Image of a digital highway for the Vertical AI Series, Part I After building one of the largest vertical SaaS portfolios in venture , we learned that great vertical software companies can unseat incumbents, transform industries and the way people work, and become highly profitable, generational businesses. Now that the top 20 public vertical SaaS companies in the US have a combined market capitalization of ~$300 billion, this perspective feels obvious, but when Bessemer started investing in Mindbody , Shopify , Procore , and others back in the early 2010s, vertical software startups were seen as “sleepy” and their potential was uncertain. The meteoric rise of these businesses over the past 15+ years and the advancements in AI during that same period has set the stage for an exciting […]
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