Report · 40 min read

Scaling to $100 Million

Mary D'Onofrio and Ethan Ding · Bessemer Venture Partners Free Advanced

Benchmarks growth, margins, CAC payback and spend allocation at each ARR band, which is what a board is implicitly comparing you against. The most useful single reference for setting next year's targets.

• Growth benchmarks by scale: about 200 percent at 1 to 10M ARR, 115 percent at 10 to 25M, 95 percent at 25 to 50M, 60 percent past 50M.
• Growth endurance means next year lands near 70 percent of this year's rate in private markets, 80 percent in public.
• CAC payback targets: under 12 months for SMB, under 18 for mid-market, under 24 for enterprise.
• The efficiency score is FCF margin plus year-over-year ARR growth, targeting 70 percent at 25 to 50M ARR and 50 percent past 100M.