Overview
Growthz is a Martech AI startup building on a high-growth SaaS model with a complex tiered pricing structure, upgrade dynamics, and retention curves that define its long-term value. As the founders prepared for their investor raise, they needed a model that went beyond a simple revenue projection — one that correctly captured SaaS mechanics and could stand up to due diligence from growth investors who know exactly what to look for.
XLURSELF was engaged to build the complete investor valuation model: from top-of-funnel acquisition through conversion, plan selection, monthly upgrades, and cohort-based retention — to final DCF and revenue multiple valuation with a full investor presentation. Full case study details coming soon.
Challenge
Full challenge detail coming soon. The engagement required correctly modelling SaaS dynamics — top-of-funnel acquisition, conversion rates, plan distribution, upgrade trajectories, and churn — alongside capital structure review and competitor benchmarking in the Martech AI space.
Solution
Full solution detail coming soon. XLURSELF built a comprehensive SaaS valuation model grounded in unit economics — CAC, LTV, cohort retention, and ARR build-up — with multiple scenario plans and a final investor-ready presentation package.
How We Approached It
SaaS Business Deep-Dive & Driver Mapping
Mapped acquisition channels, conversion funnel, plan distribution, ARR drivers, and CAC/LTV dynamics — building a complete picture of the unit economics before a single projection was modelled.
Capital Structure & Funding Analysis
Reviewed existing capital structure, funding history, and investor obligations — modelling post-money valuation implications and dilution scenarios across funding rounds.
Competitor Financial Benchmarking
Sourced and analysed comparable Martech and SaaS company financials to benchmark gross margins, growth multiples, net revenue retention, and valuation comps as assumption anchors.
Bottom-Up SaaS Projections: Top Funnel to ARR
Built granular projections from paid/organic traffic through trial conversion, plan selection, monthly upgrades, and retention by cohort across a 5-year forecast horizon — with full ARR waterfall.
Valuation Model, Scenarios & Investor Presentation
Assembled DCF and ARR multiple valuation with Base, Upside, and Stress scenarios including upgrade path sensitivity. Produced the final investor presentation for use with their registered valuer and investor audience.
Impact
3 plans
Scenario coverage
Base, Upside, and Stress scenarios with upgrade path sensitivity — giving investors a complete picture of the SaaS growth range.
CAC / LTV
Unit economics
Full cohort-based retention and LTV modelling — the metrics growth investors scrutinise most, built with integrity.
ARR waterfall
SaaS projection
Top-funnel to ARR build-up with new MRR, expansion, contraction, and churn modelled separately for each cohort.
Pitch-ready
Complete package
Model, narrative, and investor presentation delivered together for use with their registered valuer and investor audience.
Key Outcomes
- Full SaaS valuation model — top-funnel to conversion, plan upgrades, retention curves, and ARR forecast
- Unit economics framework: CAC, LTV, payback period, and net revenue retention by cohort
- Competitor financial benchmarking with valuation multiple analysis for Martech AI sector
- Base, Upside, and Stress scenario plans with upgrade path sensitivity tables
- Investor-ready presentation deck for use with registered valuer and investor audience
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