Morgan Livermore, GP @ Supercruise
Airtable and Miro sold at 2.5x ARR after raising at 30-75x ARR—a cautionary tale on valuation risk. The key insight: most founders capture little value even in successful exits, and the ceiling for software companies depends entirely on which budget they're selling into: commoditized software hits 2-3x ARR, while labor-replacing AI products have far higher potential as long as margins stay wide.
Read the full post on Supercruise ↗
Topics: AI (Horizontal) · Enterprise Software · Venture Capital & Startups
Published by Supercruise · their site ↗
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