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Market briefBB-2026-0271

Seven companies above the thirty line

The median growth rate of public B2B software has become the ninetieth percentile in five years, and the valuation gap sits four points wide.

3 minEnterprise Tech & SaaS

Seven public B2B software companies are currently growing faster than 30%, counted from the most recent reported quarter. Not the top seven — the whole list.

The comparison that gives the figure its weight is historical. The SaaS Capital Index median growth rate peaked above 30% in 2021, meaning half the index cleared what seven companies clear today. In five years the median became the ninetieth percentile.

An independent read of the index data file for 30 June 2026 finds the same shape across the 58 constituents reporting both growth and a multiple: 18 growing under 10%, 23 between 10% and 20%, 11 between 20% and 30%, and 6 above 30%. A different universe, and nearly the same answer.

The more useful finding is who missed and by how little, because scale turns out not to be what separates them.

  • Atlassian, at roughly 7 billion dollars annualised, missed the line by two points.
  • Samsara made the list at 1.9 billion.
  • Snowflake cleared it at 5.6 billion; CrowdStrike missed at 5.5 billion.

That cluster sits either side of a valuation cliff. The band above 30% earns a median revenue multiple of 5.5 times; the 10% to 20% band earns 3.1 times, and companies below 10% earn 1.9 times. A handful of growth points is now worth more than at any point in a decade, and the companies separated by them are not separated by quality.

One shared characteristic of the seven is worth noting for anyone still pricing by seat: four of them — Palantir, Datadog, Cloudflare and Snowflake — bill against usage in some form. When a customer runs more AI workloads, the bill rises without anyone negotiating an expansion.

Retold from SaaStr. This is a summary in our own words; follow the link for the original reporting.

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