SaaS Metrics Weekly — 2026-04-02
Q1 2026 closed with a historic tension at the heart of the software market: venture funding shattered all global records — hitting $300 billion for the quarter — even as public B2B SaaS equities suffered their worst drawdown in years, with the iShares Expanded Tech-Software ETF (IGV) falling more than 21% year-to-date. Progress Software bucked the public market gloom with a strong fiscal Q1 beat, while OpenAI closed a landmark $122 billion funding round at an $852 billion valuation. Meanwhile, AI-powered note-taking startup Granola reached unicorn status with a $125M Series C.
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