Looking at VC funding, these investments and deal volumes have been incredibly volatile in recent years. Companies have instead been encouraged to turn to M&A strategies for growth and liquidity. The median VC funding size was $2.8 million during the first three quarters of 2025.

During the first three quarters of 2025, the median disclosed exit revenue multiples for companies in the Internet Content & Commerce subsector was 7.5 times, followed by Application Software at 4.4 times, Payments at 4.2 times, and IT Services & Distribution at 1.9 times. The median disclosed M&A deal size was $91 million.