What does the Dealroom Multiples page measure?

It measures EV/Revenue multiples for private-company exit rounds and VC funding rounds where both deal value and revenue at the time of the deal were verifiable.

How many deals are included?

The current public dataset includes 6,924 deals: 2,443 exit rounds and 4,481 VC rounds. Segment totals use all recorded deal dates; annual charts cover 2015-2026.

How are VC multiples defined?

VC rounds default to post-money EV/Revenue, with a page toggle for pre-money EV/Revenue. Exit rounds use EV/Revenue at exit.

What filters and cuts are available?

The page cuts multiples by revenue growth, deal size, geography, sector, SaaS and eCommerce & Marketplaces business models, AI versus non-AI, Bay Area versus the rest of the United States, and VC funding stage.

Multiples · Private companies

What buyers and investors pay for private companies

EV / Revenue across 6,900+ private-company exit and VC deals. Annual trends, 2015–2026.

Download PDF deck

01 · Segments

Multiples by segment

Median EV / Revenue by revenue growth, deal size, geography and sector.

Exit rounds—

VC rounds—

Baseline cut: founded 1990+, $5M+ peak revenue, EV/Revenue ≤ 300×, "Outside Tech"-tagged rows excluded. —

02 · Historical multiples

Multiples by year, 2015–2026

Bottom quartile, median and top quartile per year. The shaded band is the inter-quartile range.

VC basis

View

Sync Y-axis

Bottom quartile Median Top quartile

Exit rounds

—

VC rounds

—

By region

North America, Europe and Asia. Toggle median vs top quartile.

Exit rounds by region

2015–2026

VC rounds by region

2015–2026

AI vs non-AI

AI-tagged companies vs everything else. The premium opened up post-2020.

Exit rounds: AI vs non-AI

2015–2026

VC rounds: AI vs non-AI

2015–2026

SaaS and eCommerce & Marketplaces

Multiples by business model. Companies can belong to both groups.

Exit rounds by business model

2015–2026

VC rounds by business model

2015–2026

Bay Area vs Rest of US

US-only universe, split by Bay Area HQ vs the rest of the US.

Exit rounds: Bay Area vs Rest of US

2015–2026

VC rounds: Bay Area vs Rest of US

2015–2026

By round stage

Median pre-money EV / Revenue at funding, by stage.

Median EV / Revenue at funding, by stage

—

03 · Methodology

Where the data comes from

One row per deal, from the Dealroom Multiples sheet.

Key facts

6,924 private-company deals in the current public cut
2,443 exit rounds and 4,481 VC rounds
Global coverage; segment totals include all recorded deal dates, while annual charts cover 2015–2026
Primary metric: EV / Revenue at exit or funding
Segment cuts include growth, deal size, geography, sector, SaaS, eCommerce & Marketplaces, AI, Bay Area and funding stage
Data refreshed 13 September 2026; sector and business-model groups can overlap

The multiple

Exit rounds use EV / Revenue at exit. VC rounds default to post-money EV / Revenue, with a toggle for pre-money. Quartiles are computed nearest-rank on the sorted list of multiples — no interpolation, so each quartile sits on a real deal.

Baseline filters

Founded 1990 or later
$5M+ peak revenue in the sheet's revenue history
EV / Revenue ≤ 300×
Tagged "Outside Tech" rows excluded

Track multiples across your portfolio

Dealroom's platform tracks EV / Revenue, ARR and revenue trajectories across 4M+ private companies. Use it to benchmark portfolio companies, pre-empt valuation conversations, and find the right comps.

Book a demo More research