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Latest / The Official SaaStr Podcast: SaaS | Founders | Investors

VC Funding in the AI Era: What’s Actually Getting Funded in 2025 and Why Your B2B Startup Might Be Left Behind with Jason Lemkin

The VC fundraising landscape has completely transformed in the last 18 months, and most founders still don’t realize just how dramatically the rules have changed.

After analyzing 1,000 VC pitch decks and calculating 400,000+ startup valuations on SaaStr.ai, and having countless conversations with both sides of the table, the data is unambiguous: traditional paths to venture funding have essentially closed for the majority of B2B companies.

The capital isn’t gone—there’s actually more money in the market than ever. It’s just almost all flowing to a completely different type of company than it…

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