AI Boosted Entire Industries’s Value By Millions.

What we’ll cover today:

🚀 AI Boosting Value By Millions Overnight.
📉 Over 70% of SaaS Startups Fail Because of This.
💻 Billion Dollar SaaS is on its Way.
🔗 The Event Roundup.

AI Boosting Value By Millions Overnight.

Look at the story of Casetext, a SaaS company that harnessed AI to secure a $650 million acquisition by Thomson Reuters.

• AI-Powered SaaS Innovation: Casetext’s AI integration transformed its legal research service, dramatically increasing its market value.

• Broader SaaS Implications: This pivotal change suggests significant potential for AI across other SaaS sectors, including healthcare and finance management.

• Role of Vertical AI Agents: Uncover how these specialised tools reshape SaaS business models, drive efficiency, and foster groundbreaking innovations.

Learn about AI's vast possibilities for enhancing SaaS offerings, making services smarter, faster, and more effective.

Here's the whole article

1. Over 70% of SaaS Startups Fail Because of This.

This is a tweet from Quentin, CEO of Fiddo (a Customer feedback SaaS).

In his tweet, he says: “Over 70% of SaaS startups fail because of this — can you face the truth?

What’s the #1 reason for failure?

It’s not a lack of funding or even a bad product…”

Here’s The Whole Tweet

2. Billion Dollar SaaS is on its Way.

This is a tweet from Tibo. He built Tweet Hunter, and Taplio (sold for $10m)

He Tweets: 

“Here's my take on the future of Saas:

𝗕𝗶𝗹𝗹𝗶𝗼𝗻-𝗱𝗼𝗹𝗹𝗮𝗿 𝗦𝗮𝗮𝗦 𝗶𝘀 𝗼𝗻 𝗶𝘁𝘀 𝘄𝗮𝘆 𝗼𝘂𝘁.

🔹 Building software is cheaper than ever before

🔹 While Customer acquisition costs have skyrocketed in the last couple of years.

Thanks to AI, even with basic coding skills, you can now create and publish an MVP in a matter of hours.

So, who are going to be the REAL winners?”

Here’s The Whole Tweet

1. Saas startup Everstage Raises $30 Million From Eight Roads Ventures, Others.

Sales performance management startup Everstage has secured $30 million in a funding round led by Mumbai-based Eight Roads Ventures. Existing backers Elevation Capital and 3one4 Capital participated.

2. Startups Raise $10 Billion in the July-September Quarter, Down 15%.

According to the market intelligence firm, this marks a 30% fall in the number of deals, which are now 229 from 318 in the April-June quarter. PhysicsWallah, Zepto, and Rapido were among the top-funded startups during the quarter.

3. Phunware Unveils an AI-Driven SaaS Platform For the App Market.

Phunware, a leading enterprise cloud solutions provider for mobile applications, announced today the development of a new generative AI-based software-as-a-service (SaaS) platform. 

This platform is expected to democratise the creation of high-quality custom mobile applications, enabling rapid development and monetisation for businesses of all sizes.