The Day in SaaS 07.01.21: $20B Invested Over Zoom; Is 50X ARR The New Normal; $10B for SaaS for Plumbers

• Thoma Bravo Billionaire Says Virtual Dealmaking Is Here to Stay. Thoma Bravo has done an incredible $20B of SaaS and Cloud deals over Zoom since Covid hit. That’s 25% of all its assets under management. With a 40% IRR.

• SentinelOne closes up 21% in NYSE debut as highest-valued cybersecurity IPO ever. A $10B+ market cap — at about $200m in ARR. But that’s on top of 108% YoY growth. A crazy high multiple for crazy high growth in cybersecurity.

• Shogun, a front end e-commerce page builder, nabs $67.5M as retailers look for alternatives to marketplaces. B2B eCommerce remains on fire as Shopify crosses 8% of all e-commerce transactions. Building on top of Shopify is the fastest way to scale in e-commerce SaaS.

• ServiceTitan acquires Aspire to move into landscaping, raises $200M at a $9.5B valuation. An almost $10B valuation for SaaS for plumbers. An incredible success story from SoCal SaaS.

• Robinhood slapped with biggest-ever penalty by Wall Street regulator. $70m isn’t much for Robinhood in the end. But next time it could be much bigger. And it’s already the largest FINRA fine in history.

• Dear SaaStr: Should Cancellations be Effective Immediately for a SaaS Company? Why?. A classic answer, updated. Do what’s best for the customer. That always pays off in the long run.

• The 9 Biggest Mistakes I Made Learning Enterprise Sales. Another SaaStr classic. Do you map out all the key stakeholders? And is your culture truly enterprise-focused?

• Articulate Global Lands $1.5B Round At $3.75B Valuation. eLearning is hot. Founded way back in 2002, Covid boosts Articulate to an almost $4B valuation.