The CVF Journal
Field notes on capital efficiency, the EBITCAC framework, and the economics of non-dilutive growth for Series A/B SaaS startups.

How a $90 Million Recapitalization Reshaped a Direct-to-Consumer Brand
A $90M recapitalization transforms a DTC brand’s future.
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From Startup to Unicorn: The Impact of a $250 Million Late-Stage
A $250M late-stage investment elevates a fintech to unicorn status.
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Case Study: $80 Million Growth Equity in a Cloud Infrastructure
An $80M growth equity deal sparks cloud infrastructure growth.
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How a $120 Million Debt Facility Fueled International Expansion for a
A $120M debt facility signing marks a marketplace’s global push.
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Why a $60 Million Secondary Sale Transformed This B2B SaaS Company
A $60M secondary sale sparks celebration for a B2B SaaS leader.
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Unpacking a $300 Million Buyout: Private Equity’s Approach to Tech
A $300M private equity buyout fuels tech growth in a high-stakes deal.
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The Role of CAC Financing in a $75 Million Martech Expansion Deal
A martech firm leverages CAC financing for a $75M growth push.
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Inside the $200 Million Series D: Lessons from a Leading Healthtech
A healthtech scale-up secures $200M, driving AI innovation in healthcare.
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How Revenue-Based Financing Enabled a $100M+ Growth Round in Fintech
A snapshot of fintech innovation, where revenue-based financing fuels a $100M+ growth round.
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Major SaaS Acquisitions Over $50 Million: Strategic Rationale and
A glimpse into the high-stakes world of major SaaS acquisitions, where strategic decisions shape the future of the software industry.
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Pipe: A Fintech Pioneer in Revenue-Based Financing
Introduction Pipe is a financial technology ( fintech ) company founded in 2019 that has gained fame as a pioneer of revenue-based financing. Often described as a “Nasdaq for revenue,” Pipe built a…
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Global Review of Customer Value Finance (CVF) Funds
Introduction: The Rise of Customer Value Finance Customer Value Finance (CVF) is an emerging investment philosophy that centers on customer-centric metrics – such as Customer Acquisition Cost (…
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