If you're selling a SaaS or software company, the first decision is the kind of help you want, and only then the firm. Marketplaces, business brokers and M&A advisors all claim to be the way to sell, yet they work in very different ways. We ranked 11 of them from public records and explain which type suits which founder.
The ranking draws on each firm's own site, press releases about specific closes, and the ProCloser deal index for 2026. When a figure came from the firm and we couldn't check it, we say that. When a site blocked us or said nothing, we write Not published rather than guess.
Livmo, L40 Partners and Windsor Drake are verified Deal Network members, meaning ProCloser interviewed them, but that status doesn't move anyone up the list. Rank follows the criteria below. The FAQ covers what founders ask most. Who are the best SaaS brokers? Does a $10M company need a broker or an advisor? Which firms work in San Diego and California?
Not sure which type fits your company?
Tell us your revenue and recurring share, and we will point you to the firms in this guide that take companies your size.
Get matched with a software M&A advisorWhat 449 SaaS deals tell a seller
Start with what the public record can and can't tell you. The ProCloser deal index, which runs from January 2, 2026 to October 29, 2026, holds 449 SaaS transactions. Only 51 of them name a sell-side advisor, so for roughly eight deals in nine you can't see who represented the seller.
Buyers split the way you'd expect. Strategic acquirers took 250 of the 449 companies and private equity firms were the direct buyer in 38, while Volaris Group alone made 7 purchases. On the advisor side, Raymond James and Vista Point Advisors lead with 3 credits each, and Morgan Stanley, Lazard, Kaizen Equity Partners, TD Securities, Jefferies and Houlihan Lokey have 2 apiece.
Widen the net to developer tools, SaaS, vertical AI and data infrastructure and you get 923 deals, 83 of them with a named advisor and 130 with a disclosed price. The median price there is $133.5M. Look only at the 59 deals under $100M and it drops to $20.0M, which is a much more useful yardstick if your company does $10M in revenue.
The most useful result is an absence. Not one marketplace broker (FE International, Quiet Light, Empire Flippers, Acquire.com or Flippa) is credited as sell-side advisor on any deal in the index; they almost certainly closed deals in 2026. Marketplace sales rarely come with a press release that names the broker, so the index undercounts them, and you can't rank brokers against investment banks on public deal counts alone.
For anyone who wants to check our work, a Python script called unique_data.py reads the index, filters on the sector field and tallies buyers, advisors and values. We ran it in isolated mode on October 29, 2026.
Business Broker or M&A Advisor for a Software Company
There are three tiers. A marketplace hands you a listing page and little more, which leaves the owner doing most of the work. A business broker lists the company, finds buyers and manages the sale. That works best when one owner runs the business. An M&A advisor or investment bank prepares the company first, then builds the buyer list, runs a competitive process and negotiates the terms.
In software the difference is who ends up across the table from you. Take a small SaaS company with a few hundred thousand dollars of profit. It tends to sell to an individual or a micro private equity fund, and a marketplace broker reaches those buyers well. Reach several million dollars of revenue and a real team, and strategic buyers show up, along with funds that buy through banks. They respond to an advisor who presents the business as a platform.
So the label matters less than the match. Ask what you'll spend on representation, how much control you want to keep, and how large the company is. Our guide to the difference between a business broker and an M&A advisor goes through fees and mandates, and our list of the best business brokers in the United States covers general brokers outside software.
We mixed the types on purpose. Software Equity Group, Vista Point Advisors, L40 Partners, Livmo, Corum Group and Windsor Drake are advisors or banks, FE International and Quiet Light are brokers with advisory arms, and Acquire.com, Flippa and Empire Flippers are marketplaces. A founder weighing the options will compare them anyway, and the ranking should show what each path costs you.
How We Evaluated These Firms
ProCloser.ai TrustRank Methodology: Software Brokers and Advisors
Every firm was read from its own site, any press release we could cite, and our deal index. The five criteria carry weights that add to 100.
(1) Software Sell-Side Record (30%) Does the firm actually sell software companies? We looked for credited closes and a stated sector focus.
(2) Verifiable Named Closes (25%) Any close we could tie back to a press release, a transaction page or the deal index.
(3) Fit for the Founder (20%) Would a founder with a $5M to $10M software company fit this firm's size band, location and model?
(4) Transparency (15%) Does the firm publish its headquarters, founding year, size band and process?
(5) Buyer Reach (10%) How wide a buyer pool the model reaches, from individuals up to strategics.
Rankings reflect our independent methodology. Verified Deal Network members were interviewed by ProCloser. Where a figure is firm-reported or third-party, we say so.
The reasoning behind each position is short. Software Equity Group is first because it sells only software and has the longest stated software record. FE International takes second on sheer volume, though no independent source confirms a 2026 close. Vista Point Advisors is third because it has the most credited software closes in the index.
Livmo lands fourth: its band best matches a lower middle market software founder, but its public record is smaller. L40 Partners is fifth thanks to a wide band and one credited sell-side close. Corum Group is sixth for age and volume with thinner published detail, and Windsor Drake is seventh because it is selective and says little. Quiet Light is eighth because we couldn't read its site. The three platforms close the list: Acquire.com, then Flippa, then Empire Flippers, whose content and ecommerce focus fits software least.
Comparison: All 11 Firms
This table shows the stated headquarters, deal size band and focus for all 11 firms. Not published means the firm did not state the item on the pages we read.
| Rank | Firm | HQ | Stated Deal Size | Focus | Best For |
|---|---|---|---|---|---|
| 1 | Software Equity Group | Encinitas, CA | Not published | Software only | Software founders who want a sell-side only bank |
| 2 | FE International | Not published on the page we read | Not published | SaaS, apps, ecommerce, agencies | Online and SaaS founders who want a large buyer base |
| 3 | Vista Point Advisors | San Francisco, CA | Not published | Founder led software, AI, internet | Founders who want an investment bank for software |
| 4 | Livmo Verified · Deal Network | San Diego, CA | $1M to $20M revenue | SaaS, software, tech, digital | Software and tech founders near its stated $1M to $20M revenue band |
| 5 | L40 Partners Verified · Deal Network | Miami, FL | Up to $100M ARR | Software and SaaS | SaaS companies with recurring revenue up to $100M |
| 6 | Corum Group | Not published | Not published | Technology and software | Software founders who want a long track record |
| 7 | Windsor Drake Verified · Deal Network | Not named (New York and Toronto offices) | Not published | Software, fintech, healthcare tech | Founders who want a very selective seller-only firm |
| 8 | Quiet Light | Not confirmed | Not published | SaaS, content, ecommerce | Online business founders who want a broker |
| 9 | Acquire.com | Not published on the page we read | Not published | Startups, SaaS, apps | Smaller software founders who sell directly to buyers |
| 10 | Flippa | Austin, TX and Amsterdam | Not published | Websites, apps, SaaS | Small online businesses that want auction style exposure |
| 11 | Empire Flippers | Not published on the page we read | Not published | Content, ecommerce, online businesses | Content and ecommerce site owners |
Detailed Firm Profiles
1 Software Equity Group
Public deals on record: 2
Deal Index: credited on 2 tracked 2026 tech deals · view record (as of Oct 2026)
Software Equity Group ranks first because software is the only thing it sells. The firm's site says it is exclusively sell-side, reports 175+ software deals closed and cites more than 30 years in business. That is the clearest single-sector record among the firms we reviewed, and it is the reason we place it above the marketplace brokers for a company with real recurring revenue.
The 2026 deal index credits the firm on two public transactions: PickTrace, which took a majority growth investment from Terminus Capital Partners on October 13, 2026, and Cherre, which RealPage acquired on July 14, 2026. The firm's own transaction page also lists Brandfolder's sale to Smartsheet. The three closes span different software categories, so no single vertical defines the firm.
One thing to flag: the firm's site puts its headquarters in Encinitas, though our league table had it under San Diego. Encinitas sits in San Diego County, which matters if you are searching for a San Diego tech broker. The firm does not publish a deal size band, so ask for its minimum before you spend time on a call.
| Headquarters | Encinitas, CA |
| Founded | Not published (firm cites 30+ years) |
| Stated deal size | Not published |
| Sector focus | Software and SaaS |
| Model | Sell-side investment bank |
| Sell-side credits in the 2026 deal index | 2 |
| Named closes we could source | PickTrace (majority growth investment from Terminus Capital Partners), Cherre (to RealPage) and Brandfolder (to Smartsheet) |
Strengths
- Software is the only sector it sells
- Firm-reported 175+ software deals and 30+ years
- Two public closes in the 2026 index
Considerations
- No published deal size band
- Headquarters differs between its site and our earlier league table
2 FE International
Public deals on record: none yet in the Deal Index
FE International is the strongest of the marketplace style brokers for software sellers. By its own account FE International started in 2010 and has completed over 1,500 transactions. The site lists practices in SaaS, AI, cybersecurity, EdTech, FinTech, marketplace apps, ecommerce and agencies. That is a broad digital business broker with a real software desk inside it.
We could source three software closes from the firm's own posts: HealthIM, sold to Pender Software Holdings, Clubmate, a vertical SaaS company with embedded payments sold to FishPal, and Heywood Business Analysts, sold to Regnology. The deal index credits it on no 2026 transaction, so every number in this entry comes from the firm itself.
That gap keeps it at second. The volume is large. Not one independent source in our data confirms a single close. Take the 1,500 as the firm's own number, and ask for references from sellers in your revenue range.
| Headquarters | Not published on the page we read |
| Founded | 2010 |
| Stated deal size | Not published |
| Sector focus | SaaS, AI, EdTech, FinTech, apps, ecommerce, agencies |
| Model | Brokerage with M&A advisory |
| Sell-side credits in the 2026 deal index | 0 |
| Named closes we could source | HealthIM (to Pender Software Holdings), Clubmate (to FishPal) and Heywood Business Analysts (to Regnology) |
Strengths
- Founded 2010 with a stated 1,500+ transactions
- Dedicated SaaS, AI and vertical software practice pages
- Three named software closes on its own blog
Considerations
- No 2026 index credits
- Headquarters not stated on the page we read
- Deal size band not published
3 Vista Point Advisors
Public deals on record: 3
Deal Index: credited on 3 tracked 2026 tech deals · view record (as of Oct 2026)
Vista Point Advisors is an investment bank, not a marketplace broker, and its record is the most visible in the 2026 index. It is credited on three software transactions: EasyLlama, sold to Inverness Graham on September 29, 2026, Countfire, sold to TAG Software Group, and Roofle, sold to SalesRabbit. No other firm in this guide has three.
The firm describes itself as a leading investment bank for founder-led software, AI and internet companies, with its headquarters at 555 Mission Street in San Francisco and an office in New York. EasyLlama is HR and compliance training software, which makes the firm a relevant name for the HR technology question that comes up in our M&A advisor guides.
It ranks third because we found no published size band and no founding year, and because an investment bank mandate usually suits a company with enough profit to run a structured process. For a software company below that level, the first two firms or a marketplace may fit better.
| Headquarters | San Francisco, CA |
| Founded | Not published |
| Stated deal size | Not published |
| Sector focus | Founder led software, AI and internet |
| Model | Sell-side investment bank |
| Sell-side credits in the 2026 deal index | 3 |
| Named closes we could source | EasyLlama (to Inverness Graham), Countfire (to TAG Software Group) and Roofle (to SalesRabbit) |
Strengths
- Three credited software closes in 2026
- San Francisco headquarters suits California sellers
- HR and compliance software example in EasyLlama
Considerations
- No size band or founding year published
- Bank mandates fit best above a minimum profit level
4 Livmo Verified · Deal Network
Public deals on record: 1
Deal Index: credited on 1 tracked 2026 tech deal (as of Oct 2026)
Livmo is a San Diego M&A advisor for SaaS and digital businesses, founded by Khaled Azar, who says he has over 25 years of experience in technology, digital advertising and entrepreneurship. The firm told ProCloser its clients run SaaS, software, tech and digital businesses with $1M to $20M revenue. A founder too big for a marketplace listing and too small for a bank chasing a larger fee may land in that band.
Livmo runs a 21-step exit planning program and offers a two-year value roadmap. The transaction process has five stages: strategic analysis, market presentation, competition management, negotiation and resolution, and due diligence management. Founder Khaled Azar represented the seller in a $15M kids' educational app sale that Axial named to its Top 12 Deals of 2024. The 2026 index credits the firm as advisor on InfoSentience, acquired by Paradium.AI on August 21, 2026.
Two case studies on Livmo's site stand out. One is a HubSpot SaaS and customization agency sold for $3.5M. The other is a kids educational app listed as sold for eight figures, a statement we cite to the listing and could not confirm elsewhere. It ranks fourth here because the public record is one index close and the two case studies cited here, below the volume of the first three firms, while its band is the closest match to a founder in the lower middle market.
| Headquarters | San Diego, CA |
| Founded | Not published |
| Stated deal size | $1M to $20M revenue |
| Sector focus | SaaS, software, tech and digital businesses |
| Model | M&A advisory |
| Sell-side credits in the 2026 deal index | 1 |
| Named closes we could source | InfoSentience (to Paradium.AI, August 21, 2026) |
| ProCloser status | Verified Deal Network member |
Strengths
- Firm-stated $1M to $20M revenue band
- 21-step exit planning program with a two-year value roadmap
- Founder Khaled Azar represented the seller in a $15M kids' educational app sale that Axial named to its Top 12 Deals of 2024
Considerations
- One public close in the 2026 index
- Founding year not published
- Case study sale prices are firm statements
5 L40 Partners Verified · Deal Network
Public deals on record: 2
Deal Index: credited on 2 tracked 2026 tech deals (as of Oct 2026)
L40 Partners is a Miami firm that works with software and SaaS companies up to $100M in annual recurring revenue. Its site states 180+ transactions closed and offices in Lisbon and Madrid in addition to Miami. The band is wide, so the practical question is where your company sits in it.
The 2026 index credits the firm on Elipse.ai, sold to Runtime Enterprises on August 12, 2026, and the firm also advised on a buy-side deal for OnePcsNet on October 16, 2026. We count only the sell-side close toward its sell-side total. L40 works both sides of the table. Ask how it keeps buyer work apart from seller work.
It sits fifth because it publishes no founding year and has one credited sell-side close in the index. It is a strong name for a SaaS founder at the upper end of the market, and it is a verified Deal Network member, so we interviewed the team and confirmed its closed deals directly.
| Headquarters | Miami, FL |
| Founded | Not published |
| Stated deal size | Up to $100M ARR |
| Sector focus | Software and SaaS |
| Model | Advisory, sell-side and buy-side |
| Sell-side credits in the 2026 deal index | 1 sell-side; 2 total including buy-side |
| Named closes we could source | Elipse.ai (to Runtime Enterprises, August 12, 2026) |
| ProCloser status | Verified Deal Network member |
Strengths
- Wide ARR range up to $100M
- 180+ transactions stated on its site
- Offices in Miami, Lisbon and Madrid
Considerations
- Founding year not published
- One credited sell-side close in the 2026 index
- Also advises buyers
6 Corum Group
Public deals on record: 1
Deal Index: credited on 1 tracked 2026 tech deal (as of Oct 2026)
Corum Group is a long-running technology M&A firm. Its site cites 40 years in business and more than 500 closed transactions. The 2026 index credits it on Twikey, which Smile Sail acquired in a majority deal on April 1, 2026.
The firm's transaction pages list three recent software closes: Lanus Capital's sale to Sentinel as part of the SmartSoft deal, Symfonia's sale to dvo Software, and SeQent's sale to Open Automation Software.
It ranks sixth because the site does not state a headquarters, a founding year or a size band, which makes it harder to judge fit for a founder with a single product. Ask for its recent closes by deal size.
| Headquarters | Not published |
| Founded | Not published (firm cites 40 years in business) |
| Stated deal size | Not published |
| Sector focus | Technology and software |
| Model | Sell-side M&A advisory |
| Sell-side credits in the 2026 deal index | 1 |
| Named closes we could source | Lanus Capital (to Sentinel, SmartSoft), Symfonia (to dvo Software) and SeQent (to Open Automation Software) |
Strengths
- Firm-reported 40 years and 500+ transactions
- One credited close in the 2026 index
- Three recent software closes on its site
Considerations
- Headquarters and founding year not published
- No stated size band
7 Windsor Drake Verified · Deal Network
Public deals on record: none yet in the Deal Index
Windsor Drake acts for sellers only and says it takes fewer than twenty mandates a year. Its offices are in New York and Toronto, and its site lists software and technology among its sectors, alongside fintech and payments, healthcare and medical technology, and a consumer and business services group.
That volume cap is useful and also a limit. Under twenty mandates a year means each founder gets close attention. It can also mean no room for a smaller software company. There is no founding year, size band or named transaction to go on, so we cannot score its record.
Seventh is where stated selectivity and thin evidence put it. It is a verified Deal Network member, and ProCloser interviewed the team. Ask whether your company fits the mandates it is taking this year.
| Headquarters | Not named (offices in New York and Toronto) |
| Founded | Not published |
| Stated deal size | Not published |
| Sector focus | Software and technology among several sectors |
| Model | Sell-side advisory |
| Sell-side credits in the 2026 deal index | 0 |
| Named closes we could source | Not published |
| ProCloser status | Verified Deal Network member |
Strengths
- Acts for sellers only
- Fewer than twenty mandates a year, by its own statement
- Software and technology is a stated sector
Considerations
- No named transactions published
- No deal size band
- May decline smaller mandates
8 Quiet Light
Public deals on record: none yet in the Deal Index
Quiet Light is a marketplace style broker for online businesses. Its site blocked our automated reads on October 29, 2026, so the details here come from third-party summaries and we label them that way. Those sources say it was founded in 2007 and that it has handled more than $1 billion in exits; we could not confirm either figure against the firm.
Sources conflict on where the firm is based, so we show its headquarters as not confirmed; it sells content sites, SaaS and ecommerce businesses; we found no named software closes and no 2026 index credits.
It ranks eighth because the firm is well known in the online business category, and we cannot back that with a record we could read. A founder who is considering a broker should ask Quiet Light for references from software sellers.
| Headquarters | Not confirmed (sources conflict) |
| Founded | 2007 (third-party sources) |
| Stated deal size | Not published |
| Sector focus | SaaS, content, ecommerce |
| Model | Marketplace style brokerage |
| Sell-side credits in the 2026 deal index | 0 |
| Named closes we could source | Not published |
Strengths
- Established name among online business brokers
- Handles SaaS as well as content and ecommerce
Considerations
- Site blocked our reads, so figures are third-party
- No named software closes found
- Headquarters not confirmed
9 Acquire.com
Public deals on record: none yet in the Deal Index
Acquire.com, formerly MicroAcquire, is a marketplace where founders list their own businesses and buyers contact them. The site says it has helped sell more than 2,000 startups and closed more than $500M in volume. Both figures are the firm's own and we could not check them independently.
Acquire.com is neither a broker nor an advisor. It is a marketplace, and that distinction runs through this whole guide. You write the listing and answer buyers' questions. The terms are yours to negotiate. For a small SaaS company that can work and can save a fee. Above the lower end of the market, going without a dedicated advisor is a risk.
It lands ninth: a platform, not a representation service. We found no named closes and no 2026 index credits. The page we read gives neither a headquarters nor a founding year.
| Headquarters | Not published on the page we read |
| Founded | Not published (formerly MicroAcquire) |
| Stated deal size | Not published |
| Sector focus | Startups, SaaS, apps, ecommerce, content |
| Model | Self-serve marketplace |
| Sell-side credits in the 2026 deal index | 0 |
| Named closes we could source | Not published |
Strengths
- Direct access to buyers without a broker fee structure
- Large stated number of startups sold
Considerations
- Seller does the negotiation and diligence work
- Figures are self-reported
- No named closes found
10 Flippa
Public deals on record: none yet in the Deal Index
Flippa, an online marketplace, says it was founded in 2009. It names Austin as its North American headquarters and Amsterdam as its European one, with an office in Melbourne. A broker section lets sellers work with a representative.
Websites, apps and online businesses all trade there across a wide price range. Most listings are small. Our sources show no named software closes and no 2026 index credits. The pages we read state no fees.
Tenth place: it is the oldest platform on the list and the least specific to software companies. It suits a small product with a simple deal. A $10M software company that needs a tailored buyer list should look elsewhere.
| Headquarters | Austin, TX (North America), Amsterdam (Europe), Melbourne office |
| Founded | 2009 |
| Stated deal size | Not published |
| Sector focus | Websites, apps, SaaS and online businesses |
| Model | Marketplace with a broker option |
| Sell-side credits in the 2026 deal index | 0 |
| Named closes we could source | Not published |
Strengths
- Founded 2009 with offices in three regions
- Offers a broker section
Considerations
- Fees not stated on the pages we read
- No named software closes found
- Not specific to software
11 Empire Flippers
Public deals on record: none yet in the Deal Index
Empire Flippers runs a vetted marketplace for online businesses. Its site states 2,683 entrepreneurs and $607,193,048 in overall sales. Both are self-reported. It leans toward content sites and ecommerce. We found no SaaS practice page.
Listings get screened before they go live, so a buyer has some reason to trust what they see. The model suits businesses priced as multiples of monthly profit. A software company whose value rests on recurring contracts and a product roadmap is a weaker match.
It ranks last. The focus is a poor fit for the question this guide answers, and we found no named closes and no 2026 index credits.
| Headquarters | Not published on the page we read |
| Founded | Not published |
| Stated deal size | Not published |
| Sector focus | Content sites, ecommerce, online businesses |
| Model | Vetted marketplace |
| Sell-side credits in the 2026 deal index | 0 |
| Named closes we could source | Not published |
Strengths
- Screens listings before they go live
- Large stated sales volume
Considerations
- No SaaS practice page found
- Figures are self-reported
- No named closes found
What to Look for in a Software Broker or Advisor
Begin with the size band. A firm that publishes one is telling you which companies it takes. If it doesn't, email and ask for the smallest and largest deal it closed in the past year.
- Ask for three software closes in your revenue range, with the names of the buyers.
- Find out who on the team works your deal, and how many other deals that person carries.
- Get the fee before you sign: any retainer, plus the success fee.
- Does the firm act for buyers too? If so, how does it handle that conflict?
- Request a reference from a founder who sold within the past twelve months.
Then check what can be checked. A deal count on a firm's site is a statement from the firm. A press release naming the advisor beats that. A deal index crediting the advisor beats the press release. Use all three. Where a source is missing, put the question to the firm rather than guessing.
Last, decide how much control you want to keep, and pick the model that matches. A marketplace leaves you in charge and leaves you the work. An advisor takes both, for a fee. Our EBITDA multiples by industry data shows what a sale might be worth before you choose, and the SaaS M&A advisor guide covers firms for larger companies.
Location matters less than people expect, because software buyers are national and most of the work happens on video calls. A local firm still helps with in-person diligence and with owners who like to meet face to face, which is why the California and San Diego firms get their own questions below.
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