---
title: "Kelly Evans: Software is put to the test"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/274844016.md"
description: "The software-as-a-service (SaaS) sector, which flourished over the past fifteen years, now faces uncertainty regarding its future viability. The growth of SaaS was closely linked to private equity and credit, attracted by stable subscription revenues. However, rising interest rates following the Covid pandemic and the emergence of AI software like Claude have disrupted this landscape, raising questions about which companies will endure."
datetime: "2026-02-04T16:31:16.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/274844016.md)
  - [en](https://longbridge.com/en/news/274844016.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/274844016.md)
---

# Kelly Evans: Software is put to the test

It's true that the world was overly flooded with "software-as-a-service" companies over the past fifteen years. The question now, is who survives. The rise of "Saas" was also intertwined with the rise of private equity and private credit. These buyers loved the predictability of subscription service revenue streams. Until the double punch of soaring interest rates post-Covid, plus the arrival of software AI like Claude, has now upended that...

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