Crunchbase: $50B+ Deployed to Boom-Era Software Companies That Haven't Raised in 4+ Years
Crunchbase News·high signal
Crunchbase analysis reveals over $50 billion was invested in software companies during the 2020-2022 boom era that have not raised follow-on funding in 4+ years. These are stalled unicorns facing a dual squeeze: AI-native competitors eating their categories from below, and public market re-ratings making IPO exits increasingly difficult. The 'zombie SaaS' cohort represents a massive capital overhang that may never generate returns, accelerating the reallocation toward AI-native startups.