Why Four Independently Named Sources Matter Here
Retention benchmarks are easy to cite loosely and hard to verify precisely, which is why this page leans on convergence rather than a single survey. KeyBanc Capital Markets and Sapphire Ventures’ 16th Annual Private Company SaaS Survey, SaaS Capital’s own 15th annual survey, and a separate analysis independently citing both alongside Meritech Capital all land in the same general range for private SaaS retention, roughly 90% to 118% net revenue retention depending on the cut. Three independently named providers agreeing is a meaningfully stronger evidentiary base than any one of them alone.
Where the Public and Private Numbers Diverge
Private and public SaaS retention are not the same story. The figures above describe private B2B SaaS companies. Public SaaS companies show a different, lower trend: a median net revenue retention that has cooled to around 111%, its lowest point in years, according to Meritech Capital as cited by a secondary source. That figure was not independently re-verified against Meritech’s own published data this cycle, so treat the precise number as directional rather than confirmed, even though the broader cooling trend it describes is consistent with public reporting elsewhere.
The Numbers
Private B2B SaaS gross retention is approaching a 90% threshold after declining to 86% in 2023, and net retention has continued holding above 100% with modest further improvement expected, per KeyBanc Capital Markets and Sapphire Ventures’ 16th Annual Private Company SaaS Survey.
The same KeyBanc and Sapphire Ventures survey converges on specific point figures of roughly 101% net revenue retention and 90% gross revenue retention for private B2B SaaS companies, independently cited by Gainsight.
Gainsight, Net Revenue Retention: How to Calculate NRR With Benchmarks
SaaS Capital’s own 15th annual survey of bootstrapped companies between $3 million and $20 million in ARR found a 103% median net revenue retention (90th percentile 117.9%) and a 91% median gross revenue retention (90th percentile 100%), both essentially flat year over year.
SaaS Capital, 2026 Benchmarking Metrics for Bootstrapped SaaS Companies
Public SaaS companies show a median net revenue retention that has cooled to around 111%, its lowest point in years, a figure attributed to Meritech Capital through a secondary citation and not independently re-confirmed against Meritech’s own published data this cycle.
Retention converts directly into deal size: SaaS companies with net revenue retention of 120% or higher command a median annual contract value of $61,802, more than double the $26,269 median for companies below that retention line.
SaaS Capital, What Is the Average Deal Size for Private SaaS Companies
Private SaaS ARR growth accelerated from 15% year over year in 2024 to an expected 20% in 2025, the first acceleration in three years, per the same KeyBanc and Sapphire Ventures survey.
Sources
The external data in this article draws on the sources below. Figures described in the text as estimates or industry triangulations are directional and are not attributed to a single dataset.
- KeyBanc Capital Markets and Sapphire Ventures, 16th Annual Private Company SaaS Survey (via PR Newswire)
- SaaS Capital, What Is the Average Deal Size for Private SaaS Companies
- SaaS Capital, 2026 Benchmarking Metrics for Bootstrapped SaaS Companies
- Gainsight, Net Revenue Retention: How to Calculate NRR With Benchmarks