Serves over 32,000 customers and has over 2,400 employees primarily in Nordic countries.

Kolding, Denmark
Founded 1988
Industries B2B Software

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

Ramp Ventures

Growth-focused company that invests in and grows SaaS companies through revenue growth consulting, product management, and operational support services

Austin, USA
Founded 2014
Industries B2B Software

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