Bowery Capital: Vertical SaaS at Seed Stage

Our Guest: Patrick McGovern from Bowery Capital, an early-stage venture capital firm focused exclusively on founders looking to modernize business through technology.

Episode Topics:

• Common patterns emerge when seed-stage companies sell into enterprises.
• Pat's insights on investment criteria for early stage vertical SaaS - can you reach $50m in ARR in a short period of time
• Pat's viewpoints on the dynamic of founders who choose verticals that are too narrow in relation to the requirements of raising venture money
• How should vertical SaaS companies evaluate their metrics using compared to broader, horizontal-oriented benchmarks?
• Pat's viewpoint on AI in vertical SaaS
• Bowery Capital's typical check sizes + three types of deals
• Pat's perspective on an ideal founder
• The rationale behind a vertical SaaS founder opting for VC funding instead of bootstrapping

Resources:

https://bowerycap.com/blog

twitter.com/pw_mcgovern

https://bowerycap.com/blog/insights/artificial-intelligence-in-vertical-software-a-map-of-the-market
https://breakingsaas.substack.com/p/vertical-saas-bowery-capital

About Cloud Returns by Cloud Ratings:

Cloud Returns covers ALL types of software investing, whether seed, venture capital, growth equity, private equity, debt, and the public markets.

Our host - Matt Harney - is active on Twitter @saasletter and writes "SaaSletter", an investing-oriented SaaS newsletter on Substack.

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Cloud Ratings is a customer outcomes-focused, data-driven software research analyst firm. We exist to allow organizations to make more confident, lower-risk software purchasing decisions.

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