Maxio Institute B2B Growth Report: November 2024

Including:

Actual billing data through EOQ Q3 2024 from over 2000 companies, representing over $18B in annualized revenue

The state of the B2B private market

Growth rates by pricing model, segmented by company size

Funding analysis based on recency and growth rate

The new “Funding Trifecta”

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Key Takeaways from the Report:

  • Growth is strong but slowing. While private B2B companies are still seeing a healthy average annualized growth rate of 15%, growth rates have declined slightly quarter-over-quarter.
  • The smallest startups are growing the fastest. Companies with less than $1 million in annual revenue continue to gain momentum from their low point in late 2022, growing 23% in Q3 compared to a more modest 12% growth rate for those over $1 million.
  • Gaps in performance based on pricing model are narrowing. As the B2B market begins to slow, differences in growth rates between companies with different characteristics like usage-based and fixed-rate pricing are less pronounced.
  • Investor behavior has changed as capital costs increased. The B2B venture market is producing fewer investments but with larger average dollar sizes at larger average companies.
  • A new “Funding Trifecta” is emerging in B2B. The fastest growing private companies reach at least Series B, raise over $10M, and have raised money within the last three years.

About the Maxio Institute

The Maxio Institute is a research arm of Maxio, the #1 billing and financial operations platform for B2B SaaS businesses. Through our work with over 2,000 subscription businesses, we’re uniquely positioned to provide data-backed insights and benchmarks. Our goal is to help B2B SaaS businesses of all sizes gain an accurate picture of the current market, so they can make informed decisions about their future.

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