Seven public B2B software companies are growing faster than 30%. That is not the top of the list. That is the entire list.
The cohort: Palantir, Datadog, Cloudflare, Snowflake, Rubrik, Samsara, Figma. Most recent quarter, ARR or annualised revenue. The smallest is $1.9B. The largest is $7.7B. All still compounding above 30%.
In 2021, the SaaS Capital Index median growth rate was above 30%. Half the index cleared what seven companies clear today. The median became the 90th percentile in five years.
If you are a VP Sales at a $200M ARR B2B company growing 18%, you are not underperforming. You are your peers. The peer set moved.
What Separates Them
Four of the seven do not charge by seat. Palantir, Datadog, Cloudflare, Snowflake: all bill against usage. When a customer runs more AI workloads, the bill goes up. No seat expansion negotiation. No CFO approval for headcount growth. The AI boom flows through the pricing model without a sales cycle.
Cloudflare framed the quarter around machine-to-machine traffic. Datadog said customers are building and deploying with AI and using the platform to observe it. Snowflake sits under the data those agents read.
Figma is the exception. Figma sells seats, grew 48% in Q2, and net dollar retention hit 136%. The mechanism: they added a consumption layer on top of seats rather than replacing them. Q2 was the first full quarter of AI credit monetisation. Customers expanded on both dimensions. One large tech customer added 25,000 paid seats through an AI credit add-on.
Gross margin fell five points year over year. The CFO was direct: they do not charge for products in beta, so they carry the inference cost with no offsetting consumption revenue. That is what the transition looks like from inside.
The Cluster Below the Line
Atlassian: $7B annualised, missed the line by two points. CrowdStrike: $5.5B, 28% growth. These are not struggling companies. They are sitting in a band that earns a 5.5x median revenue multiple, while sub-10% growth earns 1.9x.
A handful of points of growth is worth more than it has been in a decade.
What This Means for Sales Teams
If your company is seat-based and trying to hold 30%+ growth at scale, the Figma playbook is the one you can copy. Add a consumption layer that pulls seats along with it. The AI product did not cannibalise seat count.
If your pricing model is still pure seats and your growth is in the low 20s, you are not behind the market. You are the market. The question is whether your board and your CRO have reset expectations to match.