Marketing Tech
Marketing technology SaaS includes email, CDP, SEO, and ad-tech platforms. MarTech is more budget-sensitive than developer or infrastructure SaaS — customers cut MarTech subscriptions faster in downturns, making NRR a critical signal for evaluating platform stickiness. Track 6 public marketing tech companies here.
What drives multiples in Marketing Tech
MarTech multiples are compressed relative to infrastructure SaaS due to budget volatility — CMO budgets are among the first cut in downturns. Companies that command premium multiples in this category do so through platform lock-in (owning the CDP or email layer), cross-sell into adjacent channels, and NRR that exceeds 110% despite the category's churn pressure.
Top performers in this sector
Sector vs. all public SaaS
6 Companies
Adobe Inc.
Braze, Inc.
HubSpot, Inc.
Sprinklr, Inc.
Sprout Social, Inc.
The Trade Desk, Inc.
Sector Insights
Valuation discount
Median EV/Revenue of 3.8x is more than 20% below the all-SaaS median of 5.1x. The market may be pricing in lower growth expectations, margin headwinds, or increased competitive pressure in this category.
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