Benchline crossed the $10M ARR milestone in Q4 2025, driven by strong net dollar retention of 127%. The company added 10 new enterprise customers in Q4 and is seeing accelerating inbound interest from PE-backed SaaS companies looking for operational benchmarks.
Headcount grew to 62, primarily in engineering and customer success. Cash position remains strong at $14M, providing 18+ months of runway. The network effect thesis is playing out as planned — each new customer makes the dataset more valuable for all participants.
Metrics
Annual Recurring Revenue
Net Dollar Retention
Headcount
Cash on Hand
| Vehicle | Type | Round | Date | Invested | Shares | Price | FMV | |
|---|---|---|---|---|---|---|---|---|
| Fund II | Investment | Seed | Jan 15, 2022 | $300,000 | 300,000 | $1.00 | $5,646,000 | |
| Fund II | Investment | Series A | Apr 1, 2023 | $1,200,000 | 300,000 | $4.00 | $5,646,000 | |
| Fund II | Investment | Series B | Aug 1, 2024 | $2,500,000 | 250,000 | $10.00 | $4,705,000 | |
| Fund II | Valuation Update | - | Dec 31, 2025 | - | - | $18.82 | $9,500,000 |
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Recent Interactions
View allRe: Customer expansion update
Emily shared that three large enterprise prospects are in late-stage trials. Discussed pricing strategy for annual contracts above $200K and whether to offer multi-year discounts.
Founders
Emily Zhang, Tom Hartley
Overview
Real-time operational benchmarking platform for SaaS companies comparing against anonymized peer data.
Why We Invested
Network effects compound as more companies join, creating a unique data moat.