Only 1 in 3 Series B Deals Double Investors’ Money

Only 1 in 3 Series B deals even double investors’ money.

That’s the brutal truth from Carta’s latest data, and it’s not because the market’s unfair. It’s because most SaaS companies still build for acquisition, not retention.

The good news? Those odds are fixable.

If you can improve post-sale performance (customer health, value realization, and ultimately NRR) you change the math completely.

Investors want predictable, capital-efficient growth.
Founders want to extend runway and reduce CAC pressure.
Both goals are achieved by the same lever: ensuring customers get measurable, increasing value.

One company I worked with cut its logo churn in half, drove a 3x improvement in overall revenue churn, and saw its NRR jump by 25 percent. All without spending another dollar on marketing or sales.

That’s what happens when you build a system that ensures:

• Every customer is healthy (and you can prove it).

• Value is being realized and reinforced.

• Expansion is a natural outcome, not an accident, and certainly not forced.

Do that, and you don’t just retain customers, you gain momentum.
CAC goes down. Runway extends. Valuation multiples go up.

Way before your next round, ask yourself: Can you prove that customers are achieving measurable value? Is that measurable value attainment directly linked to your expansion revenue?

The companies that make it past Series B aren’t just the best at selling.
They’re the best at keeping and growing what they’ve already sold.