A complete Series B financial model for SaaS startups. Revenue model, unit economics, hiring plan, cash flow projections, and funding scenarios — structured for investor review.
Projection Horizon
5 years with AOP detail for current year (monthly)
Model Tabs
8 core tabs
Format
Excel + Google Sheets
Path to profitability, market leadership, and capital efficiency. Series B investors are modeling the exit multiple — they want to see EBITDA timing and revenue quality.
SaaS models must build a separate cohort tab. Each quarterly vintage tracks its own retention curve. Investors will reconstruct your NRR from cohort data — make sure the math is consistent with your ARR bridge.
Subscription-based MRR/ARR model with new customer acquisition, expansion revenue (upsell/cross-sell), and churn tracking. Build separate cohort sheets for each customer acquisition vintage.
Series B models require a formal AOP (Annual Operating Plan) for the current year with monthly actuals-vs-plan tracking. Investors will ask for monthly actuals in the data room and will model variance trends.
Include a capital allocation memo that justifies the Series B use of proceeds. Show how each dollar maps to specific growth levers and the expected return on that investment.
A Series B SaaS financial model should cover 5 years with AOP detail for current year (monthly) of projections with these tabs: Board-Level P&L Summary, Revenue Model by Segment, Sales Capacity Model, Headcount by Function, Departmental Budget vs. Actual, Balance Sheet Forecast, Cash Flow Statement, Capital Allocation Plan. Path to profitability, market leadership, and capital efficiency. Series B investors are modeling the exit multiple — they want to see EBITDA timing and revenue quality.
Subscription-based MRR/ARR model with new customer acquisition, expansion revenue (upsell/cross-sell), and churn tracking. Build separate cohort sheets for each customer acquisition vintage. The key revenue drivers are: New MRR from new customers (volume x ACV); Expansion MRR from existing customers (NRR - 1.0 component); Gross churn MRR (churned logo count x average ACV); Net new ARR bridge month-by-month.
SaaS unit economics at the Series B stage should include: Customer Acquisition Cost (CAC) by channel; CAC Payback Period (months to recover CAC at gross margin); Lifetime Value (LTV) at cohort gross margin; LTV:CAC ratio target (3:1 minimum for Series A); Gross Revenue Retention and Net Revenue Retention. SaaS models must build a separate cohort tab. Each quarterly vintage tracks its own retention curve. Investors will reconstruct your NRR from cohort data — make sure the math is consistent with your ARR bridge.
Series B models require a formal AOP (Annual Operating Plan) for the current year with monthly actuals-vs-plan tracking. Investors will ask for monthly actuals in the data room and will model variance trends. Start with the smallest unit of your business (one customer, one transaction, one seat) and build up from there. Every assumption should have a source or benchmark you can defend in an investor meeting.
Include a capital allocation memo that justifies the Series B use of proceeds. Show how each dollar maps to specific growth levers and the expected return on that investment.
Get the SaaS Series B financial model as a pre-built Excel and Google Sheets template. Assumptions dashboard, revenue model, unit economics, and cash flow — ready to customize.
Includes Excel file, Google Sheets version, and model documentation guide