Bessemer Venture Partners: The Sage of SaaS (and AI) in 2025

Bessemer Venture Partners (BVP) is one of the oldest and most successful firms in the game. They are the architects behind the "Bessemer Cloud Index" and have a legendary track record in SaaS. In 2025, they are applying that same rigorous, metrics-driven approach to the world of AI and Deep Tech.

The Anti-Portfolio: A Lesson in Conviction

If you visit Bessemer's office or website, you'll see a list of every multi-billion dollar company they declined to invest in—Apple, Google, Facebook. This "Anti-Portfolio" is a testament to their transparency and their pursuit of conviction.

Pitching the "Sage"

Bessemer partners are often referred to as "Sages." They value data over hype. In 2025, if you are pitching a generative AI company, you need to show more than just "cool demos." They want to see the roadmap to $100M in ARR.

The 2025 AI Roadmap

BVP publishes an annual "State of the Cloud" and "AI Roadmap." In 2025, they are focused on "Vertical AI," "Data Infrastructure," and "Human-AI Collaboration." If your startup fits these themes, you're already in their "Prepared Mind."

Metrics That Matter for Bessemer in 2025

Bessemer invented many of the metrics that we use today to measure SaaS success (CAC Payback, LTV/CAC, the Rule of 40).

Efficient Growth

In 2025, Bessemer is looking for "Efficient Growth." How much capital does it take for you to acquire a dollar of new revenue? AI startups that can demonstrate high capital efficiency will have a massive advantage.

The Retention Flywheel

Net Revenue Retention (NRR) is still their favorite number. They want to see that once a customer starts using your AI tool, they never want to stop—and in fact, they want more of it.

How to Win Over Bessemer in 2025

1. Bring the Data. Don't hide your churn or your CAC. They respect founders who know their numbers inside out.
2. Align with their "Laws." Study the "Bessemer Laws of SaaS." If you can explain how you've optimized for these laws, you've already won half the battle.
3. Be Ambitiously Rational. They like founders who want to change the world but also have a spreadsheet that shows how.

Conclusion

Partnering with Bessemer means gaining access to the greatest library of SaaS knowledge on the planet. Their discipline is what transforms a "startup" into a "Cloud Giant." At Orkust Capital, we often work with our portfolio companies to get them "Bessemer-ready" by focusing on the core unit economics from Day 1.

Building the next Cloud Giant? Let's build it together with Orkust.