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Public Comps and Valuation Multiples for B2B SaaS

Benchmark revenue and EBITDA valuation multiples for public comps like
Alphabet, Microsoft, Oracle, Cisco and Alibaba Group.

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B2B SaaS

Viewing 50 of 1261 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Alphabet	$4.7T	$4.6T	$435B	10.7x	23.6x
Microsoft	$3.1T	$3.1T	$324B	9.5x	15.8x
Oracle	$522B	$641B	$67B	9.6x	17.4x
Cisco	$456B	$470B	$62B	7.6x	19.5x
Alibaba Group	$327B	$318B	$153B	2.1x	18.8x
Palantir	$324B	$316B	$6B	55.3x	99.5x
IBM	$209B	$267B	$69B	3.9x	14.0x
SAP	$200B	$198B	$45B	4.4x	13.9x
Palo Alto Networks	$195B	$191B	$11B	17.5x	56.0x
AppLovin	$160B	$161B	$7B	24.7x	29.6x
CrowdStrike	$157B	$153B	$5B	29.7x	107.4x
Dell	$153B	$173B	$121B	1.4x	13.1x
Salesforce	$147B	$154B	$43B	3.6x	8.8x
Shopify	$131B	$126B	$13B	9.8x	55.4x
S&P Global	$121B	$133B	$16B	8.5x	16.5x
Intuit	$111B	$114B	$21B	5.5x	12.9x
ServiceNow	$105B	$102B	$14B	7.1x	19.3x
Adobe	$103B	$103B	$25B	4.1x	8.6x
Synopsys	$95B	$103B	$8B	12.2x	30.7x
Fortinet	$94B	$91B	$7B	12.6x	34.1x
Cadence Design Systems	$93B	$95B	$6B	16.8x	35.5x
Tata Consultancy Services	$87B	$84B	$29B	2.9x	10.7x
Datadog	$77B	$73B	$4B	19.4x	79.6x
Moody's	$76B	$82B	$8B	10.3x	20.0x
Cloudflare	$73B	$72B	$2B	30.0x	130.4x
Snowflake	$59B	$57B	$5B	11.4x	76.2x
Strategy	$58B	$73B	$486M	149.8x	1891.4x
RELX	$58B	$67B	$13B	5.1x	12.6x
CoreWeave	$54B	$87B	$8B	10.9x	18.6x
Autodesk	$52B	$52B	$7B	6.9x	17.3x
Nebius Group	$50B	$50B	$2B	31.0x	98.6x
Baidu	$48B	$45B	$19B	2.4x	13.0x
IDEXX Laboratories	$43B	$44B	$4B	9.9x	28.0x
Constellation Software	$42B	$45B	$12B	3.6x	12.8x
Celestica	$39B	$39B	$15B	2.6x	29.7x
Paychex	$34B	$37B	$6B	5.7x	12.4x
Roper Technologies	$33B	$43B	$8B	5.3x	13.4x
HCLTech	$33B	$30B	$14B	2.2x	10.5x
Workday	$32B	$31B	$10B	3.1x	9.5x
Dassault Systemes	$30B	$28B	$7B	3.8x	10.8x
Hexagon	$30B	$31B	$6B	5.4x	14.6x
Twilio	$30B	$28B	$5B	5.3x	25.6x
IQVIA	$29B	$43B	$17B	2.6x	11.1x
Wiwynn	$29B	$29B	$34B	0.9x	12.2x
Zoom	$29B	$21B	$5B	4.2x	9.9x
Zscaler	$28B	$27B	$3B	8.3x	31.5x
GE HealthCare	$28B	$36B	$21B	1.7x	9.8x
VeriSign	$28B	$29B	$2B	17.0x	23.0x
Fair Isaac	$28B	$31B	$2B	13.2x	22.4x
MongoDB	$27B	$25B	$3B	9.5x	48.0x
Veeva	$27B		$3B
DCI Indonesia	$27B		—
Amadeus	$26B		$8B
Kuehne + Nagel	$26B		$31B
HiThink	$25B		$969M
NetApp	$24B		$7B
Fidelity Information Services	$22B		$12B
Corpay	$22B		$5B
Aristocrat Leisure	$22B		$4B
Liberty Media	$22B		$5B
Atlassian	$22B		$6B
F5	$22B		$3B
CyberArk Software	$21B		—
Akamai	$21B		$4B
Nextpower	$19B		$4B
Snap-on	$19B		$5B
Kingsoft Office Software	$17B		$925M
iFlytek	$17B		$4B
Broadridge	$17B		$7B
Wolters Kluwer	$17B		$7B
PTC	$17B		$3B
SS&C Technologies	$16B		$6B
DigitalOcean	$16B		$992M
Okta	$15B		$3B
Elm	$15B		$3B
Gen Digital	$15B		$5B
CoStar Group	$14B		$3B
Computershare	$14B		$3B
United Imaging	$14B		$2B
Aurora Innovation	$14B		$8M
CGI	$14B		$12B
Toast	$13B		$7B
CDW	$13B		$23B
Tyler Technologies	$13B		$2B
Rubrik	$13B		$1B
Check Point Software	$13B		$3B
Nutanix	$13B		$3B
Figma	$12B		$1B
GoDaddy	$12B		$5B
Guidewire	$12B		$1B
Dynatrace	$12B		$2B
OBIC	$12B		$860M
Qihoo 360	$12B		$1B
Unity	$11B		$2B
JD Logistics	$11B		$34B
Confluent	$11B		—
CACI International	$11B		$9B
HubSpot	$11B		$3B
Sage	$11B		$4B
Applied Digital	$10B		$400M
AES	$10B		$12B
Indra Sistemas	$10B		$7B
Bentley Systems	$10B		$2B
theTradeDesk	$10B		$3B
Xero	$10B		$2B
Pro Medicus	$10B		$181M
SenseTime Group	$10B		$811M
Zhuzhou CRRC Times	$9B		$4B
WiseTech Global	$9B		$1B
Beijing Compass Technology	$9B		$354M
Ryder	$9B		$13B
Full Truck Alliance	$9B		$2B
ICON plc	$9B		$8B
JFrog	$9B		$571M
GDS Holdings	$8B		$2B
Baosight	$8B		$2B
Glaukos	$8B		$555M
SailPoint	$8B		$1B
Tempus AI	$8B		$1B
FactSet	$8B		$2B
Nemetschek	$8B		$1B
Manhattan Associates	$8B		$1B
Endeavor Group Holdings	$8B		—
Empyrean Technology	$8B		$215M
Nextdc	$8B		$340M
Hundsun	$7B		$863M
solutions by stc	$7B		$3B
Oracle Corp Japan	$7B		$2B
Core Scientific	$7B		$446M
Clearwater Analytics	$7B		$812M
Procore	$7B		$1B
Wangsu	$7B		$717M
InterDigital	$7B		$785M
Geovis	$7B		$451M
Amdocs	$7B		$5B
Paycom	$7B		$2B
Morningstar	$7B		$3B
TechnologyOne	$7B		$453M
Dropbox	$6B		$3B
Paylocity	$6B		$2B
Clear Secure	$6B		$973M
Descartes Systems Group	$6B		$753M
Sinar Mas Multiartha	$6B		—
SentinelOne	$6B		$1B
Enact Holdings	$6B		$1B
Allfunds	$6B		$760M
M3 Inc.	$6B		$2B
ServiceTitan	$6B		$1B
Yonyou Hong Kong	$6B		$1B
Ingram Micro	$6B		$54B
Topicus	$6B		$2B
Computacenter	$6B		$13B
AppFolio	$6B		$1B
EquipmentShare.com	$6B		$5B
Pegasystems	$6B		$2B
Elastic	$6B		$2B
Open Text	$6B		$5B
NICE	$6B		$3B
UiPath	$5B		$2B
Parsons	$5B		$6B
United Internet	$5B		$7B
HopeRun	$5B		$611M
Presight AI	$5B		$902M
Trend Micro	$5B		$2B
Amex GBT	$5B		$3B
WEX	$5B		$3B
Tata Communications	$5B		$3B
State Grid Yingda	$5B		$2B
Navan	$5B		$753M
ThunderSoft	$5B		$1B
Digital China	$5B		$22B
Sinnet Technology	$5B		$1B
Zeta Global	$5B		$1B
Shenzhen Intellifusion	$5B		—
IONOS Group	$5B		$2B
XtalPi	$4B		$127M
OneStream	$4B		—
Shenzhen Fortune Trend	$4B		$59M
Dameng Database	$4B		$213M
CyberAgent	$4B		$6B
Kingsoft Cloud	$4B		$2B
Klaviyo	$4B		$1B
GRG Banking	$4B		$2B
ACI Worldwide	$4B		$2B
GitLab	$4B		$1B
Bicecorp	$4B		—
CommVault Systems	$4B		$1B
Easy Click Worldwide	$4B		$633M
DHC Software	$4B		—
Monday.com	$4B		$1B
Sportradar	$4B		$2B
Stride	$4B		$2B
Wuchan Zhongda Group Co	$4B		—
Shiji Group	$4B		$417M
BILL.com	$4B		$2B
Waystar	$4B		$1B
Kingdee	$4B		$1B
Lumine Group	$4B		$832M
SoundHound	$4B		$193M
BlackBerry	$4B		$560M
TOTVS	$4B		$1B
Business-intelligence	$4B		$429M
Kadant	$4B		$1B
Servyou Software Group	$4B		$325M
Delhivery	$4B		$1B
RingCentral	$4B		$3B
Box	$4B		$1B
Doximity	$4B		$648M
TravelSky	$4B		$1B
Newland Digital Tech	$4B		$1B
Qualys	$4B		$690M
Internet Initiative Japan	$3B		$2B
Bread Financial	$3B		$4B
Varonis Systems	$3B		$666M
Cellebrite	$3B		$511M
TGS	$3B		$2B
NCR Atleos	$3B		$4B
UCloud Technology	$3B		—
East Buy	$3B		$787M
NextNav	$3B		$4M
QiAnXin	$3B		$663M
Pateo Connect Tech	$3B		$630M
Shanghai DZH	$3B		—
Teradata	$3B		$2B
CorVel	$3B		—
Odine	$3B		—
Sinch	$3B		$3B
Biprogy	$3B		$3B
Q2 Holdings	$3B		$827M
Haizhi	$3B		$106M
Privia Health	$3B		$2B
Adeia	$3B		$433M
Venustech Group	$3B		$359M
Innodata	$3B		$292M
Mobvista	$3B		$2B
VNET Group	$3B		$2B
Tata Technologies	$3B		$593M
Beijing Ultrapower	$3B		$875M
Kinaxis	$3B		$581M
NetScout Systems	$3B		$865M
Tenable	$3B		$1B
AJ Bell	$3B		$454M
Tieto	$3B		$2B
CCC Intelligent Solutions	$3B		$1B
Xiamen Xiangyu Co	$3B		$62B
Uniti Group	$3B		$3B
Fastly	$3B		$660M
Calix	$3B		$1B
Glodon Co	$3B		$900M
Freshworks	$3B		$886M
TRS Information Technology	$3B		$76M
Alibaba Pictures Group	$2B		$1B
Nayax	$2B		$444M
Longshine Technology	$2B		$704M
Braze	$2B		$783M
CAF	$2B		$5B
Lufax Holding	$2B		$4B
Diebold Nixdorf	$2B		$4B
Vusion	$2B		$2B
Beijing Jetsen Technology	$2B		—
WeRide	$2B		$121M
Infleqtion	$2B		$36M
CSG Systems	$2B		$1B
Aisino	$2B		—
LiveRamp	$2B		$823M
Douzone Bizon	$2B		$317M
SoftwareOne	$2B		$2B
CloudWalk	$2B		—
Wix.com	$2B		$2B
Transwarp	$2B		$69M
Agilysys	$2B		$326M
Netweb Technologies India	$2B		$258M
Transfar Zhilian Co	$2B		$4B
AvePoint	$2B		$455M
Xinhua Winshare	$2B		$2B
Banner	$2B		$692M
Harbin Boshi Automation	$2B		$426M
Vertex	$2B		$779M
Affle 3i	$2B		$292M
OVHcloud	$2B		$1B
KPIT Technologies	$2B		$689M
Shawbrook Group	$2B		$968M
Wasu Media Holding	$2B		—
SureKAM Corporation	$2B		$1B
A10 Networks	$2B		$304M
iFAST Corp	$2B		$438M
Computer Age Management Services	$2B		$162M
Shanghai Suochen	$2B		$79M
Shenzhen Kingdom Sci-tech	$2B		$361M
Omnicell	$2B		$1B
CETC Cyberspace Security	$2B		—
Wondershare	$2B		$235M
Yusys Technologies	$2B		$549M
Richinfo Technology	$2B		$286M
SPS Commerce	$2B		$769M
Magnite	$2B		$699M
Hamburger Hafen	$2B		—
Ygsoft	$2B		$393M
Alef Education	$2B		$216M
Weaver Network	$2B		$345M
BigBear.ai	$2B		$134M
SEMrush	$2B		$444M
Alkami Technology	$2B		$477M
EverCommerce	$2B		$602M
PDF Solutions	$2B		$236M
HBX Group	$2B		$831M
BlackLine	$2B		$726M
Ireader	$2B		—
PCITECH	$2B		$2B
Jamf	$2B		—
Qingdao Baheal Medical	$2B		$1B
Bandwidth	$2B		$806M
Five9	$2B		$1B
Digiwin	$2B		$366M
DPtech	$2B		$186M
Proto Labs	$2B		$548M
MyEG	$2B		$355M
Beijing Topnew Info	$2B		—
Megaport	$2B		$213M
Ncino	$2B		$609M
Hilan	$2B		—
GuoChuang Software	$2B		—
Appian	$2B		$765M
Neusoft	$2B		$2B
Clarivate	$2B		$2B
Intapp	$2B		$567M
Asana	$2B		$810M
Money Forward	$2B		$339M
Justsystems	$2B		$325M
Opera	$2B		$662M
Zwsoft	$2B		$138M
Taboola	$2B		$2B
PEXA Group	$2B		$286M
Grupo Assa	$2B		—
Abaxx Technologies	$1B		—
Sphere	$1B		—
Marketingforce Management	$1B		$474M
DoubleVerify	$1B		$775M
Youdao	$1B		$900M
Blackbaud	$1B		$1B
Secunet	$1B		$548M
Imdex	$1B		$357M
Karooooo	$1B		$345M
eFinance	$1B		—
Net263	$1B		—
Shenzhen Sunline	$1B		$303M
Planisware	$1B		$241M
LES Info	$1B		$200M
Playtech	$1B		$898M
Harmonic	$1B		$410M
ATOSS Software	$1B		$234M
Sprinklr	$1B		$861M
GigaCloud Technology	$1B		$1B
Beijing eGova	$1B		—
C3.ai	$1B		$249M
Indegene	$1B		$380M
Optasia	$1B		—
Sumavision	$1B		—
74Software	$1B		$842M
JSTI	$1B		$602M
MBB	$1B		$1B
Progress Software	$1B		$985M
Montnets	$1B		—
Aeva	$1B		$24M
Radware	$1B		$312M
Lightspeed Commerce	$1B		$1B
Rackspace	$1B		$3B
Ucap Cloud Information	$1B		—
Vitec Software	$1B		$410M
Arcs Co	$1B		$4B
Sify Technologies	$1B		$701M
Center	$1B		$262M
Sansan	$1B		$337M
Altus Group	$1B		$353M
Fujian Boss Software	$1B		$294M
Anterix	$1B		$6M
Jiangsu Tongxingbao	$1B		—
Foxit Software	$1B		$170M
LegalZoom	$1B		$781M
Beijing CTJ Info Tech	$1B		$125M
Guotai Epoint Sofware	$1B		$268M
Qiming Information	$1B		—
Linewell Software	$1B		—
Porch Group	$1B		$450M
Deluxe	$1B		$2B
Telekom Slovenije	$1B		—
Asiainfo Security	$1B		$1B
Pagaya	$1B		$1B
Smarter Microelectronics	$1B		$129M
Jiuyuan Yinhai	$1B		$183M
Sinodata	$1B		—
Fujian Apex Software	$1B		$89M
Wiit	$1B		$199M
Saga	$1B		$951M
Teamviewer	$1B		$903M
B-Soft Co.	$986M		$161M
SMS	$985M		$410M
Beijing Join-Cheer	$981M		—
Global Infotech	$978M		—
Rezolve AI	$969M		$164M
Donnelley Financial Solutions	$957M		$771M
Systena	$956M		$595M
U.S. Physical Therapy	$938M		$803M
Quantgroup Holding	$931M		—
Vobile	$915M		$396M
Amagi Media Labs	$914M		$159M
McMillan Shakespeare	$904M		$413M
Sunyard Technology	$900M		—
Pexip	$898M		$128M
Schrödinger	$896M		$248M
NCR Voyix	$893M		$3B
NSFOCUS	$890M		$390M
e-Hualu	$881M		—
Lunit	$880M		$57M
Magic Software	$866M		—
Criteo	$861M		$1B
CANCOM	$854M		$2B
Duolun Technology	$852M		—
Freee	$850M		$259M
Abacus Global Management	$848M		$250M
Amplitude	$843M		$365M
Inspur	$838M		—
PSI Software	$834M		$344M
63 Moons	$834M		—
Asseco Business Solutions	$830M		$136M
Tinexta	$822M		$537M
PHC Holdings	$792M		$2B
RPMGlobal	$780M		$64M
Ibotta	$777M		$343M
IRESS	$774M		$388M
Qt Group	$769M		$262M
Weimob	$755M		$244M
New Trend International Logis-Tech	$749M		—
cyber_Folks	$745M		$243M
Spire Global	$741M		$75M
Datagroup	$741M		$644M
MedicalSystem Technology	$739M		$49M
SAKURA Internet	$738M		$232M
Beijing VRV Software	$738M		—
Sansec	$735M		$87M
Shenzhen Sunwin	$734M		—
Vercom	$728M		$136M
Bravura Solutions	$727M		$196M
Cognyte Software	$726M		$414M
Tanla Platforms	$718M		$427M
AsiaInfo	$714M		$942M
Hansen Technologies	$714M		$284M
HealthStream	$714M		$313M
Cybozu	$713M		$253M
Lectra	$709M		$582M
Red Violet	$706M		$96M
Yidu Tech	$706M		—
Brilliance Technology	$699M		—
RaySearch Labs	$697M		$151M
Addnode Group	$693M		$648M
Riskified	$691M		$358M
TomTom	$690M		$648M
Information Services Corporation	$689M		$193M
ODDITY Tech	$688M		$761M
Shang Gong Group	$688M		—
Hanwang Technology Co	$683M		—
GB Group	$683M		$384M
Clobot	$682M		—
Newgen Software Technologies	$677M		$168M
N-able	$676M		$529M
Enghouse Systems	$673M		$359M
Infomart	$671M		$127M
THG	$671M		$2B
Mensch und Maschine	$667M		$285M
Intralot	$665M		$1B
Star Micronics	$659M		$487M
E2E Networks	$659M		$31M
Auction Technology Group	$653M		$227M
Craneware	$648M		$224M
Equasens	$648M		$283M
FINEOS	$648M		$167M
Client Service International	$647M		—
Appier Group	$646M		$307M
HCR Co	$641M		—
Plus Alpha Consulting	$639M		$117M
ZUKEN	$633M		$273M
ExaWizards	$632M		$78M
Forge Global	$623M		—
Alfa Financial Software	$623M		$173M
Sabre	$617M		$3B
Septeni Holdings	$614M		$199M
INIT SE	$612M		$410M
Rank Group	$609M		$1B
PAR Technology	$607M		$476M
Baida Group Co	$604M		—
Vtex	$602M		$252M
Zhejiang Netsun	$598M		—
MNTN	$597M		$314M
Nagarro	$595M		$1B
Guiyang Longmaster	$592M		—
KSEC Intelligent Technooogy	$589M		—
Edarat Group	$577M		—
Broadleaf	$575M		$129M
Tsuburaya Fields Holdings	$574M		$1B
EVS Broadcast Equipment	$573M		$255M
Phreesia	$566M		$491M
WingArc1st	$564M		$199M
SiteMinder	$562M		$189M
Happiest Minds Technologies	$562M		$246M
Datasection	$560M		$212M
PKSHA Technology	$551M		$197M
Napatech	$550M		$28M
CE Info Systems	$550M		$55M
Heren Health	$537M		—
Ooma	$536M		$288M
Shanghai Wondertek	$533M		—
AMTD Digital	$531M		—
PagerDuty	$528M		$493M
Cerillion	$528M		$67M
Julong Holding	$527M		—
Ropeok Technology Group	$525M		—
Perfect Presentation	$521M		—
GPI Group	$518M		$648M
NCC Group	$516M		$388M
Consensus Cloud	$508M		$352M
Ming Yuan Cloud Group	$508M		$185M
Netcad	$506M		—
Veradigm	$506M		$586M
Digital Turbine	$500M		$565M
Mia Teknoloji	$499M		—
Hightech Payment Systems	$499M		$172M
Itsec Asia	$491M		$39M
Echo IQ	$488M		$511K
Huitongda Network	$488M		$8B
Beijing Hanyi Innovation	$481M		—
Wirtualna Polska	$478M		$626M
Chrysos Corp.	$476M		$61M
Quadient	$472M		$1B
Ribbon Communications	$469M		$842M
PubMatic	$467M		$287M
Rapid7	$465M		$852M
Nexxen	$464M		$367M
OneSpan	$463M		$244M
Weave Communications	$461M		$254M
Homag Group	$457M		—
Datamatics Global Services	$453M		—
Backblaze	$450M		$152M
Baudroie	$447M		$118M
Perfect Group Corp	$446M		$239M
MediaAlpha	$445M		$1B
Docebo	$442M		$253M
IDOX	$439M		$128M
Kambi Group	$438M		$192M
BTQ Technologies	$435M		$2M
Perion Network	$431M		$453M
Medley Inc.	$427M		$260M
Qibu	$425M		—
Beijing Seeyon Internet	$425M		—
Fukui Computer Group	$424M		$106M
Aurionpro Solutions	$420M		$152M
Moschip Technologies	$419M		—
Juhe Data	$416M		—
Cerence	$415M		$292M
Pinewood Technologies	$414M		$63M
Locaweb	$410M		$301M
Sprout Social	$404M		$472M
Gloo	$403M		$122M
Medical Data Vision	$400M		$42M
eMudhra	$396M		$77M
IVU Traffic Technologies	$388M		$177M
Kolon Plastics	$388M		—
AHNLAB	$386M		—
F-Secure	$375M		$175M
Kinx	$373M		—
i3 Verticals	$372M		$220M
GrocerIQ	$372M		—
Inspur Digital Enterprise	$370M		$1B
Tecsys	$370M		$140M
Digital Arts	$368M		$73M
Allot	$366M		$107M
Real Brokerage	$365M		$2B
Yext	$360M		$449M
Cafe24	$359M		—
Blend Labs	$358M		$127M
TechTarget	$358M		$491M
D2L	$356M		$222M
Kneat	$350M		$50M
WithSecure	$350M		—
Software Service	$349M		$275M
Smart Eye	$346M		$56M
Proact IT Group	$346M		$529M
ON24	$341M		—
Baiwang Cloud	$340M		—
Route Mobile	$340M		$468M
Verve Group	$339M		$710M
Miroku Jyoho Service	$337M		$310M
8x8	$336M		$736M
Tasuki Holdings	$336M		—
Automated Bank Services	$335M		—
Unit	$334M		—
Echo Marketing	$332M		—
Telos	$329M		$176M
Vitalhub	$329M		$85M
Leonteq	$328M		$248M
Seeing Machines	$327M		$83M
Materialise	$325M		$318M
Agora	$325M		$147M
Logo Yazılım	$323M		$150M
Similarweb	$322M		$293M
Hanyang Eng	$322M		—
Pollard Banknote	$320M		$444M
Lime Technologies	$318M		$84M
Fixstars	$318M		$62M
Crexendo	$315M		$80M
Ainsworth Game Technology	$314M		$205M
SmartCraft	$313M		$60M
Silvaco Group	$310M		$67M
Shoper	$309M		$62M
Zaggle Prepaid Ocean	$308M		$209M
Energy One	$307M		$50M
Forward Industries	$304M		$45M
Hancom	$303M		$239M
Coveo Solutions	$303M		$151M
m-up holdings	$303M		$201M
Alpha Systems	$292M		$260M
Text SA	$288M		$90M
Netcall	$286M		$76M
Simulations Plus	$285M		$81M
Palladyne AI	$281M		$13M
Gentrack Group	$280M		$133M
Vista Group	$280M		$101M
Vrain Solution	$279M		$23M
GABIA	$276M		—
Claritev	$276M		$975M
Wabash National	$275M		$2B
Valid	$275M		—
Sidetrade	$272M		$75M
Squirrel Media	$268M		$325M
Note Inc.	$268M		$26M
Softcreate Holdings	$268M		$218M
A2Z Cust2Mate	$265M		$15M
Hitit	$264M		$44M
CM.com	$263M		$311M
Avant Group	$263M		$197M
Safie	$260M		$133M
Streamwide	$255M		$32M
PhilWeb	$252M		—
Polaris Holdings	$250M		$312M
Ascom	$250M		$376M
Asure Software	$248M		$148M
Duos Technologies	$242M		$35M
Qoria	$242M		$98M
Radcom	$240M		$74M
Systems Engineering	$240M		$71M
Vecima Networks	$237M		$213M
Kernex Microsystems	$236M		—
CS Disco	$236M		$164M
Value HR	$233M		$66M
eVISO	$232M		$379M
Nordhealth	$232M		$62M
Protean eGov Technologies	$231M		$99M
EM Systems Co.	$231M		$152M
Linedata Services	$230M		$202M
Praemium	$229M		$78M
Spok	$229M		$140M
Appen	$229M		$249M
Suresofttech	$229M		—
Kaltura	$228M		$182M
Network People Services	$226M		—
Jiayin Group	$226M		—
Etteplan	$224M		$425M
Computer Modelling Group	$223M		$92M
SmartRent	$222M		$146M
Expert.ai	$220M		$50M
Voicecomm Technology	$220M		—
Hyundai Futurenet	$219M		—
Hennge	$219M		$71M
Viant	$219M		$227M
Cint Group	$218M		$177M
Cy4gate	$217M		$120M
DUG Technology	$215M		$83M
Unisys	$214M		$2B
Digimarc	$211M		$32M
WildBrain	$211M		$211M
Kusurinomadoguchi	$208M		$79M
Datawalk	$207M		—
MTI Ltd.	$207M		$192M
Redwood AI	$207M		—
ActiveOps	$206M		$60M
Meridian	$205M		$131M
AnyMind Group	$202M		$421M
FreeBit	$202M		$390M
oRo Co.	$202M		$56M
Profile Software	$201M		—
Brightcom Group	$200M		—
Southern Cross Austereo	$197M		$1B
dotDigital Group	$195M		$122M
Emro	$194M		$57M
Inspired Entertainment	$193M		$287M
Densan System Holdings Co	$192M		$442M
TON Strategy	$192M		$13M
eGain	$192M		$90M
eWeLL	$192M		$24M
BASE	$191M		$150M
Selvas AI	$191M		—
Arqit Quantum	$190M		$530K
cBrain	$189M		$41M
Asteria	$186M		$21M
WALLIX	$182M		$51M
Msg Life	$181M		—
Veritone	$179M		$112M
ReposiTrak	$179M		$23M
i-mobile Co.	$178M		$146M
Ever Fortune.AI	$178M		—
Startia Holdings	$178M		$151M
Fan Communications	$177M		$46M
Admicom	$174M		$45M
Enea	$174M		$100M
Accelya Solutions India	$174M		—
CE Holdings	$174M		$103M
User Local	$173M		$31M
Hibino	$173M		$430M
Carasent	$171M		$40M
Coocon	$171M		$48M
Acusensus	$169M		$58M
Perfect Corp.	$169M		$72M
Abeja	$169M		$24M
WonderFi	$167M		—
Domo	$165M		$319M
Tucows	$165M		$390M
Eagle Eye	$164M		$61M
CyberLink	$162M		$80M
HYBRID Software Group	$161M		$70M
51 Talk	$161M		—
Aptitude Software	$160M		$91M
Daea Ti	$160M		—
Tribal Group	$158M		$124M
DHI Group	$158M		$127M
Ateme	$158M		$114M
Thryv	$157M		$724M
TerraSky	$157M		$184M
Kanamic Network	$155M		$38M
Cheetah Mobile	$155M		$167M
Fortifai	$154M		—
Kudan	$154M		$8M
Saltlux	$154M		—
SSH Communications Security	$153M		$26M
I-Scream Media	$153M		—
Adisyn	$153M		—
Tecnotree	$153M		—
PCA Corp.	$152M		$108M
Magellanic Cloud	$152M		—
Intelligent Wave	$152M		$106M
wrkr	$150M		$10M
DHH	$150M		$52M
Performance Technologies	$149M		$113M
Amiya	$148M		$39M
Roadzen	$147M		$59M
Eleco	$146M		$53M
Azerion Group	$145M		—
Net Insight	$145M		$58M
Turn Cloud Technology	$144M		—
Tracsis	$144M		$111M
Fabasoft	$143M		$104M
Infinitt Healthcare	$143M		—
Gogolook	$142M		—
Airdoc	$142M		$25M
Beeks Group	$141M		$53M
Plaid	$141M		$114M
Briox	$140M		—
CSU Digital	$140M		—
Dye & Durham	$139M		$296M
Ivalue Infosolutions	$139M		$111M
eCloudvalley Digital Tech	$139M		—
Micro Systemation	$139M		—
MotorK	$139M		$52M
NeoJapan	$138M		$52M
SaverOne	$138M		—
Serviceware	$135M		$143M
Toyokumo	$135M		$32M
Platform Group	$135M		$964M
Konan Technology	$131M		—
Aeternal Mentis	$131M		—
Polaris Office	$131M		—
NextNRG	$130M		$91M
RM plc	$130M		$217M
Brand Engagement Network	$130M		—
Solvvy	$129M		$48M
Eva Live	$128M		—
E&M Computing	$128M		—
Brave Bison Group	$127M		$54M
Sangoma	$123M		$208M
Link Bilgisayar	$123M		—
Team Internet	$121M		$272M
Nano X Imaging	$120M		$20M
MNC Financial Services	$120M		—
Dekuple	$120M		$289M
AtaTP	$120M		—
Haivision Systems	$120M		$103M
ReadyTech	$120M		$88M
TTEC	$119M		$2B
Easou	$118M		—
1Spatial	$117M		—
OpenWork	$116M		$30M
Bharat Global Developers	$115M		—
accesso	$114M		$152M
Formpipe Software	$114M		$32M
Arbe Robotics	$114M		$2M
Findex	$113M		$39M
JIG-SAW	$113M		$23M
Teads Holding	$113M		$1B
eBASE	$112M		$33M
Qiniu Cloud	$111M		$257M
GrandTech Cloud Services	$110M		—
Expensify	$109M		$140M
MicroAd	$109M		$101M
EROAD	$109M		$116M
Digital Hearts Holdings	$109M		$249M
Fonet	$108M		—
PodcastOne	$108M		$63M
Elements	$106M		—
CyCraft Technology	$106M		—
Alcidion Group	$106M		$33M
Toku	$105M		$37M
Cyber Security Cloud	$105M		$35M
Pluszero	$104M		$11M
Advenica	$104M		$23M
Synchronoss	$104M		—
NameSilo	$103M		—
Serko	$102M		$70M
Logory	$101M		—
Rekor	$101M		$51M
Oneview Healthcare	$101M		$15M
Lemonsoft	$100M		$35M
Spectra Systems	$100M		—
Kingwaytek Technology	$99M		—
CSP Inc.	$98M		—
Xp Industrial FII	$98M		—
Unicommerce	$98M		$22M
comScore	$97M		$358M
WISeKey	$97M		$24M
Susmed	$96M		$5M
CareCloud	$93M		$125M
Definitive Healthcare	$92M		$235M
AutoCount	$91M		—
Veefin	$91M		—
Genesys International	$91M		—
OptimizeRx	$91M		$105M
AudioEye	$91M		$42M
TAC Infosec	$90M		—
Unirita	$90M		$78M
DocCheck	$89M		—
Xuan Wu Cloud	$89M		—
Arab Sea	$88M		—
Rank One Computing	$88M		$20M
SoundThinking	$88M		$106M
Laboro AI	$87M		$12M
RS2	$87M		—
JLK	$86M		—
KT Nasmedia	$86M		$82M
Cloud Technologies S.A.	$85M		—
Omda	$84M		$54M
Loihde	$84M		$170M
Wins Technet	$84M		—
Intercede Group	$84M		$24M
AEye	$83M		$2M
Lucas GC	$83M		—
InfraCom Group	$82M		$89M
HighCo	$81M		$128M
Gambling.com Group	$81M		$165M
Innovana Thinklabs	$81M		—
Fluent	$81M		$209M
Corero Network Security	$81M		$27M
Credit Clear	$81M		$40M
Making Science	$81M		$468M
Airship AI	$80M		$20M
WiseNut	$79M		—
Kubell	$79M		$62M
Stem	$77M		$158M
ad pepper media	$76M		$76M
RSUPPORT	$76M		—
Made Tech	$76M		$77M
Aiforia	$76M		$5M
Bilendi	$76M		$108M
Razor Labs	$75M		—
Autocrypt	$74M		—
Heroz	$74M		$40M
Geniee	$74M		$87M
Marchex	$74M		$45M
Enechange	$73M		$42M
C2C Advanced Systems	$73M		—
Pulsar Group	$73M		$84M
Done.ai Group	$73M		—
Coheris	$73M		—
Vinyl Group	$72M		—
Research Solutions	$72M		$48M
Oxford Metrics	$71M		$64M
Adtraction Group	$70M		$133M
Exasol	$70M		$48M
Adways	$69M		$79M
ezCaretech	$69M		—
Seresco	$69M		—
Pangaea Oncology	$69M		—
BIMobject	$68M		—
ValueCommerce	$68M		$130M
Forian	$68M		—
Facephi Biometria	$67M		$46M
Railtown AI Technologies	$67M		—
WebCash	$67M		$51M
Audius	$67M		$134M
Newen AI	$66M		—
Health In Tech	$66M		$39M
IODM	$66M		—
Maum AI	$66M		—
Microlise	$65M		$92M
IZEA Worldwide	$65M		$31M
SpiderPlus	$64M		$32M
Investor.bg	$64M		—
Argo	$64M		—
Thinkific Labs	$64M		$74M
Skillsoft	$62M		$510M
CreateAI Holdings	$62M		—
Unerry	$61M		$31M
LGMS	$61M		$12M
Neogrid	$60M		—
Link-U Group	$59M		$33M
Ailleron	$59M		$162M
Orchestra Holdings	$59M		$103M
Netbay	$59M		$23M
Doxee	$58M		$38M
tripla	$58M		$20M
Claranova	$57M		$118M
Sylogist	$56M		$45M
Agile Content	$56M		—
SMAIO	$56M		$12M
FreeCast	$56M		—
Insung Information	$56M		—
Adveritas	$56M		$8M
Alarum Group	$55M		—
PharmX Technologies	$54M		—
Revu Corporation	$54M		—
Cyberoo	$54M		—
Lesi Group	$54M		—
Upsales	$53M		$17M
Generic Sweden	$53M		$21M
Cyan	$52M		$12M
Data Horizon	$52M		—
Cheche Group	$51M		$442M
StrongPoint	$51M		$147M
GetBusy	$51M		$30M
Creactives Group	$51M		$10M
111	$51M		—
Valtes Holdings	$50M		$76M
MeVis	$50M		—
Opter	$50M		—
IFIRMA	$49M		—
Fast Accounting co	$49M		$17M
Stakk	$49M		—
Elliptic Laboratories	$49M		$12M
ViewBix	$49M		—
Sentinel Holdings	$48M		—
PCI Pal	$48M		$32M
EQ Inc.	$48M		—
Mach7 Technologies	$48M		$19M
FLOWSPARKS	$48M		—
NETSOL Technologies	$48M		—
BIT Computer	$47M		—
Jig.jp	$47M		$92M
Tamtron Group	$46M		$66M
SOFTMAX	$46M		$45M
Deepnoid	$46M		—
Galaxy Gaming	$46M		—
Mentice	$45M		$32M
Succeed Co	$45M		$27M
AmeriTrust	$44M		$3M
Gigas Hosting	$44M		—
Aether Holdings	$44M		$3M
Celebrus	$44M		$24M
Minehub Technologies	$42M		—
OTRS	$42M		—
Helport AI	$42M		—
Rocket Doctor AI	$42M		$2M
TradeDoubler	$42M		$248M
Vanfund Urban Investment	$41M		—
Trident Techlabs	$41M		—
Vertoz	$40M		—
EUDA Health	$39M		—
Techstep	$39M		—
Integrated Research	$39M		$43M
ABS-CBN	$38M		—
Checkit	$38M		$19M
Black Pearl Group	$38M		—
Zoomd	$37M		$57M
Change Financial	$37M		$18M
Urbanise	$37M		$9M
LSI Software	$37M		—
Satsuma Technology	$37M		—
Artist Co	$36M		—
Maps	$36M		$38M
learnd	$36M		—
Reckon	$36M		$45M
Latch	$35M		—
SecuLetter Co	$35M		—
Growens	$35M		$90M
Cardlytics	$34M		$202M
Doctor Care Anywhere	$34M		$55M
Broadpeak	$34M		$53M
Datrix	$34M		$15M
ISPD Network	$33M		$172M
Avilen	$33M		$11M
Iomart Group	$33M		$207M
Prologue	$33M		$57M
All About	$33M		$98M
Wiseway Group	$33M		—
Cirata	$32M		$12M
Softing	$32M		$101M
Terranet	$31M		—
Nord Insuretech Group	$31M		—
Holaluz	$31M		—
Veea	$30M		—
Carelabs	$30M		—
Intellinetics	$30M		$17M
Netgem	$30M		$37M
Substrate Artificial	$30M		—
RESAAS	$29M		—
Mobiquity Technologies	$29M		—
Jinxin Technology Holding Co.	$29M		—
Beamr	$29M		$3M
Lighton	$28M		$3M
Diginex	$28M		—
XBP Europe	$28M		$799M
ContextVision	$28M		$12M
CHieru Co	$28M		$64M
Binero Group	$28M		$57M
Aware	$27M		—
YXT.com	$27M		—
Yoc	$27M		$45M
Crunchfish	$27M		$609K
Neovici	$27M		—
M4B S.A.	$26M		—
Firefly Neuroscience	$26M		—
Prelude	$26M		—
JiaChen Holding Group	$25M		—
Keyware	$25M		—
AVM Software	$25M		$25M
Insig AI	$25M		—
Litium	$25M		$10M
Intershop Communications	$25M		$38M
Vianet	$24M		$19M
LivePerson	$24M		$227M
Everlert	$24M		—
Glad Cube	$24M		$11M
Scrypt	$24M		—
LeadDesk	$24M		$46M
NamSys	$23M		—
CodeMill	$23M		—
System1	$23M		$266M
RareJob	$23M		$60M
Teneo AI	$23M		—
Janison	$23M		$33M
InfoBank	$23M		—
Aijinet	$22M		—
Bambuser	$22M		—
TradeWindow	$22M		—
Upland Software	$22M		$210M
Metacare	$21M		—
Dubber	$21M		—
CStore	$21M		—
Cambridge Cognition	$21M		$14M
archTIS	$21M		$4M
Beamtree	$21M		$21M
Verify Smart	$21M		—
CareView Communications	$20M		—
PaySauce	$20M		—
Racing and Sports	$20M		$20M
NetClass Technology	$20M		—
MedApp	$20M		—
Duiba Group	$20M		—
HUI	$20M		—
EBM Technologies	$19M		—
MRSO	$19M		$7M
CurveBeam AI	$19M		$8M
Youxin Technology	$19M		—
Greater Than	$19M		—
Vincit	$19M		$78M
SysGroup	$19M		$30M
Verimatrix	$18M		$36M
AuthID	$18M		—
Tick Trading Software	$18M		—
$Infracommerce logo$ Infracommerce	$18M		—
Konsolidator	$18M		—
MIND C.T.I.	$18M		—
Hatena Co	$18M		$26M
iCetana	$18M		—
Signpost	$17M		—
Huddlestock	$17M		—
Felix.net	$17M		$5M
Garin AI	$17M		—
Aerometrex	$17M		$16M
Pointerra	$17M		$7M
Netum Group	$17M		—
TextMagic	$17M		—
Obiz	$17M		$152M
Emova Group	$16M		—
NextPlat	$16M		—
Swvl	$16M		—
Safeture	$16M		$7M
123Fahrschule	$16M		$31M
B+S Banksysteme	$15M		$15M
Shape Robotics	$15M		—
OODA AI	$15M		—
California Software Co	$15M		—
Welby	$15M		$4M
essensys	$15M		$26M
ZeroQ	$14M		—
Zoo Digital Group	$14M		$42M
Physitrack	$13M		$16M
Nowonomics	$13M		—
Klimator	$13M		—
NIX	$13M		$29M
Xref	$13M		—
Asgent	$13M		$22M
i2S Corp	$13M		—
Nuvini	$13M		—
Shearwater Group	$12M		—
Agillic	$12M		—
Sharing Innovations	$12M		$29M
Urgently	$12M		$139M
NARF Industries	$12M		—
eEducation Albert	$12M		$17M
VOGO	$12M		$13M
AdUX	$12M		$28M
Mobio Technologies	$12M		—
Bridgeline Digital	$12M		$15M
Witbe	$11M		—
Coel	$11M		—
Triboo	$11M		$63M
MKB Nedsense	$11M		—
Connexion Mobility	$11M		—
Blackbird	$11M		—
Quantum Software	$11M		—
One-On-One Educational	$11M		—
ReAlpha Tech	$11M		$8M
Neosperience	$11M		—
NRGene	$10M		—
Avoca	$10M		—
Vidavo	$10M		—
Amido	$10M		—
Papago	$10M		—
ZeroStack	$10M		$36M
Ayfie International	$10M		—
VERSES AI	$10M		—
Solutiance	$9M		—
Aspen Group	$9M		—
Digitree Group	$9M		—
Baseig	$9M		—
Dataworks Group	$9M		—
Raketech Group Holding	$9M		$30M
Zenvia	$9M		—
GVA Tech	$9M		—
visumo	$9M		$6M
ACpay Co	$9M		—
Epic	$9M		—
Sabio Holdings	$9M		—
Acceleware	$8M		—
Media Lab	$8M		—
Unith	$8M		—
FirstWave	$8M		—
Pheton Holdings	$7M		—
Synthetic MR	$7M		$6M
VSee Health	$7M		—
XIAO-I	$7M		—
Bridge Solutions Hub	$7M		—
AMA Corp	$7M		—
Induct	$7M		—
SpectrumOne	$7M		—
BrightBid Group	$7M		—
Flowscape Technology	$7M		—
ChargePanel	$7M		—
Wishpond	$7M		$11M
Track Group	$7M		—
Yoshi Innovation	$6M		—
Planet B2B	$6M		—
Catenai	$6M		—
Janosch film & medien	$6M		—
KLDiscovery	$6M		—
Silver Bullet Data	$6M		—
Dillistone Group	$5M		$5M
FiscalNote	$5M		$90M
C Channel	$5M		—
Feedback	$5M		$1M
Solution Dynamics	$5M		—
Brainscan	$5M		—
Kontigo Care	$5M		—
Adverty	$5M		—
Compodium International	$5M		—
Binect	$5M		$26M
Prophecy International	$5M		—
Thinc Collective	$5M		—
Medondo Holding	$4M		—
Tourn International	$4M		—
Comintelli	$4M		—
TenderHut	$4M		—
Anonymous Intelligence	$4M		—
Cykel AI	$4M		—
Acteos	$4M		—
Baiya International Group	$3M		—
Aino Health	$3M		—
Nexity Global	$3M		—
8Common	$3M		—
Deltagen	$3M		—
Direct Digital Holdings	$3M		$35M
Telemedycyna Polska	$3M		—
Monsenso	$3M		—
Performance One	$3M		$13M
Transiro Holding	$2M		—
3 E Network	$2M		—
Foothills	$2M		—
1933 Industries	$2M		—
Fr8Tech	$2M		—
Castrico	$2M		—
Milisystem	$2M		—
Alternate Health	$2M		—
ECC Games	$1M		—
ImagineAR	$1M		—
Emplocity	$1M		—
Generationis AI	$1M		—
Volaria AI	$871K		—
Sociallite US	$742K		—
Premier Health Of America	$606K		$75M
PMI Group	$519K		—
Clarent	$492K		—
Brain+	$461K		—
IZON Network	$370K		—
Pengram	$332K		—
Quarticon	$292K		—
Diamond Holdings	$281K		—
Urbanimmersive	$217K		—
Vado Corp.	$201K		—
Medies	$201K		—
Hub Cyber Security	$169K		—
Exela Technologies	$122K		—
Rivulet Entertainment	$67K		—
Wally World Media	$66K		—
Rainmaker Systems	$42K		—
Star8	$26K		—
Voxtur Analytics	$23K		—
ManifestSeven Holdings	$15K		—
Semantix	$8K		—
Appreciate Holdings	$5K		—
Broke Out	$3K		—
Accelerated Technologies	$1K		—
Harrison Global Holdings	$1K		—
Infomedia	—		$95M
PressLogic	—		—
AMCG Co	—		—
Pros Holdings	—		—
Acesis Holdings	—		—
Relm Holdings	—		—
Quorum Info Tech	—		—
Sapiens	—		—
ADEC Innovations	—		—
Octave Intelligence	—		—
Adheris Health	—		—
Immersed	—		—
Zeals Co	—		—