Data-Driven Growth

Scale Smarter: 2025 European SaaS Benchmark Insights for Growth-Stage Startups

10 December 2025 | 5 - 6 PM CET

Discover how 800+ European SaaS companies are building efficient growth engines—and how HubSpot for Startups can accelerate your journey from Seed to Series B and beyond.

About the Session

The Efficiency Imperative

Building a SaaS startup in 2025 means mastering both growth and capital efficiency.

Serena has put together a benchmark report that reveals the five critical metrics that separate top-performing European SaaS companies from the rest, based on real data from 800+ startups from Seed to Series C. See where your startup stands, and learn from your peers.

✅ What You'll Learn

1. The five north-star metrics for efficient growth:

YoY Growth Rate
Rule of 40
Burn Multiple
Net Revenue Retention
ARR per Employee

2. A playbook on sales excellence

Sales team structure blueprints, including recommended team composition for Seed through Series C stages
Expansion revenue playbooks: How elite companies reach 50/50 new vs. expansion revenue split
Partner-powered growth strategies

3. Equity story and valuation trends

Valuation multiples by stage: Seed through Series C (6-12x ARR median)
What drives premium valuations: Rule of 40, burn multiple, and NRR thresholds
Funding reality check: Top vs. bottom quartile gaps and what they mean for your next round

4. AI democratization

AI integration by company stage: From product development to operations
How 86% of European SaaS companies are embedding AI across GTM and product
AI's role in valuations: Where it creates competitive advantage vs. where it's table stakes

Meet Your Speakers

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Sébastien Le Roy, Partner, Serena

Sébatien Le Roy is a Partner at Serena, co-heading the firm’s flagship strategy, backing founders from day one who go on to build world-class companies like Dataiku, Malt, Electra, Lifen, and Pretto. His investment philosophy is instinct-driven yet data-backed, spotting trends ahead of the curve. Sébastien has a sharp intuition for hand-picking visionary entrepreneurs across AI, SaaS, fintech, healthcare, and energy.

Beyond investing, Sébastien is shaping the very fabric of the European tech ecosystem. He co-created Serena’s operational model, now a benchmark in venture capital, and built one of the most powerful founder and executive communities in Europe (Serena Squad, 600+ active members). He is also behind some of the most influential content in SaaS and venture, including the European SaaS Benchmark and the Ultimate VC List, now go-to resources for entrepreneurs and investors alike.

Recognized as a leading expert in SaaS, Sébastien is a sought-after speaker at major European tech conferences, regularly invited to share his insights on scaling software businesses, market shifts, and the future of AI-driven innovation.

His superpower? A rare instinct to sense people and anticipate where the next wave of disruption will come from making him a trusted ally to the entrepreneurs who are shaping the future.

Maxime Furet, Investor

Maxime joined Serena in 2021 as a Senior Associate, focusing on sourcing and investing in next-generation leaders across Vertical AI, Fintech, and Consumer sectors from Seed to Series A.

Before Serena, he worked in a hedge fund before transitioning to early-stage investing. He has also experienced the startup path firsthand by working on product development and launching his own gaming company.
At Serena, Maxime has notably backed Leonardo AI (exit to Canva), Bitstack, and Dotfile, while contributing to the firm's overall investment theses and portfolio strategy.

François Plattard, Head of HubSpot For Startups (France)

François Plattard is the Head of HubSpot for Startups France. He supports startups and scaleups to grow faster and better.

François works with VC funds, incubators and accelerators on sales, marketing, development and growth.

Before HubSpot, François worked for several SaaS startups in San Francisco and Paris.

About Serena

Serena is a leading European VC fund partnering with entrepreneurs who build a better world through innovation and technology.

As a mission-driven firm with €1 billion under management, Serena invests with a long-term view, backing exceptional companies from inception to global scale in all sectors undergoing profound technological transformation (AI, Energy transition, Deeptech, Impact).

Built on entrepreneurial DNA, Serena operates through agile, fast-moving teams that combine operational experience, business acumen, and sector expertise. Its value-add platform, all-in-one and the largest in Europe, gives founders the strategic and operational leverage to build enduring category leaders.

Its success stories include Dataiku, Malt, The Fork, Electra, Descartes Underwriting, and wecasa.

Download the 2025 European benchmark report

Simply apply to the HubSpot for Startups program and register for the webinar to unlock the report, and several other perks.

European SaaS Benchmark Report

Download now

Discover how 800+ European SaaS companies are building efficient growth engines.

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