The Briefing
A 32-month CAC payback period in the $1M–$10M ARR band signals that early-stage SaaS companies are still trading efficiency for growth, though the gap between ambition and unit economics remains uncomfortably wide. The Q1 private benchmarks reveal founders still playing by 2021 rules in a 2025 market—a dangerous lag that makes Kellogg's rising work on disciplined go-to-market execution particularly timely. Meanwhile, the enterprise security shift toward agentic AI defense systems introduces a fresh complexity: products that promise to compress payback windows through automation may paradoxically extend them through longer enterprise sales cycles. Watch whether Q2 data shows compression or capitulation.
CAC Payback Period
32
SIM–SSM ARR band
KeyBanc vs OnlyCFO
Claim 6 shows nearly all SaaS companies expect to invest in AI with anticipated operational impacts, while claim 9 indicates over 50% of finance leaders lack an AI strategy, suggesting investment intention without strategic clarity.
Nearly all SaaS companies in the survey expect to invest in AI in 2025, with impacts to business operations anticipated within the next 3 years
Over 50% of finance leaders have no AI strategy for adopting AI into finance and accounting
Dave Kellogg
3 new articles in the last 60 days · up 90% vs prior 60d · 207 all-time
AI-Powered Security: Building Agentic Defense Systems for the Enterprise
This article discusses the emerging challenge of securing enterprises where both attackers and defenders operate as autonomous AI agents. Featuring CISO Jonatha