Covid Benchmarks from KeyBanc’s SaaS survey

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David Spitz, Managing Director at KeyBanc, gave a rundown on the state of the SaaS market. Here are a few key stats that stood out to us.

• 20% of YTD churn can be attributed to Covid, but many companies on annual contracts haven’t had an opportunity to churn yet.

• 39% of SaaS companies have had to reduce their workforce, with the most significant impact on sales teams.

• Gross New ARR Bookings % of Starting ARR. New 2020 forecast is down 29%

• Close rates on new deals down 8%

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