2024 Global Developer-First Transactions Report
Full report on all VC funding and M&A global transactions for developer-first startups in 2024
Hello friend,
After several weeks of hard work, the 2024 Global Developer-First Transactions Report is finally available!
Since joining Avolta a year ago, I have tracked every fundraising and M&A deal in this space. And 2024 was a record-breaking year with $31.76 billion raised across 406 transactions globally.
The surge in application development, mainly driven by advancements in AI, has heightened the demand for robust developer tools and infrastructure. Developers are increasingly influential in IT budgeting decisions, prioritising both developer experience and tool ROI. This is exemplified by GitHub Copilot’s impressive $2 billion annual recurring revenue, significantly enhancing productivity.
However, despite robust investment activity, exit opportunities were limited, with only 58 transactions and few substantial deals. This stagnation in exits can be attributed to heightened SEC scrutiny, substantial capital expenditures by big tech to meet AI cloud demands, and a general disinterest in acquisitions among scale-ups coupled with a closed IPO window.
📊 What’s inside the report?
✅ Which categories attracted the most funding
✅ The best geographies to scale a developer-first startup
✅ The top investors backing these companies
And more! Click below to access the full report, and please let me know if you find any discrepancies 😊