---
title: "B2B GTM software trades at a fraction of infrastructure valuations"
slug: "b2b-gtm-software-trades-at-a-fraction-of-infrastructure-valuations"
date: "2026-11-01"
category: "MarTech"
author: "Chloe Duval"
correspondent: "Chloe Duval"
correspondentRole: "GTM & Outbound Investigative Reporter"
readingTimeMinutes: 2
tags: ["MarTech","News"]
originalSourceUrl: "https://www.saastr.com/the-b2b-category-the-markets-hate-the-most-today-gtm/"
canonicalUrl: "https://aurav.ae/b2b-gtm-software-trades-at-a-fraction-of-infrastructure-valuations"
publisher: "Aura-V Intelligence (aurav.ae)"
---

# B2B GTM software trades at a fraction of infrastructure valuations

> GTM firms are priced 8-10x lower than cloud infra peers despite similar growth rates.

## Key Takeaways (TL;DR)

- Public GTM multiples hover around 2.7-3.7x revenue, far below the 22.6x median for infra.
- AI agents reduce seat-based revenue, prompting investors to discount GTM valuations.
- Private GTM deals command 35-150x revenue, highlighting a split between public and strategic buyers.

Salesforce’s $5.66 billion acquisition of Braze at a 6.8x trailing-revenue multiple sparked a comparison that shows public GTM software trading at a fraction of infrastructure and security peers ([SaaStr](https://www.saastr.com/the-b2b-category-the-markets-hate-the-most-today-gtm/)). The GTM and front-office group has a median enterprise-value-to-revenue multiple of about 2.7x, while Cloudflare, Datadog and Snowflake sit at a median of 22.6x—roughly eight times higher. Growth rates overlap: Braze, Klaviyo and CrowdStrike all posted 26% YoY revenue growth, yet CrowdStrike trades at 42.6x versus Braze’s 3.7x.

ZoomInfo, listed under the ticker “GTM,” illustrates the low-multiple environment with a 2.0x EV/revenue ratio and a market cap of $1.14 billion against $1.26 billion of trailing revenue. The gap is attributed to investor expectations that AI agents will shrink seat-based usage in GTM tools, reducing future revenue streams. Twilio, which charges per usage, trades at 6.8x, underscoring the premium for consumption-based models.

Private valuations tell a different story: Clay raised at a $7.1 billion valuation (~35x revenue), Sierra at over 100x, and Rox at about 150x, all funded for agent-centric products that avoid per-seat pricing.

Our read: Public markets penalize GTM firms that rely on seat licenses, betting AI will erode those metrics, while strategic buyers and private investors are willing to pay premium multiples for usage-oriented or agent-driven models.

---

*Original Think-Tank Source: [The B2B Category the Markets “Hate” the Most Today: GTM](https://www.saastr.com/the-b2b-category-the-markets-hate-the-most-today-gtm/)*