Derek Steer: $500M mega-rounds are defensive plays to declare category winners
Derek Steer · Can Mode Beat Looker? 140% Net Dollar Retention and 600+ Customers Say Yes! · Oct 18, 2021 · at 32:19
Mode CEO Derek Steer explains the strategic motivation behind massive venture capital rounds in the SaaS data ecosystem.
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“Once you get into rounds that are this, as big as like this five train round, you know, five hundred million bucks. Part of that investment is defensive where you were essentially declaring yourselves the winner of the space and like excluding other folks from going and taking meaningful market share.”
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